NEW ALBANY —
The New Albany Board of Public Works and Safety approved Tuesday an incentive package with hopes of inducing a lion’s share of city workers to a new insurance plan.
Employees paying for single coverage would receive $500 and workers paying for a spouse, children or family plan would have $1,000 deposited into their Health Savings Account, or HSA, Jan. 1.
The measure passed by the board provides the payment only for 2011, with administration officials touting New Albany could still save about $450,000 next year even with the incentives if 75 percent of workers sign-up for a HSA.
“It’s going to be told [to employees] that this is a one-time deal,” City Attorney Shane Gibson said.
He estimated the HSA stipends would cost the city about $260,000, adding the future financial solvency for New Albany’s public municipal sector relies heavily on the new insurance offering.
Administration officials have lauded the HSA option as a means to bringing New Albany’s general fund back into the positive by 2012, as the City Council continues to weigh solutions to the anticipated $1.8 million shortfall in the public safety departments this year.
Employees can switch to the HSA option now, but the goal is to do more education on the coverage and get a vast majority of workers to sign-up for a Jan. 1 start date.
Edward Culpepper Cooper, the city’s insurance agent of Maverick Insurance, added that more traditional plans will still be available for workers.
HSA requires participants to pay into their account up to their annual deductible amount, then their medical expenses are covered for the rest of the year.
“It’s proven that people take more control of their health care costs” on an HSA plan, Cooper said.
Business/Money
New Albany hopes to spur HSA insurance participation with one-time stipend
Singles would receive $500, families $1,000
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River View gets a new option
As for progress, Bobo said he met with two banks Tuesday prior to the meeting. He added there’s been interest in financing the project from national lenders including U.S. Bank.
Additionally, Bobo said his team has meet with national investors as another source to fund the project and believes Mainland Properties could soon gain financial partners for River View. -
Bridges project specifics emerging
Valentine outlined that incentives will be part of Kentucky’s contract with the winning bidder.
He explained that once construction begins, the expected cost of construction per day will total about $80,000 and the contractor can earn incentives for finishing early and penalties for finishing late. A completion date is set for June 30, 2018. -
Spring Street Hill Road repair to begin around June 1
Councilman Bob Caesar, who sponsored the council measure and is a Silver Hills resident, said the reopening of Spring Street Hill road will be a “big deal” for the community.
“We just wanted to make sure this was done once and done right,” he said. -
TARC OKs rate increases
Contrary to its monetary situation, the amount of people riding the public transit system has increased about 10 percent, Barker said.
But the transportation service had not raised its fares, aside from express routes, in four years. -
Workshops on windows set for Thursday
Instructor Jack P. Patchin of Ol’ House Experts in Madison has more than 30 years of experience in construction and restoration. Patchin has restored wood windows for homes, barns, and outbuildings.
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A bit less jump at the pump
Recent developments in the economic crisis in Greece and an apparent slowdown in China’s economy could be important to summer’s gasoline prices.
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Jeffersonville budget cuts move forward
The action is not final, as officially the council has only approved a resolution instructing the city’s financial officer to advertise the cuts.
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Corden Porter purchase tabled again
The council expressed other concerns, including the potential for asbestos in the building, the costs to cover utility payments and the costs to renovate the building.
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Road work ahead: Projects under way in New Albany
The city earmarked about $600,000 of federal Community Development Block Grant funds to improve and install sidewalks. The project list, which has to focus on inner city areas because of CDBG regulations, is nearly finished, Rosenbarger said.
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State takeover of failing schools meets resistance
Under the law, the state can step in and turn the failing school over to a private operator.
Seven schools in Indiana located in high-poverty school districts in Gary and Indianapolis are set to be taken over this coming school year. - More Business/Money Headlines
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River View gets a new option



