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File #: ID 21-1735    Version: 1 Name:
Type: City Council Item Status: Agenda Ready
File created: 8/16/2021 In control: City Council
On agenda: 10/4/2021 Final action: 10/4/2021
Title: Approval of Employee Insurance Plans
Attachments: 1. Employee Benefit Recommendation 11-01-21, 2. Gehring Group Renewal Recommendation

Agenda Item:  7(a)

Prepared By:  Leslie W. Sanford

Business:  Consent Agenda

Department:   Human Resources

Subject:

Title

Approval of Employee Insurance Plans

Body                     

 

BACKGROUND

 

Attached for City Council’s approval are the annual renewal contracts for employee health, dental, vision, life and disability insurance.

 

Each year the employee benefit committee meets with our Agent of Record, The Gehring Group, Inc., to review our insurance coverage and negotiate agreements for the new fiscal year. Annually our consultants negotiate on behalf of the City and obtain quotes, evaluate the costs versus the coverage, and give the City their recommendations. Staff recommends approval of the consultant’s recommendation of proposed coverage, as we believe it is in the best interest of the City.

 

EMPLOYEE INSURANCE RENEWAL

 

Our Agent of Record, The Gehring Group, Inc., presented the renewal to City Staff on August 26, 2021. The premium rate for health insurance has increased for the upcoming year. The dental insurance carrier and premiums remain the same.  The vision insurance carrier and premiums remain the same. The rate for life insurance, short-term and long-term disability remain the same for FY22. The budget is allocated to each department and is sufficient to fund the premium as presented.

 

FUNDING SOURCE / FISCAL IMPACT:

 

A premium increase of 7%, or approximately $220,000.00 city-wide, was budgeted in the approved FY22 budget. The rate for dental, vision, life insurance and short-term and long-term disability remain the same for FY22.

 

RECOMMENDATION

 

Authorize the City Manager to execute the Contracts for employee health, dental, vision, life, and disability insurance.

 

POTENTIAL MOTION:   “I move approval of employee insurance plans.”