Title
RFP No. 2022-151 - Post 65 Retiree Health Insurance.
(Staff recommends all bids be rejected.)
Body
Name of Department
Human Resources
The City offers a High Plan option and Low Plan option for Post 65 Retiree Health and Prescription coverage through The Hartford.
The Hartford recommended a 25 percent increase on premiums for calendar year 2023. To save the City’s retirees a large percentage increase on their health insurance, the City decided to go out for bid. Once all bids were received, the City was able to negotiate a much lower agreed upon amount of 5.8 percent increase with The Hartford.
Financial Implications
Funding will be provided through the City’s Group Medical Insurance Fund.
Recommended/Desired Action
Staff recommends all bids be rejected.
Attachment(s)
Marketing Analysis
Drafter
Nick Domovich
Head of Department
Rick French