COUNCIL AGENDA ITEM
SUBJECT:
title
Fully Insured lines of coverage Insurance Premiums for Calendar Year January 1, 2021 - December 31, 2021
body
DEPARTMENT:
Human Resources
SUMMARY:
Our Agent of Record solicited all lines of health insurance coverages.
Health Insurance/HMO Florida Health Care $1,694,583
Health Insurance/POS Florida Health Care $25,840
Health Insurance/HSA Florida Health Care $681,013
Dental Insurance Principal $88,199
Life Insurance Mutual of Omaha $17,763
Long Term Disability Mutual of Omaha $24,637
The renewal for Health Insurance was negotiated at a -2% rate decrease.
Dental coverage was negotiated flat at our current rate.
The Group Life and AD&D coverage increased by 11.5% due to City Manager request to double the benefit from 1x annual salary to 2x annual salary for Directors and Deputy Directors.
Long Term Disability 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, 2021 - December 31, 2021 Fully Insured Health Insurance Premiums in the amount of $2,532,035 and authorize City Manager to bind coverage with Florida Health Care, Principal and Mutual of Omaha.