Title
Employee Insurance Renewal FY2009 - Approval
History
The Horton Group provided the Village with renewal premium amounts for Fiscal Year 2009 for the Village’s medical and prescription drug, dental, vision, flexible spending, life/AD&D, and consulting services for our employee insurance program. A summary renewal packet is attached to this agenda item for reference purposes.
The Horton Group analyzed our current plans and marketed each of our existing plans. Based on the research and analysis conducted by The Horton Group, we recommend renewals to continue with Blue Cross Blue Shield, Delta Dental of Illinois, VSP, Fort Dearborn Life, Allied Benefit Systems and to continue consulting services with the Horton Group. A summary of supporting information for these recommendations is provided.
On August 25, 2008 this item was reviewed and approved (with one abstention) by the Finance Committee and referred to the Village Board for approval.
Financial Impact
The attached documents identify the overall budget impact. The FY2009 budget will
include $6,550,558.00 to cover the expenses associated with our employee insurance
program.
Recommended Action/Motion
I move to approve and accept the recommendations from the Horton Group for the employee insurance program - related costs effective October 1, 2008;
And
To retain the Horton Group’s services at the recommended rate for FY2009 with an option to renew at the same rate for fiscal year 2010 at the Board's sole discretion.