COUNCIL AGENDA ITEM
SUBJECT:
title
Fully Insured lines of coverage Insurance Premiums for Calendar Year January 1, 2025 - December 31, 2025
body
DEPARTMENT:
Human Resources
SUMMARY:
Our Agent of Record solicited all lines of health insurance coverages.
Health Insurance/HMO Florida Health Care $1,261,042
Health Insurance/POS Florida Health Care $30,478
Health Insurance/HSA Florida Health Care $1,490,968
Dental Insurance Principal $109,870
Life Insurance Mutual of Omaha $22,268
Long Term Disability Mutual of Omaha $37,713
The renewal for Health Insurance was negotiated at a 6% rate increase.
Dental coverage was negotiated at a 3% rate increase.
The Group Life and AD&D coverage was a rate guarantee at our current rate.
Long Term Disability coverage was a rate guarantee 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, 2025 - December 31, 2025 Fully Insured Health Insurance Premiums in the estimated amount of $2,952,339 and authorize City Manager to bind coverage with Florida Health Care, Principal and Mutual of Omaha.