Submitted By: Todd Swanson
presenter
Presentation By: Devan Kikendall
end
Department: Human Resources and Risk Management
STAFF RECOMMENDATION (Motion Ready):
title
Approve employee paid insurance plans for dental, vision, life, group Medicare, short-term disability, pet, legal services, flexible spending accounts, and cancer/accident/critical illness at no cost to the City and City paid plans in an annual amount $175,500 for life insurance, $11,345 for flexible spending account administration, and $19,709 for Employee Assistance Program premiums
end
OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
body
BACKGROUND:
The City’s insurance broker, Brown & Brown, surveyed the market and obtained rate quotes on the above-referenced insurances. The broker recommends that the City not make any changes to the current insurance plan carriers.
FINDINGS AND CONCLUSIONS:
Staff agree with the broker and recommend 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 the employee-paid life insurance are available in account 844-218-000-000-21-21880.
Funds for employee/employer flexible spending accounts (FSAs) are available in account 844-220-000-000-20-22125.
Funds for the Employee Assistance Program (EAP) are available in account 001-015-015-513-51-31010.
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.