Metropolitan Knoxville Airport Authority is dealing with increasing healthcare benefits costs just like everyone else.
The MKAA Board of Commissioners approved a proposal from the Administration and Finance Committee, which met Wednesday prior to the full board meeting. The motion authorized the benefits policy renewals for employees to be negotiated at up to a 24% increase.
The airport’s current provider’s bid for 2025-26 enrollments came back with a 24% cost increase that was attributed to several high dollar claims in the last year. The board’s health coverage brokers received a second bid just prior to the committee meeting at a 10% increase that included a $100,000 transition supplement that would reduce the increase to 7%. Each percentage point of increase for the airport health plans is valued at roughly $37,000. this year. The board passed the motion at 24% as staff had not yet had time to compare the details of the new bid against existing benefits in detail and requested the amount in case it was determined staying with their current carrier was a better option after analysis…