The Knox City Council joined AIM Medical Trust by resolution during their meeting last week.
Knox Mayor Dennis Estok said the city’s employees will now have their health insurance plan through a new company, AIM Medical Trust. It was announced the employee deductible will now be $1,000 per individual and $2,000 for a family.
A three-year commitment with AIM Medical Trust was required to join. The first year will be based on the city’s claims which will determine the city’s renewal. The second year will be based on a combination of the city and the trust, then the third year will be 60% Knox and 40% trust.
After the third year, the city is guaranteed to not go up more than 8% a year or down more than 4% as long as the city stays with the trust.
Mayor Estok added the city is tired of having to deal with health insurance renewals every year and believes this is the best option to have more stability in the city’s budget.
The council adopted the resolution unanimously becoming the 56th municipality in Indiana to join AIM Medical Trust.
