HomeMy WebLinkAboutContract 45599-A1 City of Fort Worth CITY SECRETARY
Policy#: 68412-1 CONTRACT NO. r
Effective:01/01/2015
Individual Excess Risk Insurance
Current Renewal
Option 1
Plan Effective Date 01/01/2014 01/01/2015
Coverages Medical,RX Medical,RX
Individual Deductible $ 1,000,000 $ 1,000,000
Policy Year Maximum Unlimited Unlimited
Contract Period Paid in 9 months and Paid in 12 months and
incurred 111114 or after incurred 1/1/14 or after
Benefit Percentage 100% 100
Enrollment 6862
Composite Coverage $ 5.00 $ 4.57
Estimated Annual Cost $ 411,720.00 $ 376,312.06
%Change from Current N/A e%
Assumptions Offer valid thru December 31, 2014
Situs State TX
Claim Administrator Aetna
Network Aetna ASO
Retirees covered Yes
Are retirees age 65 and over covered? Yes,if on the self-insured plans: Basic,Basic Plus and Consumer Choice.
Actively-at-Work N/A
Endorsements
Plan Mirroring Coordination
The individual stop loss renewal is based upon the current leveraged trend factors,
market conditions, plan designs and current demographic factors.The aggregate
renewal is based upon the experience of the group and current trend. Any plan
changes may affect this renewal and need to be disclosed prior to the renewal
acceptance.
M OFFICIAL RECORD
nCost containment services are managed and administered by independent third-party
M entities not affiliated with Voya Employee Benefits.Voya Employee Benefits, a division MY SECRE'TAR`
of ReliaStar Life Insurance Company,does not warrant, guaranty, or make any FT WORM nr
m representations or warranties whatsoever, express or implied, or assume any liability
regarding the use or the results of the cost containment services,including without
n limitation any financial results,any information transmitted or received, any delay in
Z claims processing or payment, or loss of use of such cost containment services. Qg4��`n�tln�
0
A4ftlidized Signature Date
Attested by: - �� *_ _° °°°° *
1gPF'1CC.� r I LNMENTS INSURANCE ^` FINANCIAL
FORM. ND LEWLlT1h +I M , J. Kayser,City
l5 C- M C a4, S ' C
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 1/6/2015
DATE: Tuesday,January 06, 2015 REFERENCE NO.: **C-27136
LOG NAME: 141NGSTPLOSS15
SUBJECT:
Authorize Execution of Agreement with ReliaStar Life Insurance Company in the Amount of$376,312.00 for
Stop Loss Insurance for the City's Health Benefits Plan with an Effective Date of January 1, 2015 (ALL
COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council authorize the execution of an Agreement with ReliaStar Life
Insurance Company in the amount of$376,312.00 for Stop Loss Insurance for the City's health benefits plan
with an effective date of January 1, 2015.
DISCUSSION:
The purpose of this Mayor and Council Communication is to seek authorization from the City Council to
enter into an Agreement with ReliaStar Life Insurance Company(ReliaStar),a member of the VOYA family
of companies,for Stop Loss Insurance for the City's health benefits program for 2015.
ReliaStar has provided the City of Fort Worth's (City)Stop Loss Insurance coverage since April 2014. On
April 8,2014, (M&C C--26750) the City Council authorized the City to enter into an Agreement with
ReliaStar to provide Stop Loss Insurance coverage through December 31, 2014.
The specific Stop Loss coverage caps the City's liability for annual claims on a per member basis.The City
pays for all claims for each participant up to a specified dollar amount with the Stop Loss Insurance coverage
paying for any claims beyond the per—participant threshold.
The current Stop Loss coverage is for the amount of$1,000,000.00 at a cost of$5.00 per month for each
active employee and non—Medicare retiree who is a member of the City's self—funded health plan. The
Agreement for 2015 is for the same amount of coverage at a cost of$4.57 per member per month,for a total
cost of$376,312.00 for the period of January 1 to December 31,2015.
The amount that will be paid from Fiscal Year 2015 funds is in the amount of$282,234.00 for January
through September 2015.Funds for the remaining three months of the contract will be requested in the Fiscal
Year 2016 budget process.
M/WBE OFFICE—A waiver of the goal for MBE/SBE subcontracting requirements was requested by the
Human Resources Department and approved by the M/WBE Office,in accordance with the BDE Ordinance,
because the purchase of goods or services from source(s)where subcontracting or supplier opportunities are
negligible.
FISCAL.INFORMATION:
The Financial Management Services Director certifies that funds are available in the current operating
budget,as appropriated, of the Group Health Insurance Fund.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
FE85 534840 0148520 $225.787.00
FE85 534840 0148540 $56.447.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Brian Dickerson (7783)
Additional Information Contact: Margaret Wise (8058)
ATTACHMENTS
1.Fund Verification.docx
2. Stop Loss Waiver Request.ndf