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File #: 19-1141    Version: 1 Name: Contract 2015-0106 Amendment 1 SunLife
Type: Item Approved on Behalf of the Board Status: Passed
File created: 10/22/2019 In control: Board of Mayor & Aldermen
On agenda: 11/12/2019 Final action: 11/12/2019
Title: COF Contract No. 2015-0106 - Amendment 1, with Sunlife Stop Loss Renewal.
Sponsors: Kevin Townsel
Attachments: 1. LAW - Contracts Agreements - Contract 2015-0106 - PURCHASING - STOP LOSS INSURANCE AND HEALTH PHA(1).pdf

 

DATE:                                                               October 22, 2019

 

TO:                                          Board of Mayor and Aldermen

 

FROM:                                          Eric Stuckey, City Administrator

                     

                                          

SUBJECT:                                          

title

COF Contract No. 2015-0106 - Amendment 1, with Sunlife Stop Loss Renewal.

body

Purpose

The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning Amendment 1 of the City’s SunLife stop loss renewal contract.

 

Background

The City’s current vendor for stop loss is SunLife. Stop loss is a provision of an insurance policy; it’s intended to cut off the City’s losses at a specified point.

 

Financial Impact

The employee pays the stop loss premium depending on either individual or family coverage. The premium is folded into their overall medical insurance premium.

 

Recommendation

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Staff recommends approval of Amendment 1 of the SunLife stop loss contract.