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Six years after it helped blaze a trail for municipalities by joining the state health insurance system, Saugus plans to become the first community to leave the program in a move officials say will save the town and its employees over $1 million.
Saugus recently notified the Group Insurance Commission it is withdrawing effective July 1, 2014, when the town plans to switch to municipal Blue Cross Blue Shield of Massachusetts plans offered through the Massachusetts Interlocal Insurance Association.
Saugus, which has 905 active and retired subscribers, estimates its insurance costs for fiscal 2015 at $10.48 million, $1.03 million less than it would pay if it remained in the GIC. For the second year, Massachusetts Interlocal has agreed to cap the increase to Saugus to the average increase charged to its other health insurance participants.