Submitted By: Devan Kikendall
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Presentation By: Devan Kikendall
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Department: Human Resources and Risk Management
STAFF RECOMMENDATION (Motion Ready):
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Approve employee paid insurance plans for dental, vision, life, group Medicare, short- and long-term disability, pet, legal services, flexible spending accounts, and cancer/accident/critical illness at no cost to the City; City paid insurance plans for life insurance in the amount of $156,619; flexible spending accounts in the amount of $10,892; and health insurance administration fees in the amount $720,000
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OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable.
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The City’s insurance broker, Brown & Brown, surveyed the market and obtained rate quotes on the above-referenced insurances. The broker recommends the City not make any changes to the current insurance plan carriers.
FINDINGS AND CONCLUSIONS:
Staff agrees with the broker and recommends retaining the current insurance providers.
FISCAL IMPACT:
Funds for employer provided life insurance are available in account 844-218-000-000-21-21881.
Funds for health insurance administration fees are available in account 627-099-999-590-81-45010.
Funds for employee/employer flexible spending accounts (FSAs) are available in account 844-220-000-000-20-22125.
The remaining above referenced insurances are employee paid.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
Instruct the broker to resurvey the market for more competitive rates.