11-08-21 - Laserfiche WebLink

Browse Search

REQUEST FOR CITY COUNCIL AGENDA ITEM Appropriation Agenda Date Requested:November 8, 2021 014 Insurance Fund Requested By:Matt Hartleib, HR Manager Source of Funds: Department:Admin Human Resources 014-6144-515-6012 Account Number: $738,000 Amount Budgeted: ReportResolutionOrdinance $765,245 Amount Requested: Exhibits:2022 Stop Loss Presentation Budgeted Item:YesNo SUMMARY& RECOMMENDATION On September 23, 2021, a Request for Proposal (RFP)22501was released for Stop Loss/Reinsurance coverage for the 2022plan year of the City of La Porte Health Fund. Due to the sensitive nature of the supporting information, this RFP utilized a targeted release of likely bidders in the Stop Loss insurance field. The RFP was advertisedin rdth the Bay Area Observer on September 23and September 30. The current plan year has seen continued return to normal levels of high claims after an atypical 2019 experience. From January through August 2020, the total Stop Loss premium paid is $440,413while reimbursements over the same period total $19,342. For comparison in 2020 the period of January-August resulted in premiums of $364,200 and reimbursements of $776,746.In 2019, premiums were $353,900 and reimbursements were $956,939. RFP generated aresponse of one proposal which wasopened on October 26, 2021.The proposalreceived is from the same provider utilized in the 2021 plan year, SA Benefit Vista UW.The bid from SA Benefit maintains the specific deductible claim which carries an additional $185,000 in potential plan liability. This is the same number of lasers included in the 2021 coverage and a reduction from the HUB, the Chapter 172 Employee, Retiree Insurance and Benefits Board voted to recommendselection of SA Benefit Vista UW as the provider ofstop loss coverage for the 2022plan year at the $165,000specific deductible rate. This recommendation carries a projected cost of $765,245which is $27,245 abovethe budgeted amount and represents an increase of 15.38% inStop Loss premiums.