FERRIDAY, La. &045; Times are tight and, when it comes to insurance, they’re about to get tighter.

That’s what the Town of Ferriday’s insurance agent, Pat Hazlip, told the Board of Aldermen during its Tuesday night meeting.

Hazlip notified the board that the town’s rate for employee health insurance will go up 30 percent as of the June 1 billing.

That’s because the town had a 117 percent claims-to-premiums ratio last year.

&uot;It’s the second year (Blue Cross) has lost money on this account,&uot; Hazlip said.

Not only that, but Hazlip’s research revealed there is no other company that will take the town’s account and give it the same benefit package as Blue Cross.

The rate increase would leave the town paying $3,400 more per month for employee insurance.

One cost-cutting option is to cut the dental plan, which would save $1,000 a month, Hazlip said.

Aldermen voted to ask Hazlip to submit three different plans for consideration by the board’s Finance Committee. The council will then hold a special meeting to adopt a plan, McGlothin said.

In the time he’s been mayor, McGlothin said the cost of insurance has steadily risen. &uot;Just like gasoline,&uot; he said.

In other business, an ordinance was introduced to seek $150,000 in funds from the State Bond Commission to help pay bills associated with the town’s water plant.

Ironically enough, the Farmers Home Administration would have helped the town pay those bills if Ferriday was delinquent on the FHA note it took out for the plant.

&uot;At the same time, the Bond Commission says we must pay back the note,&uot; Mayor Glen McGlothin said, adding that he hopes the FHA note will be paid back by March.

The board voted to adopt the ordinance pending a June 8 public hearing.