Employee Benefits

Section III - Employee Benefits: 9101 Employee Benefits

The Employee Benefits budget is made up of Town and Elementary School Health Insurance, Medicare Tax, Life Insurance, Unemployment, and Town Compensated Absences and Contractual Obligations. The Town is a member of the Cape Cod Municipal Health Care Group.

• The budget represents a $198,207 (4.67%) increase over the FY22 budget.
• The major driver of this budget is the Town and Elementary Schools Health Insurance. In FY22, there was a 2.8% increase and a one month premium holiday.
• The Town only took half of the savings from the premium holiday, knowing that if the whole savings was taken, it would create a structural deficit in FY23.
• The actual premium increase for FY23 is 3%. Golf and Water carry their portions of the health insurance in their respective budgets.
• Compensated absences is decreased as we expect less retirements in FY23.
• Funding for contractual obliglations are to implement the compensation and classification study recommendations for Police Personnel Bylaw and Ladies Library employees.