City of Racine - File #: 0034-20

• File #: 0034-20
• Version: A
• Name: Subject: Communication sponsored by Alder Shakoor, II on behalf of the Human Resources Manager and City Attorney, requesting to appear before the Finance and Personnel Committee to discuss the City's Stop Loss Insurance coverage for 2020.
• Type: Communication
• Status: Passed
• File created: 1/10/2020
• In control: Finance and Personnel Committee
• On agenda: 1/21/2020
• Final action: 1/21/2020
• Title: Subject: Communication sponsored by Alder Shakoor, II on behalf of the Human Resources Manager and City Attorney, requesting to appear before the Finance and Personnel Committee to discuss the City's Stop Loss Insurance coverage for 2020. Recommendation of the Finance & Personnel Committee on January 13, 2020: That the Mayor and City Clerk be authorized and directed to enter into an agreement for the City's 2020 Health Insurance Stop Loss Coverage with American Fidelity Assurance Company through the Horton Group. Fiscal Note: Total annual premium for 2020 of $848,931. This is approximately a 2.46% increase from 2019. The amount includes the Water and Wastewater Utilities, but the City portion of the Stop Loss premium will be approximately $760,000 and funds are available in Account # 70312 52130, Stop Loss Premium.

Date	Ver.	Action By	Action	Result
1/21/2020	A	Common Council	Approved as Presented	Pass
1/13/2020	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Alder Shakoor, II on behalf of the Human Resources Manager and City Attorney, requesting to appear before the Finance and Personnel Committee to discuss the City's Stop Loss Insurance coverage for 2020.

Recommendation of the Finance & Personnel Committee on January 13, 2020: That the Mayor and City Clerk be authorized and directed to enter into an agreement for the City's 2020 Health Insurance Stop Loss Coverage with American Fidelity Assurance Company through the Horton Group.

Fiscal Note: Total annual premium for 2020 of $848,931. This is approximately a 2.46% increase from 2019. The amount includes the Water and Wastewater Utilities, but the City portion of the Stop Loss premium will be approximately $760,000 and funds are available in Account # 70312 52130, Stop Loss Premium.