Insurance Premiums Rising for MU Employees

6 years 3 months 2 weeks ago October 02, 2010 Oct 2, 2010 Saturday, October 02 2010 Saturday, October 02, 2010 8:48:38 AM CDT in News

COLUMBIA - The amount of money University of Missouri employees take home is going to decrease.

Starting in January the university's medical insurance premiums go up by 13 percent.

The average employee would be charged an extra $30 a month. That equals $360 per employee each year.

Multiply that by the number of employees at MU, which is just under $13,000, and that's just more than $4.5 million that could be taken out of employees paychecks.

"You can never shy away from a number like that. I think we absolutely depend on every dollar there is. So yeah, it's concerning and it's alarming," said Elly Bethune, owner of Elly's Couture.

To put this more into perspective this amount of money is the equivalent of about 150 people that make $30,000 a year losing their jobs.

"When you're talking about $4 million and you talk about someone at that pay level, it does hit home," said Don Laird, President of Columbia Chamber of Commerce.

MU officials say the increase is due to the rise in medical costs, but also employees are now needing more expensive health care.

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