Thursday, June 07, 2012

COSA Health Insurance Under Budget

How is the City of San Angelo doing on its health insurance budget for 2011-2012?  After eight months the city is at $3.95 million in health insurance expenditures, well under its $7.5 million budgeted expense.  If expenses continue at the current rate, San Angelo will have spent $1.15 million less than budget by the end of FY12.

Roughly $500,000 is expected savings from the city's exclusive agreement with Aetna and San Angelo Community Medical Center.  Another $350,000 could come from Uncle Sam's ERRP largess.  One key for employers receiving ERRP money is maintaining their level of contribution.  It remains to be seen how COSA will meet this obligation.

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