- October 11, 2024
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The cost of city employee health insurance is projected to go up by 20% for the 2023-2024 fiscal year.
The city has insurance from Brown & Brown Insurance.
The projected increase is largely due to increased medical costs and a spike in claims, said Danielle Boyle, senior vice president of Brown & Brown.
The cost of medication and medical visits have increased 15-25% and 8-11%, respectively, according to data from Brown & Brown. Boyle said most of the projected increase stems from an increase in the number of claims for diagnoses like cancer.
During COVID-19, she said, there was a reduction in screenings, and people are now returning to regular screenings and noticing problems.
Boyle said Palm Coast’s insurance plan has a stop-loss policy of $175,000 per person per year. If an individual exceeds that, the insurance carrier is responsible for the claims. The city also has an aggregate stop-loss of 125% for its whole policy.
