Agenda Item #44
The School Board's Medical Stop Loss Insurance Policy Renewal
The School Board's stop loss insurance policy is set to expire on December 31, 2016. We are currently negotiating the new policy to replace the expiring policy. We anticipate negotiations for this policy will be completed before the November 22, 2016 Board meeting, but pricing is unknown at this time.
A request for proposal was issued to the following Stop Loss carriers: AIG, CIGNA, HM Insurance, MunichRe, and Symetra.
The current annual premium paid for the 2016 plan year was approximately $579,555. We anticipate for the 2017 plan year renewal pricing to vary from a low of $509,834 to a high of $865,529. Once the policy is fully negotiated, we will bring the final pricing and terms including the deductible to the Board for consideration.
To grant the Superintendent authority to bind the School Board's Medical Stop Loss insurance policy once all pricing and terms are finalized.
Information - 11/22/2016
Consent after Information12/13/2016
Authority for Action
Board Policy 8710
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Operating - Other
Mark Langdorf, Director, Office of Employee Benefits and Risk Management, ext. 620