HomeMy WebLinkAboutDocumentation_Regular_Tab 15_8/8/2019Agenda Item #15.
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Regular
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Meeting: Regular Council - Aug 08 2019
Staff Contact: Merlene Reid, Assistant Department: HR
Manager/Director of Human
Resources
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Approval of the 2019/2020 Insurance Renewals (Health,Dental and Group Life)
Based on market and Florida Blue's book of business trends, the Village initially budgeted a 10O/O
increase for FY2019/20. In mid -July, Florida Blue submitted increases of 10.4% to retain current
benefits for the Traditional plan and 9.06% for the High Deductible Health plan. The Village
requested RFPs from all major health insurance providers, however after subsequent rounds of
negotiations, Florida Blue returned the lowest premium increases of 3.7% for the Traditional plan
and 2.41 % for the HDHP.
Our brokers (The Gehring Group) were also asked to conduct RFPs for all benefits lines. Our
analysis found that moving our Dental and Life coverages from Metlife and Lincoln Financial
respectively to The Standard, results in a total premium increase of only 0.6% or $8,056 to the
Village (see Appendix 1). Employees will also profit from further bundling of Vision, Voluntary Life
and Long Term Disability with The Standard, insurance coverages that are 100% employee paid.
The cost summary outlined in Appendix 1 is based on the number of employees at July 1, 2019 and
their current choice of plans (family/individual). At its meeting on July 22, 2019, the Benefits
committee reviewed the numbers and alternate proposals provided and unanimously agreed to
recommend to the Village Manager that the final numbers be accepted. HR is therefore requesting
that the recommendations below be approved:
1. Renew the health insurance with Florida Blue, and
2. Move the Dental insurance and Life Coverages to The Standard.
Benefits Committee Members
Management Reps. Union Reps
Brad Gomberg, I.T. Director Jason Fawcett, IAFF
Tatiana Racanati, Assistant Finance Director Ray Korkowski, PBA
Merlene Reid, HR Director/Chair Vincent Chesnes, CWA
POTENTIAL MOTION- • •
Council approval for the 2019/2020 Insurance Renewals (Health,Dental and Group Life)
Page 177 of 182
Agenda Item #15.
2019-20 Benefits Executive Summary
Page 178 of 182
APPENDIX 1
oyee�en�efifs-Executive Cost Summary
Effective Date: October 1, 2019
C GEHRING GROUP°
EMPLOYEE BENEFITS I RISK MANAGEMENT
COVERAGE
CURRENT
RENEWAL/RFP AWARD
Florida Blue
HEALTH
TRADITIONAL 3768
Total
Florida Blue
Employer
Employee
Total
Employer
Employee
Employee
49
$682.05
$682.05
$0.00
$707.18
$707.18
$0.00
EE+Spouse
3
$1,623.28
$1,387.97
$235.31
$1,683.08
$1,439.11
$243.97
EE+Child(ren)
12
$1,254.97
$1,111.74
$143.23
$1,301.20
$1,152.70
$148.50
EE+Family
32
$2,127.99
$1,766.51
$361.49
$2,206.39
$1,831.59
$374.80
MONTHLY PREMIUM
96
$121,445.61
$107,453.41
$13,992.20
$125,919.94
$111,412.35
$14,507.59
ANNUAL PREMIUM
96
$1,457,347.32
$1,289,440.89
$167,906.43
$1,511,039.28
$1,336,948.20
$174,091.08
$ INCREASE
N/A
N/A
N/A
$53,691.96
$47,507.31
$6,184.65
% INCREASE
N/A
N/A
N/A
3.7%
3.7%
3.7%
HDHP 5180/81
Total
Employer
Employee
Total
Employer
Employee
Employee
2
$607.22
$607.22
$0.00
$620.73
$620.73
$0.00
EE+Spouse
0
$1,395.05
$1,198.09
$196.96
$1,431.51
$1,228.82
$202.69
EE+Child(ren)
1
$1,078.52
$960.70
$117.83
$1,106.71
$985.22
$121.49
EE+Family
0
$1,828.80
$1,523.41
$305.40
$1,876.60
$1,562.63
$313.97
MONTHLY PREMIUM
3
$2,292.96
$2,175.14
$117.83
$2,348.17
$2,226.68
$121.49
ANNUAL PREMIUM
3
$27,515.52
$26,101.62
$1,413.90
$28,178.04
$26,720.16
$1,457.88
$ INCREASE
N/A
N/A
N/A
$662.52
$618.54
$43.98
% INCREASE
N/A
N/A
N/A
2.4%
2.4%
The Standard
3.1%
DENTAL
DENTAL PPO
Total
MetLife
Employer
Employee
Total
Employer
Employee
Employee
59
$41.02
$41.02
$0.00
$27.98
$27.98
$0.00
EE+Family
40
$110.74
$41.02
$69.72
$94.90
$27.98
$66.92
MONTHLY PREMIUM
99
$6,849.78
$4,060.98
$2,798.80
$5,446.82
$2,770.02
$2,676.80
ANNUAL PREMIUM
99
$82,197.36
$48,731.76
$33,465.60
$65,361.84
$33,240.24
$32,121.60
$ INCREASE
N/A
N/A
N/A
-$16,835.52
-$15,491.52
-$1,344.00
% INCREASE
N/A
N/A
N/A
-20.5%
-31.8%
The Standard
-4.0%
LIFE
Lincoln
Total
Financial Group
Employer
Employee
Total
Employer
Employee
Life Rate
$0.340
$0.340
$0.00
$0.139
$0.139
$0.00
AD&D Rate
$0.030
$0.030
$0.00
$0.020
$0.020
$0.00
Life Volume
$9,806,000
$9,806,000
$9,806,000
$9,806,000
$9,806,000
$9,806,000
AD&DVolume
$9299,000
$9,299,000
$9,299,000
$9,299,000
$9,299,000
$9,299,000
MONTHLY PREMIUM
$3,613.01
$3,613.01
$0.00
$1,549.01
$1,549.01
$0.00
ANNUAL PREMIUM
$43,356.12
$43,356.12
$0.00
$18,598.17
$18,588.17
$0.00
$ INCREASE
N/A
N/A
N/A
-$24,767.95
-$24,767.95
$0.00
% INCREASE
EMPLOYEE.Directions
N/A
Total
N/A
Employer
N/A
Employee
-57.1%
Total
-57.1%
Employer
0.0%
Employee
EAP Rate
99
$2.61
$2.61
$0.00
$2.77
$2.77
$0.00
MONTHLY PREMIUM
$258.39
$258.39
$0.00
$274.23
$274.23
$0.00
ANNUAL PREMIUM
$3,100.68
$3,100.68
$0.00
$3,290.76
$3,290.76
$0.00
$ INCREASE
N/A
N/A
N/A
$190.08
$190.08
$0.00
% INCREASE
N/A
N/A
N/A
6.1%
6.1%
Employer
0.0%
Employee
SUMMARY
TOTAL ANNUAL PREMIUM
Total
$1,613,517.00
Employer
$1,410,731.07
Employee
$202,785.93
Total
$1,626,458.09
$1,418,787.53
$207,670.56
$ INCREASE
N/A
N/A
N/A
$12,941.09
$8,056.46
$4,884.63
% INCREASE
N/A
N/A
N/A
0.8%
0.6%
2.4%
Page 179 of 182