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Public Workers Requires Paying More for Health Insurance

Public Workers Requires Paying More for Health Insurance

Public workers are required to pay more money for maintaining their health insurance coverage, for which Mayor Bloomberg is thought to turn down his plan. Proposals are being made to trim down the budget as far as possible to save money and spend for other important purposes. This article enumerates the story.

City officials have recently announced that Mayor Michael R. Bloomberg is on his way to drop his own plan to urge the public workers to upfront more payments for maintaining their health insurance policies, at the time he revealed his newest budget plan on May 1, 2009.

On the basis of some serious discussions and depressing financial predictions, the mayor expected to persuade the worker union leaders, saying that the public workers need to pay 10% premiums for their health insurance. It would be an effort to making a savings of $1 billion for the purpose of pensions and other health care expenses. A majority of the workers doesn't pay any of the costs at present; therefore a 10% payment will help the city in making a savings of $350 million.

The discussions between the worker unions and the city seem to be problematic. The city was asked to pay a sum of $4 billion in order to bridge the economic gap, but the administrative officials remarked that the time and the effort for such actions are lacking. Now for the financial year 2011, the administrative officials are planning to save the sum of $350 million for the budget plan.

Mayor Bloomberg is yet hoping to make a savings of 400 million dollars in the budget for worker expenses for the financial year 2010 that commences from July. However, the expected savings are dependant on Albany's knack to approve the bill, which would produce a modern reimbursement system offering the upcoming public workers with a moderate pension in comparison to the existing ones, or those who have retired.

It was expected that Bloomberg would suggest the State Legislative department to approve a sudden growth in sales levies of the city. The officials of the administrations refused to remark that whether other levies would be included along with this increment or not. However, the city personnel remarked that through a complicated procedure, the city desires to increase $1 billion.

Mayor Bloomberg is actually found to be serious over one issue which he defied since a long time onwards, i.e. income taxes applicable to the richest people residing in the city. He even thinks of reducing 2,270 workers from the public workers strength of 280,000, over those 10,000 reductions, which he proposed previously. This may aid in making a savings of $324 million. But the administrative officials remarked that no uniformed service employees or even the professors and educators will be turned unemployed in such a process.

Another savings of $40 million is being expected to be made in the capital plan because of the funding offered by the federal-based incentive package. Because of this, the proposal of spending $11.3 billion for the purpose of school building for the following 5 years will remain unaffected.

Edward Skyler, the Deputy Mayor has declared that the Agency budget is on the process of being decreased further, so that sectors like education, public security and healthcare management can be funded. The assistance of the municipal worker associations is required to stabilize the budget plan further.

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