Clark County Board of Supervisors Looks at Proposed 2015 Budget, Part 5
Friday, October 10th, 2014 -- 9:31 AM
-The Clark County Board of Supervisors heard the proposed 2015 budget for the county on Thursday of last week.The Clark County Finance Committee had to look at many different factors in preparing the budget for 2015 including health insurance for county employees.
The early projected increase on the county?s health insurance was 10%, but, with some plan design changes, the revised projection came in at 6% with a portion of the difference coming out of the Health Insurance Fund Balance. The county?s portion of that increase came to $138,979 with the employees? increase coming out to $28,809.
The county continues to change health insurance plans in order to avoid the Excise Tax coming in the year 2018 which has the potential of calculating out to hundreds of thousands of dollars. The Excise Tax is a 40% tax that will be imposed on the value of health insurance benefits exceeding a certain threshold.
This also goes along with the ?Pay or Play? penalty the county is trying to avoid. Under this, the county would have to pay a $3,000 penalty for every employee that has their portion of their health insurance exceed 9.5% of their income. The county does have a few employees in that position.
The budget public hearing, amendments and adoption will take place on November 11th.
Feel free to contact us with questions and/or comments.