File #: 15-0369    Version: 1 Name:
Type: Contract/Agreement Status: Passed
File created: 4/6/2015 In control: Board of Mayor & Aldermen
On agenda: 5/12/2015 Final action: 5/12/2015
Title: Consideration Of Bid Award To Sun Life Assurance Company Of Canada, Located In Wellesley Hills, Massachusetts, In The Total Estimated Annual Amount Of $313,159.20, For Stop-Loss Insurance For Employee And Retiree Health And Pharmacy Programs Of The City For Fiscal Year 2016 With Options To Extend (Purchasing Office Procurement Solicitation No. 2015-026; City Contract No. 2015-0106)(WS 4/28/15)
Sponsors: Shirley Harmon, Sara Sylvis
Attachments: 1. 2015-026 Tabulation of stop-loss bids, 2. 2015-026 recommendation from Cowan Benefit Services, Inc., 3. 2015-026 analysis from Cowan Benefit Services, Inc., 4. 2015-0106 Procurement Agreement 2015.04.30.1406, unsigned, with attachments except indemnification agreement

DATE: April 14, 2015

TO: Board of Mayor and Aldermen

FROM: Eric Stuckey, City Administrator
Russell Truell, Assistant City Administrator / CFO
Shirley Harmon-Gower, Director of Human Resources
Sara Sylvis, Risk Manager
Brian Wilcox, Purchasing Manager

SUBJECT:
title
Consideration Of Bid Award To Sun Life Assurance Company Of Canada, Located In Wellesley Hills, Massachusetts, In The Total Estimated Annual Amount Of $313,159.20, For Stop-Loss Insurance For Employee And Retiree Health And Pharmacy Programs Of The City For Fiscal Year 2016 With Options To Extend (Purchasing Office Procurement Solicitation No. 2015-026; City Contract No. 2015-0106)(WS 4/28/15)
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Purpose
The purpose of this procurement is to purchase stop-loss insurance for employee and retiree health and pharmacy programs of the City for fiscal year 2016, with four (4) options to extend, each time for up to one (1) additional year, for a maximum possible term of award of five (5) years total. Stop-loss insurance is reinsurance purchased to protect the City from paying the total cost of either a single large claim over a specific amount for a member or an aggregate (group) claim over a specified amount during a set time period for all members.

Background
The City published on March 19, 2015 a Notice to Bidders in the Williamson Herald for stop loss insurance for employee and retiree health and pharmacy programs. In addition, bid documents were sent on or about the same date directly to thirteen (13) potential bidders known or thought to be interested in this solicitation. Bids from four (4) vendors were publicly opened at the bid opening held on April 2, 2015. A tabulation of the bids received for this solicitation is attached.

The City's employee benefits consultant, Cowan Benefit Services, Inc., has analyzed the bids received. Please see the Cowan memorandum of recommendation, as well as a summary of the Cowan analysis, both attached. Please note...

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