3.A.
Employee Benefit Trust Board Meeting
- Meeting Date:
- 09/11/2019
- Department Head:
- Maria Munoz
- Submitted By:
- Maria Munoz, HR Technician, Human Resources Department
ITEM:
Discussion and possible action on any and all matters regarding the approval and ratification of Stop Loss Carrier's renewal offer with Symetra Financial. (Susan Posada, Consultant and Broker)
SUMMARY:
On Employee Benefit Trust Board meeting held on June 12, 2019, the incorrect renewal offer was signed by board's Chairman, Gerardo Sanchez. This item is to ratify the offer and authorize Proposal number 152681, Option 1, as being the correct proposal
RECOMMENDATION / SUGGESTED MOTION:
I MOVE TO RATIFY AND APPROVE OPTION 1 WITH SYMETRA FOR FISCAL YEAR 2019-2020 AS PRESENTED.
Fiscal Impact
Fiscal Impact:
Correct fiscal impact of $486,925.00 stop loss insurance cost has been budgeted in FY 2019-2020- individual and aggregate stop loss is $317.52 less than the prior year.