Legislation Details

File #: #R8271    Version: 1 Name: Aetna Second Renewal
Type: Resolution Status: Agenda Ready
File created: 10/9/2024 In control: CITY COMMISSION REGULAR MEETING
On agenda: 10/16/2024 Final action:
Title: Temp. Reso. #R8271 approving the second renewal agreement with Aetna Life Insurance Company for the provision of self-funded health insurance programs for City employees, dependents and retirees; establishing actuarial equivalent rates for insurance premiums for Calendar Year 2025 to include 100% of expected claims in an amount of $15,750,000; administration and stop loss fees in an amount $1,500,000; adding a contingency in an amount not to exceed 7%, or $1,208,000, of the anticipated annual expenses; totaling a not to exceed amount of $18,458,000. (Human Resources Director Randy Cross)
Attachments: 1. R8271 - Aetna Second Renewal Option with backup
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CITY OF MIRAMAR

PROPOSED CITY COMMISSION AGENDA ITEM

 

Item Description:

Title

Temp. Reso. #R8271 approving the second renewal agreement with Aetna Life Insurance Company for the provision of self-funded health insurance programs for City employees, dependents and retirees; establishing actuarial equivalent rates for insurance premiums for Calendar Year 2025 to include 100% of expected claims in an amount of $15,750,000; administration and stop loss fees in an amount $1,500,000;  adding a contingency in an amount not to exceed 7%, or $1,208,000, of the anticipated annual expenses; totaling a not to exceed amount of $18,458,000. (Human Resources Director Randy Cross)