10C (PDF) by chrstphr

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									                             ALACHUA COUNTY BOARD OF COUNTY COMMISSIONERS
                                         AGENDA ITEM SUMMARY
       AGENDA SECTION:        Consent/         County Manager        SSG                    ITEM #:

                   MEETING DATE:                           DATE COMPLETED:                            TIME CERTAIN:
                                                            June 8, 2006
                     June 27, 2006                                                                        NO
       ITEM DESCRIPTION:   Approval of Self Insurance Review Committees recommendation for renewal of Life
                           Insurance program and authorize staff to negotiate an agreement for RFP #06-306: Group
                           Term Insurance
               REQUESTED BY:               ORIGINATING DEPARTMENT:    PREPARED BY:               Wade F. Gillingham
           Wade F. Gillingham             Admin. Svcs/ Risk Mgt.      PREPARER’S PHONE #:                374-5297
       DOCUMENT(S)         None                                                                 AMOUNT:
       REQUIRING
       ACTION:
                                                                                                  Rate based contract

       EXECUTIVE SUMMARY:
       That the Board approve the Self Insurance Review Committee's recommendation for RFP # 06-306; Group
       Term Insurance for Alachua County, and authorize staff to negotiate an agreement with the top ranked
       company, Minnesota Life Insurance Company.

       BACKGROUND:
       On June 6, 2006, The Self Insurance Review Committee met to review the recommendations made by
       Gallagher Benefits Services, Inc for RFP # 06-306; Group Term Insurance, which was advertised on
       DemandStar and bids solicited by Gallagher Benefits Services, Inc., an independent benefits consulting firm.
       This is a rate based contract and the actual cost to the county will be determined by the number of participants
       at the coverage levels requested. However, the cost to the county is estimated to be $70,000 annually.
       The proposed rates do represent a 29% reduction to the current basic life rate, a 45% reduction to the retiree
       life rates, and a 19% reduction to our current supplemental life rates.
       Supplemental Life coverage will also be offered on a guaranteed issue basis if applied for within 31 days of
       initial eligibility at an amount of the lesser of 3X salary or $250,000.
       After consideration and discussion, the committee moved to recommend to the Board approval of Minnesota
       Life Insurance Company’s proposal for Alternative 1 Group Life Proposal, which would include an employer
       paid $10,000 basic life policy for all full time employees.


       ISSUES: The continuation of a Group Term Life Benefit program for County Employees


                                                           ACTION
       Recommendation:             That the Board approve the Self Insurance Review Committee's recommendation for
                                   RFP #06-306; Group Life Insurance and authorize staff to negotiate an agreement
                                   with the recommended company, Minnesota Life Insurance Company and authorize
                                   Chair's signiture.
       Alternative #1:             Not approve final recommendation for RFP # 06- 306

                                                       FISCAL IMPACT
       Recommendation:             Rate based contract – estimated to be $70,000 annually

       Alternative #1:             No fiscal impact


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                            ALACHUA COUNTY BOARD OF COUNTY COMMISSIONERS
                                        AGENDA ITEM SUMMARY
       Funding Sources:         various

       Account Code:

       ATTACHMENTS:                     None

       SUGGESTED REFERENCE              None
       MATERIAL:


         DEPARTMENT DIRECTOR       OMB & CONTRACTS       AGENDA OFFICE         LEGAL            COUNTY MANAGER



       COMMISSION ACTION
       APPROVED __________________         DENIED_____________________________
       Additional Action: _____________________________________________________________________

         REVISED: February 6, 2004




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