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Reso 2023-3463
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Reso 2023-3463
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Last modified
3/1/2023 9:48:11 AM
Creation date
2/23/2023 5:30:24 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2023-3463
Date (mm/dd/yyyy)
02/16/2023
Description
Approving Cigna Healthcare as the provider of employee health insurance.
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Insurance Summary 2023 <br />Provider <br />Insurance Type <br />Summary <br />The recommendation is to remain with Cigna for medical <br />insurance. This was the most competitive proposal <br />received. Due to the high claims experience this past year; <br />Cigna originally proposed a rate increase of approximately <br />18.2% for the Cigna Buy Up Plan and 11.4% for the Cigna <br />Cigna <br />Medical <br />Base Plan (approximate annual amount* of $3,164,441.40). <br />Healthcare <br />After extensive negotiations, Cigna provided a proposal <br />with a rate increase of approximately 5.7% for the Cigna <br />Buy Up Plan and 2.6% for the Cigna Base Plan (approximate <br />annual amount* of $2,846,960.16), with no plan changes. <br />The recommendation is to remain with Cigna for dental <br />insurance. This was the most competitive proposal <br />received. Cigna provided a proposal with a rate increase <br />Cigna <br />Dental <br />Dental <br />of approximately 13% for the Cigna PPO Dental Plan and <br />4.5% for the Cigna DMO Plan (approximate annual <br />amount* of $169,641.84), with no plan changes. <br />Eyemed has extended their current rates at no additional <br />cost. Approximate annual amount* of $18,543.72. This will <br />EyeMed <br />Vision <br />be the second year of a four-year rate guarantee. <br />Life; Accidental <br />Mutual of Omaha has extended their current rates at no <br />Death & <br />additional cost. Approximate annual amount* of <br />Mutual of <br />Dismemberment; <br />$84,000.00 <br />Omaha <br />Long -Term <br />Disability; <br />Mutual of Omaha has extended their current rates at no <br />Voluntary Short <br />additional cost. Approximate annual amount* of <br />$60,000.00 <br />Mutual of <br />Term Disability <br />Omaha <br />and Voluntary <br />Voluntary Short Term Disability and Voluntary Life <br />Life Insurance <br />Insurance is at the sole cost of the employee. <br />*Please note that annual amount presented is an approximation based on current enrollment <br />of active employees, COBRA participants and retirees. Amounts may vary or fluctuate <br />throughout plan year based on new enrollments, addition of dependents or IRS allowed plan <br />changes. <br />
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