HomeMy WebLinkAboutR-2011-112 - Authorized Officials to Enter an Agreement with Symetra Financial for Specific & Aggregate Reinsurance Coverage with City's Self-Funded Group Health Plan RESOLUTION NO. 2011-112
A RESOLUTION OF THE CITY OF DANIA BEACH, FLORIDA,
AUTHORIZING THE PROPER CITY OFFICIALS TO ENTER INTO AN
AGREEMENT WITH SYMETRA FINANCIAL TO PROVIDE SPECIFIC AND
AGGREGATE REINSURANCE COVERAGE IN CONNECTION WITH THE
CITY'S SELF-FUNDED GROUP HEALTH PLAN; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA:
Section 1. That the proper City officials are authorized to execute documents
pertaining to reinsurance underwritten by Symetra Financial to include specific reinsurance, not
to exceed $118.04 per eligible employee, retiree or both per month and $246.13 per family per
month (specific medical and prescription deductible of $75,000.00); Aggregate Reinsurance in
an amount not to exceed $8.35 per eligible employee, retiree or both per month; an annual
underwriting fee not to exceed $2.00 per month per employee, retiree or both; such services to be
provided through Symetra.
Section 2. The annual funding for the cost of the City's health benefit program
reinsurance is estimated at $411,788.00 and shall be charged to the Health Insurance Fund Stop
Loss Insurance account#501-1800-519-3110.
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect October 1, 2011.
PASSED AND ADOPTED on September 27, 2011.
ATTEST:
LOUISE STILSON, CMC PATRICIA A. FLUR
CITY CLERK MAYOR
Is xi r
APPROVED AS TO F AND CORRECTNESS:
BY:
THOMM J. ANSB O
CITY ATTORNEY
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