Label
Stop Loss Insurance - Anthem Life Insurance Company
Human Resources
Tyrome Alexander (x1031)
Revised
Title
Authorizing the Mayor to enter into an Agreement with Anthem Life Insurance Company for the provision of specific stop loss insurance services for a term of ten (10) months; authorizing the expenditure of funds; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo's current contract with Anthem Life Insurance Company for Stop Loss coverage will expire on July 31, 2022.
The City of Toledo's Department of Human Resources sought competitive requests for proposals in accordance with City policy and received one (1) proposal for stop loss insurance services related to hospitalization, surgical-medical, major medical, and medical management services for the City of Toledo's employees. The Human Resources Department in consultation with McGohan Brabender, the City's Benefits Consultant, reviewed the proposal and recommend that Anthem Life Insurance Company's proposal be accepted for a 10-month contract beginning August 1, 2022 through May 30, 2023. The timeframe will provide alignment with the City's Benefit Plan year. It is estimated the cost of the coverage will be approximately $510,000 for the 10-month period.
Summary
NOW, THEREFORE, Be it ordained by Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to extend the stop loss insurance agreement with Anthem Life Insurance Company to provide stop loss insurance services. Such Agreement shall contain terms and conditions deemed proper and requisite according to the Director of Law and Director of Human Resources.
SECTION 2. That expenditure of funds in amount necessary for the maintenance of the stop loss insurance services is authorized from the Healthcare Internal Service Fund Account Code 7083-17100-1156001STDSTD.
SECTION 3. That the Director of Finance is authorized to draw warrant or warrants against the account c...
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