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CABARRUS COUNTY <br /> Post Office Box 707 <br /> N CORD. NORTH CAROLINA 28025 <br /> <br />M E M O <br /> <br /> TO: Board of Commissioners <br /> FROM: County Manager <br /> DATE: September 1, 1982 <br /> <br /> In 1981 the General Assembly for the State of North Carolina amended <br />the General Statutes providing authority to the County Commissioners to <br />allow health insurance coverage for retired County employees.. There are <br />three m~thods allowed for in the law as set forth in the attached, copy of <br />the law. <br /> <br /> There are presently twenty-fonr former employees under the retirement <br />system for Cabarrus County. If the Board considers the option of paying <br />the premium costs for retired employees, the annual cost for the twenty- <br />four presently retired employees would be $8,861.76. I estimate approxi- <br />mately ten additional retirees during this fiscal year with additional <br />annual cost of $3,692.40. <br /> <br /> The only other cost that would be incurred in any of the options <br />would be the cost administration of the monthly premiums collections and <br />payments to the insurer and whatever experience modification that would <br />result from the addition of the retirees to the County Hospitalization <br /> <br />Attachment <br /> <br /> <br />