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Employers

Employer Bulletin

Local Employers
Vol. 16, Local A
March 25, 1999

Life Insurance Rates for Local Employes Will Decrease in 1999

Recent claims experience in the Wisconsin Public Employers Group Life Insurance plan for local government employes has been very favorable. As a result, the Group Insurance Board approved a reduction in premium rates for basic, supplemental and additional coverage at ages under 30 and at ages 45 through 64. Premium rates will also decrease for the Over Age 70 Additional insurance at all age categories. The overall premium decrease for active employes is 6.4%.

The rates for local government employes, effective July 1, 1999, will be as follows:

Basic, Supplemental and Additional Insurance

Monthly Premium Rate
Per $1000 of Insurance

Age

Current

New
(effective 7/1/99)
Percent
Reduction

Under 30

$.06

$.05

17%

30-34

.06

.06

0

35-39

.07

.07

0

40-44

.10

.10

0

45-49

.l7

.16

6

50-54

.31

.30

3

55-59

.53

.48

9

60-64

.60

.53

12

65-69

.60

.60

0

Over Age 70 Additional Insurance

Monthly Premium Rate
Per $1,000 of Insurance

Age Current New
(effective 7/1/99)
Percent
Reduction

70

$1.60

$1.25

22%

71

1.80

1.50

17

72

2.00

1.75

12

73

2.20

2.00

9

74

2.45

2.25

8

75

2.70

2.50

7

76

2.95

2.75

7

77

3.25

3.05

6

78

3.60

3.40

6

79

4.00

3.75

6

80

4.40

4.15

6

81

4.85

4.60

5

82

5.35

5.10

5

83

5.85

5.60

4

84

6.40

6.15

4

85

6.95

6.75

3

86

7.55

7.40

2

87

8.15

8.10

1

88

8.85

8.80

1

89

9.65

9.60

1

Spouse and Dependent Coverage

This premium remains unchanged at $3.00 per unit of coverage.

Contact

If you have questions on the rate structure of the Group Life Insurance program, please contact Marcia Blumer at (608) 266-2640. If you have questions about reporting life insurance premiums to Minnesota Life Insurance Company, contact Kay Herms at (608) 277-8690.

 

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