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One option for saving money on health insurance for the Town of Natick and our employees is to leave the West Suburban Health Group and join the State's Group Insurance Commission (GIC). The GIC, in existence since 1955, provides and administers health insurance to nearly all of the Commonwealth's employees, legislators and their families. Since 2007, municipalities have been able to join the GIC as well.
Preliminary analysis suggests that this option would produce considerable savings. Specifically, the overall savings, as compared to current health insurance premiums, would be over $3 million, with the Town’s savings being approximately $1.8 million and employees’ savings being approximately $1.3 million. As with the Rate Saver, however, the lower premium costs are attainable due to higher co-payments for doctor's visits and prescription drugs. Importantly, with this savings, the Town could consider some cost-effective enhancements to the employees’ benefits options.
With over 185,000 enrollees (plus their family members), the GIC purchases more health care than any other entity in all of New England. To learn more about the GIC, the Administration arranged for a GIC representative to make a presentation to Town employees on September 16, 2009. A weblink to her presentation and that of the Town Administrator is available for viewing below. Please be sure to click on the "Natick CIG" link. There may be a brief delay as the video loads onto your web page. Also available below is a link to the online home of the GIC and a series of comparisons between the GIC, Rate Saver Plans and current health care options.
Should the community wish to join the GIC, it must agree to do so by December 1, 2009 for the FY 2011 budget year.
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