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Resolution approving contract extensions claim administrative fee with UnitedHealthcare, vision services with Superior Vision, and life insurance benefits with VOYA and request to enter into a contract with Symetra for stop loss insurance
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WHEREAS, the City of Wauwatosa is looking to extend their contracts with United Healthcare, Superior Vision and VOYA, and enter into a contract with Symetra for stop loss insurance;
WHEREAS, the following chart outlines the contract renewal prices for United Healthcare, Superior Vision and Voya insurance:
Company: UHC
Current: $34.71
Renewal: $28.28
Company: Superior Vision - EE Only
Current: $4.63
Renewal: $4.63
Company: Superior Vision - EE & Spouse Premium
Current: $9.25
Renewal: $9.25
Company: Superior Vision - EE & Children
Current: $10.25
Renewal: $10.25
Company: Superior Vision - EE & Family
Current: $16.16
Renewal: $16.16
Company: Voya - Employee Rate
Current: $0.175/$1,000
Renewal: $0.175/$1,000
Company: Voya - Dependent Rate
Current: $.056/unit
Renewal: $.056/unit
WHEREAS, the city contracts stop-loss insurance on an annual basis and received two quotes from a Request for Proposals process and from those quotes, is looking to enter into a contract with Symetra as they had the most competitive quote.
Stop Loss: Specific Premium - EE
Current: $171.83
Renewal: $194.08
Stop Loss: Specific Premium - FAM
Current: $419.69
Renewal: $507.70
Stop Loss: Aggregate Premium
Current: $3.37
Renewal: $4.12
Stop Loss: Excess Liability Laser
Current: N/A
Renewal: $275,000
NOW, THERFORE, BE IT RESOLVED by the Common Council of the City of Wauwatosa that the City renew their contracts with United Healthcare, Superior Vision and Voya, as well as, enter into a contract with Symetra, as more thoroughly outlined the Financial Affairs Meeting on 10/15/24.
By: Financial Affairs Committee
recommendation
Recommendation: Approve 8-0