City of Gainesville - File #: 000861

• File #: 000861
• Version: 0
• Name: Specific Stop-Loss Insurance for Employee Health & Accident Benefits (B)
• Type: Staff Recommendation
• Status: Passed
• File created: 1/22/2001
• In control: City Manager
• Final action: 1/22/2001
• Title: Specific Stop-Loss Insurance for Employee Health and Accident Benefits (B)

Date	Ver.	Action By	Action	Result
1/22/2001	0	City Commission	Approved as Recommended

Title

Specific Stop-Loss Insurance for Employee Health and Accident Benefits (B)

Explanation

In September 1999 John Alden Life Insurance Company sold its stop-loss insurance business to Lincoln Re.  The City of Gainesville has a long-term relationship with this provider and as a result of this, the City receives special consideration during the underwriting phase of the procurement process.  This year the City's Insurance Broker has recommended and Risk Management agrees that the City's Stop-Loss Insurance should remain with Lincoln Re.  The current agreement has a 15% increase in the premium. 

Fiscal Note

Funds are available in the FY01 EHAB Fund Budget. 

Recommendation

The City Commission: 1) approve the selection of Lincoln Re as the carrier for Specific Stop-Loss coverage; and 2) authorize the City Manager or his designee to negotiate with and enter into an agreement for two additional years starting from the date of execution, subject to the approval of the City Attorney as to form and legality.