Submitted By: Todd Swanson
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Presentation By: Todd Swanson
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Department: Human Resources and Risk Management
FORMAL TITLE:
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Renewal of employee paid insurance plans for dental, vision, voluntary life insurance, group Medicare, short-term disability, pet insurance, legal services, identity theft protection, cancer/accident/critical illness benefits, and voluntary retiree life insurance, and the renewal of City paid insurance plans for basic life and accidental death and dismemberment insurance in the amount of $183,250, long-term disability in the amount of $353,632, employee assistance program services in the amount of $19,709, flexible spending account administration in the amount of $8,665, and health insurance administration fees in an amount not to exceed $795,000 for the October 1, 2026 through September 30, 2027 plan year
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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 renewal rate quotes for the above-referenced insurance programs. Based on its market analysis, Brown & Brown recommends renewing the City's current insurance carriers, as they continue to provide the best overall value and coverage.
Brown & Brown also recommends transitioning the employee paid pet insurance benefit from Nationwide to Spot Pet Insurance, which offers participating employees enhanced coverage options at a lower cost.
FINDINGS AND CONCLUSIONS:
Staff agrees with the broker and recommends retaining the current insurance providers.
FISCAL IMPACT:
Funds for employer-provided basic life and AD&D insurance in the amount of $183,250 are available in account 844-218-000-000-21-21881.
Funds for long-term disability in the amount of $353,632 are available in the 844-218-000-000-21-21883 employee benefits budget.
Funds for health insurance administration fees are available in account 627-099-999-590-81-45010. The ASO fee wi...
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