CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Business and Financial Services 		For Meeting of:
December 14, 2015
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Amendment to Contract with Symetra Life Insurance Company for Stop Loss Insurance for City Self-Funded Employee Health Care Insurance for Plan Year 2016, RFP15-0097
Summary:

On December 8, 2014, City Council approved the contract with Symetra Life Insurance Company for Stop Loss Insurance for City Self-Funded Employee Health Care Insurance for a one year term that expires on December 31, 2015.

The Human Resources Department and Procurement and Contracts Division are requesting approval to extend the current contract for one (1) additional year in the estimated amount of $352,501.00. The following terms have been negotiated with Symetra Life Insurance Company for plan year 2016:

- No increase to the rate of $6.35 per subscriber per month.

- Increase of $50,200 to the aggregating deductible ($150,000 to $200,200). The aggregating deductible is only paid if individual health plan participants incur claims over $600,000 in 2016.

- If the City incurs the aggregating deductible, costs savings would still be 8.5% less than costs incurred in 2014.

All other terms of the current Symetra Life Insurance Company for Stop Loss Insurance for City Self-Funded Employee Health Care Insurance will remain unchanged from plan year 2015.

No City Certified M/WBE suppliers are registered for this commodity.
Fiscal & Efficiency Data:
Recommended Action:
Approval and authorization for the Chief Procurement Officer to negotiate and execute a contract amendment with Symetra Life Insurance Company, as indicated above. The final negotiated contract amendment will be subject to review and approval by the City Attorney’s Office.
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: David Billingsley
Approved By:

Department Date and Time
Budget Outside Routing Approval 12/2/2015 3:25 PM
City Clerk 12/2/2015 3:37 PM
ATTACHMENTS:
Name: Description: Type:
Fiscal_Impact_Statement_Contract_Effective_1-1-16.pdf Fiscal Impact Statement Fiscal Impact Statement
Symetra_Notification_of_Renewal_Jan_2016_for_signature_(2).pdf Notification of Renewal for 2016 Backup Material
Symetra_Renewal_Options_2016.pdf Renewal Options for 2016 Backup Material
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