COUNCIL AGENDA ITEM
SUBJECT:
title
Fully Insured lines of coverage Insurance Premiums for Calendar Year January 1, 2027 - December 31, 2027
body
DEPARTMENT:
Human Resources
SUMMARY:
Our Agent of Record solicited all lines of health insurance coverages.
Health Insurance/HMO Florida Health Care $1,308,166.80
Health Insurance/POS Florida Health Care $15,238.56
Health Insurance/HSA Florida Health Care $1,944,785.64
Dental Insurance MetLife $127,168.00
Life Insurance Mutual of Omaha $25,798.00
Long Term Disability Mutual of Omaha $46,593.00
The renewal for Health Insurance was negotiated at a 4.5% rate increase.
The City changed dental insurance carriers, resulting in a 3.8% reduction in premiums.
Long Term Disability coverage was negotiated at a 6.1% rate increase.
The Group Life and AD&D coverage was negotiated flat at our current rate.
BUDGETED ITEM: ☒ Yes ☐ No ☐ Not Applicable
BUDGET AMENDMENT REQUIRED: ☐ Yes ☒ No ☐ Not Applicable
RECOMMENDED ACTION:
Motion to approve the Calendar Year January 1, 2027 - December 31, 2027 Fully Insured Health Insurance Premiums in the amount of $3,467,750 and authorize City Manager to bind coverage with Florida Health Care, MetLife and Mutual of Omaha.