Item C50
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Revised 3/99
BOARD OF COUNTY COMMISSIONERS
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AGENDA ITEM SUMMARY
Meeting Date: 09/20/2000
Bulk Item: Yes ~ No 0
Division: MANAGEMENT SERVICES
Department: HUMAN RESOURCES /
GROUP INSURANCE
AGENDA ITEM WORDING: Approval to renew the contract with LINCOLN Re (formerly
the John Alden Life Insurance Company) for Specific and AQQreQate Stop Loss
Insurance for the County's Employee Benefit Plan.
ITEM BACKGROUND: This is the second year renewal of the contract. LINCOLN Re
has aQreed to renew at the same rates with a specific deductible of $100,000 per
individual. The current $85,000 deductible has been in place since 1994.
PREVIOUS RELEVANT BOCC ACTION: Approved throuQh RFP IN 1999. First
contract year (1999-2000) was approved at meetinQ of 09/08/1999.
STAFF RECOMMENDATION: Approval.
TOTAL COST: $ 635.000.00
BUDGETED: Yes r8J No 0
COST TO COUNTY: Same as above.
REVENUE PRODUCING: Yes 0 No ~ AMOUNT PER MONTH
YEAR
APPROVED BY: COUNTY ATTY D OMS/PURCHASING D RISK MANAGEMENT g" uJ. fZ- .
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DIVISION DIRECTOR APPROVAL: ...... .L .~L cJ{.-~ 1
DIVISION DIRECTOR NAME: JAMES L. ROBERTS
DOCUMENTATION: INCLUDED: ~
TO FOLLOW: 0 NOT REQUIRED: 0
AGENDA ITEM #: J ' Ce::;O
DISPOSITION:
SEP-06-2000 14:04
FROM-
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T-551 P 002/002 F-018
LINCOLN RE RISK MANAGEMENT SERVICES
'(HIS IS NOT A BINDER OR CONTRACT OF INSURANCE
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Excess Loss Carrier: John Alden Life Insurance Company
Proposed Coverage for:
Monroe County BOCC
Benefits Covered: Medical/Rx
Effective From;
10/1/00
to
9/30/01
Assumed Enrollment:
Single
Family
Total
1071
515
1586
Aggregate Exce5s Loss: Maximum Benefit $1,000,000
Attachment Factors: Single
Family
Estimated Annual Attachment Point
Aggregate Coverage Basis
Specific Excess LOS6: Max Benefit
Specific Deductible per Individual
Specific Rate Single
Family
Estimated Annual Promium
Specific Coverage Basis
Aggregate Rate
Single
Family
Estimated Annual Premium
Total Estimated Maximum Cost
545.40
545,40
$10,380,053
PAID
$900,000
$100,000
$2547
$51 ,12
$643,262
PAID
$2.40
$240
$45,677
S 11,068.992
DentalNislon Aggregate Factors are an additional 37.61 per employee per month,
Aggregate terms include a 20% corridor
Conversion cost is included.
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