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CABARRUS COUNTY <br /> Post Office Box 707 <br /> <br /> CONCORD, NORTH CAROLINA 28025 <br /> <br />M E M 0 <br /> <br />TO: Board of Commissioners <br />FROM: County Hanager <br />DATE: September 1, 1982 <br /> <br /> In 1981 the General Assembly for the State of North Carolina amended <br />the General Statutes pcoviding authority to the County Commissioners to <br />allow health %nsurance coverage for retired County employees. There are <br />three methods allowed for in the law as sec forth in the attached copy of <br />the law. <br /> <br /> There are presently twenty-four former employees tinder 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 />anmml cost oi $3,692.40. <br /> <br /> The only other cost that would be incurred in any of the optzons <br />would be the cost administration of the monthly premiums collections and <br />payments to tile insurer and whatever experience modification that would <br />result from the addition of the retirees to the County Hospitalization <br />Insurance. <br /> <br />Attachment <br /> <br /> <br />