Employer Bulletin
Local Life Insurance Employers
Vol. 20, Local D
April 1, 2003
2003 Employee Life Insurance Rates for Local Employees
The claims experience for local government employees insured under
the Wisconsin Public Employers Group Life Insurance Program has
continued to be favorable, with funding for future benefits remaining
at a strong level. Therefore the Group Insurance Board (GIB) has
approved maintaining the employee and employer premium contribution
rates for employees under the age of 70 at the same level as the
2002 rates.
The spouse and dependent plan premium will also remain the same
at $2.00 per unit per month. The coverage for each unit of spouse
and dependent coverage will remain at $10,000 for a spouse and $5,000
for each dependent. Employees may elect up to two units of coverage.
The Age 70 and Over Additional insurance has continued to experience
stable experience enabling the rates to decrease at all age levels.
Effective July 1, 2003, the rates for local government employees
will be as follows:
| Age
70 and Over Additional Insurance |
| Monthly
Premium Rate
Per $1,000 of Insurance |
| Age |
Current |
New |
Percent
Reduction |
| 70 |
$1.25 |
$1.05 |
16% |
| 71 |
1.50 |
1.20 |
20 |
| 72 |
1.75 |
1.35 |
23 |
| 73 |
2.00 |
1.55 |
23 |
| 74 |
2.25 |
1.75 |
22 |
| 75 |
2.50 |
1.95 |
22 |
| 76 |
2.75 |
2.15 |
22 |
| 77 |
3.05 |
2.35 |
23 |
| 78 |
3.40 |
2.65 |
22 |
| 79 |
3.75 |
2.95 |
21 |
| 80 |
4.15 |
3.25 |
22 |
| 81 |
4.60 |
3.55 |
23 |
| 82 |
5.10 |
3.85 |
25 |
| 83 |
5.60 |
4.30 |
23 |
| 84 |
6.15 |
4.75 |
23 |
| 85 |
6.75 |
5.20 |
23 |
| 86 |
7.40 |
5.65 |
24 |
| 87 |
8.10 |
6.10 |
25 |
| 88 |
8.80 |
6.75 |
23 |
| 89 |
9.60 |
7.40 |
23 |
For more information on the rate structure of the Group Life Insurance
program, contact Marcia Blumer at (608) 266-2640 or e-mail marcia.blumer@etf.state.wi.us. If you
have questions about reporting life insurance premiums to the Department
of Employee Trust Funds, contact Steven Berg at (608) 264-6637.
Employers with billing questions should call the plan administrator,
Minnesota Life Insurance Company at (608) 277-8690 or toll free
at 1-866-295-8690.
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