Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Renewal with Fidelity Insurance through Arbor Benefits for Specific and Aggregate Stop Loss Insurance Protection on the Medical Plan
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: January 3, 2017
DEPARTMENT: Human Resources
CONTACT: Ike Obi, Director of Human Resources
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Resolution.
ITEM SUMMARY:
• This Resolution authorizes a renewal with Fidelity Insurance through Arbor Benefits for Specific and Aggregate Stop Loss Insurance effective January 1, 2017.
BACKGROUND INFORMATION:
• The City Council authorized a Contract and subsequent renewals for Stop Loss Insurance on December 15, 2015.
• Due to the increased fee, the City requests Council to authorize the renewal for 2017 at the rate of $88.32 per enrollee per month.
• Subsequent renewals fees will not exceed 10% of previous year. In the event any renewal exceeds 10%, the renewal will be presented to Council for review/ approval.
FINANCIAL SUMMARY:
• Funding is available in account:
• 015-2110-413-8575 for Insurance Fixed Costs/Administrative Fees.
BOARD OR COMMISSION RECOMMENDATION:
• N/A