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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: March 28. 2005 <br />Requested By: Sherri Sampson c ~ <br /> <br />ADDroDriation <br /> <br />Source of Funds: Employee Health Fund <br /> <br />Department: Human RellQurcell <br /> <br />Account Number: 014-6144-515-6012 <br /> <br />Report: X Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: $255.., 10fJ.OO <br /> <br />Exhibit <br /> <br />"A" <br /> <br />March 4, Memorandum from The Welch Co ~eted He <br /> <br /> <br />NO <br /> <br />Exhibits: <br /> <br />Ordinance <br /> <br />Exhibit <br /> <br />"R" March 16, Memorandum from the Welch Company <br /> <br />Exhibit <br /> <br />"C" Current Contract - 2004-2005 <br /> <br />"D" StoD Loss ComDarison Worksheet <br /> <br />Exhibit <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Each year Council is asked to approve the City's Stop Loss medical insurance contract, which is due to renew on <br />April 1 , 2005. This insurance covers payment of all claims for an individual employee or dependent whose <br />medical and prescription charges exceed $115,000.00 (deductible). The proposed contract includes an aggregate <br />amount so that if all claims for all employees and dependents exceed at least $3.7 millionJhe insurance provider <br />will cover 100% of all claims over that amount. <br /> <br />On January 20, 2005, Requests for Proposals (RFP's) were mailed to twelve (12) providers of Stop Loss <br />coverage. Three (3) RFP's were received. <br /> <br />Standard Security Life msurance Company, the City's current provider, provided the most competitive bid, for <br />similar terms and conditions as the current contract (Exhibit C). <br /> <br />Staff Recommendation <br /> <br />Staff recommends that Council authorize the City Mana!!er to execute the final policv contract for <br />April!. 2005, throu!!h March 31.2006. <br /> <br />Action Required bv Council: <br /> <br />Authorize the City Manager to execute the final policy contract for April I, 2005, through <br />March 31, 2006. <br /> <br />Approved for City Council Agenda <br /> <br /> <br />3/~d/()5 <br /> <br />Date <br />