Meeting Type: BCC Regular Meeting
Meeting Date: 12/17/2024
Item Status: New
From: Deidra Hanak, Personnel Director
Submitted by: Deidra Hanak, Personnel Director
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ITEM TITLE
Title
Stop Loss Insurance Renewal - Symetra Life Insurance Company
End
STAFF RECOMMENDATION
Recommendation
Approve and authorize the Chairman to execute the Medical Stop Loss proposal with Symetra Life Insurance Company for specific and aggregate stop loss insurance to be effective January 1, 2025.
End
BACKGROUND INFORMATION
Background: Contract forthcoming from vendor. Cobbs Allen shopped stop loss insurance for the 2025 plan year and presented the attached firm renewal offer from Symetra Life Insurance Company.
Previous Commission action/date: N/A
FINANCIAL IMPACT
Total cost of recommendation: $980,359.00 - budgeted. Approx $120,000.00 savings over previous year
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Action Required: Administration return signed documents to Personnel
Action required (list contact persons/addresses if documents are to be mailed or emailed): N/A
Additional instructions/notes: N/A