Label
Stop Loss Insurance Services
Department of Human Resources
C. Brown (x1563)
Revised
Title
Authorizing the Mayor to enter into an Agreement for a term of one (1) year for the provision of specific stop-loss insurance services; authorizing the expenditure of funds in the amount of $421,070; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City's contract with Paramount Insurance Services, our current provider, expires on July 31, 2019. The City of Toledo sought competitive proposals for the provision of specific stop-loss insurance services related to hospitalization, surgical-medical, major medical, and medical management services for the City of Toledo's Police, Fire Chief's and Civilian employees. The Medical Mutual Insurance Company quote represents the lowest and best proposal. Funding is budgeted and was anticipated.
Funding for stop loss insurance is under the medical services account budgeted across all departments in approved operating budgets under account number 517400 (medical insurance).
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to enter into an agreement, for a term of one (1) year, commencing August 1, 2019 through July 31, 2020, for the provision of specific stop-loss insurance services. The agreement shall contain terms and conditions deemed proper and requisite according to the Director of Law.
SECTION 2. That the expenditure of funds in the amount of $421,070 is authorized from Account Code 1098-150325 for the purpose identified in Section 1, and said costs shall then be allocated to Account Number 517400 (Medical Insurance) within the various organization units.
SECTION 3. That the Director of Finance is authorized to draw his warrant or warrants against the account code authorized in Section 2, in payment of obligations upon presentation of proper voucher or vouchers.
SECTION 4. That this Ordinance i...
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