TO: Mayor and Commission AGENDA DATE: 9/20/2021
FROM: John A. Peters, III, PE, Acting City Manager AGENDA ITEM: 8 - B
SUBJECT:
Title
Approval of Acentria Public Risk Coverage Premiums - John Peters, Acting City Manager, (386) 878-8850.
Strategic Goal: Fiscal Issues
Body
LOCATION:
City wide.
BACKGROUND:
Background
Acentria Public Risk has provided coverage premiums for the below City policies showing the rate percentage change for the coming year. All of these rate changes are within the budgeted amounts in the 2021-22 Budget.
Vendor: Cigna (City Paid Benefit)
Type Employee Benefits- Health-Dental
Expires 12/31/2021
Increase 3% Health, 2.5% Dental, and EAP remains the same
Vendor: Hartford (City Paid Benefit)
Type Firefighter Cancer Benefit
Expires 9/30/2021
Increase Remains at current rate
Vendor: Hartford (City Paid Benefit)
Type AD&D
Expires 9/30/2021
Increase 6.53%
Vendor: Madison National Life (City Paid Benefit)
Type: STD
Expires 12/31/2023
Decrease -2%
Vendor: Madison National Life (City Paid Benefit)
Type: LTD
Expires 12/31/2023
Decrease -3%
Vendor: Minnesota Life Insurance Company (City Paid Benefit)
Type Group Life Insurance
Expires 12/31/2023
Decrease -8%
Vendor: Minnesota Life Insurance Company (Employee Paid Benefit)
Type Life Insurance
Expires 12/31/2023
Decrease -12%
Vendor: Minnesota Life Insurance Company (Employee Paid Benefit)
Type LTD
Expires 12/31/2023
Decrease -8.37%
Vendor: United Health Care (Employee Paid Benefit)
Type Vision
Expires 12/31/2022
Decrease -8%
The Acting City Manager has the authority to make corrections of scrivener’s errors and the like.
OPTIONS:
1. Approve Renewal of Cigna
2. Deny Renewal of Cigna
End
COST:
$5,388,440.52
SOURCE OF FUNDS:
2022 Budget
ORIGINATING DEPARTMENT:
Office of the City Manager
STAFF RECOMMENDATION PRESENTED BY:
John Peters, Acting City Manager, - Staff recommends the Commission approve the insurance rates/renewals negotiated by the City’s Insurance brokerage firm Acentria Insurance.
POTENTIAL MOTION:
Recommendation
“I move to approve the insurance rates/renewals negotiated by the City’s brokerage firm Acentria Insurance. The Acting City Manager has the authority to make corrections of scrivener’s errors and the like.”
END