Employer Bulletin
Local Employers
Vol. 17, Local C
February 23, 2000
Life Insurance Rates Decrease for Spouse and Dependent
Coverage Effective July 1, 2000
For the third consecutive year, the claims experience in the spouse
and dependent plan was extremely favorable. Based on continuing
low claims rate, the premium will be reduced from $3.00 per unit
of coverage to $2.00 per unit of coverage effective with the July
1, 2000 coverage month. A maximum of two units of spouse and dependent
coverage may be elected by employes.
Basic, Supplemental and Additional Insurance
Recent claims experience in the Wisconsin Public Employers Group
Life Insurance plan for local government employes has been relatively
stable. As a result, the Group Insurance Board approved a recommendation
to continue the 1999 employer and employe premium contribution rates
into the year 2000. The rates for local government employes are
as follows:
| Basic,
Supplemental, and Additional
Monthly
Premium Rate
Per $1,000 of Insurance |
| Age |
Effective
7/1/2000 |
| Under
30 |
$.05 |
| 30-34 |
.06 |
| 35-39 |
.07 |
| 40-44 |
.10 |
| 45-49 |
.16 |
| 50-54 |
.30 |
| 55-59 |
.48 |
| 60-64 |
.53 |
| 65-69 |
.60 |
| Over
Age 70 Additional
Monthly Premium Rate
Per $1,000 of Insurance |
| Age |
Effective
7/1/2000 |
| 70 |
$1.25 |
| 71 |
1.50 |
| 72 |
1.75 |
| 73 |
2.00 |
| 74 |
2.25 |
| 75 |
2.50 |
| 76 |
2.75 |
| 77 |
3.05 |
| 78 |
3.40 |
| 79 |
3.75 |
| 80 |
4.15 |
| 81 |
4.60 |
| 82 |
5.10 |
| 83 |
5.60 |
| 84 |
6.15 |
| 85 |
6.75 |
| 86 |
7.40 |
| 87 |
8.10 |
| 88 |
8.80 |
| 89 |
9.60 |
Contact
For more information on the rate structure of the Group Life Insurance
program, please contact Marcia Blumer, Life Insurance Program Manager,
at (608) 266-2640. If you have questions about reporting life insurance
premiums to Minnesota Life Insurance Company (MLIC), contact Kay
Herms at MLIC, (608) 277-8690.
|
