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Employers

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.

 

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