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TO: <br />DAT : <br />Members of the Board <br />of County Commissidners <br />September 23, 1988 <br />SUBJECT: HEALTH INSURANCE CONTRACT <br />FROM: Joseph A. Bair <br />OMB Director <br />The American General Group Insurance Company Contract for <br />administrating the Indian River County health plan is due for renewal <br />October 1, 1988. American General Insurance Company is requesting the <br />administrative fee per employee/per month be increased from $10.76 to <br />$11.24. The cost of reinsurance (stop/loss insurance) at a specific <br />pooling of $50,000 has also increased to $11.51 per employee per month <br />from $8.73 per employee per month. The aggregate annual premium is the <br />payment of this which is increasing primarily due to the increase in <br />the size of the health trust. <br />All Board of County Commission, Sheriff, Clerk of circuit court, <br />Property Appraiser, 'and Supervisor of Elections -employees are included <br />in the health trust. We are anticipating that 1,010 employees will be <br />covered under the health insurance plan of which approximately 680 will <br />be married and 330 approximately will be covered -under the single plan. <br />• ffireo'Ll <br />•II&M <br />29 <br />Approved <br />Approved <br />Approved <br />Proposed <br />1985/86 <br />1986/87 <br />1987/88 <br />1988/89 <br />Insurance Premium: <br />Single <br />70.00 <br />70.00 <br />85.45 <br />89.70 <br />Family <br />167.50 <br />167.51 <br />221.22 <br />236.89 <br />Expected Claim Liability: <br />Employee <br />737.87 <br />737.87 <br />892.82 <br />946.40 <br />Dependent <br />1,249.36 <br />1,249.36 <br />1,511.72 <br />1,602.43 <br />Maxim= Claim Liability:; <br />Employee <br />922.34 <br />922.34 <br />11116.03 <br />1,182.99 <br />Dependent <br />11561.70 <br />1,561.70 <br />1,889.66 <br />2,003.04 <br />Armual Aggregate Premium <br />9,000.00 <br />9,270.00 <br />11,885.00 <br />12,800.00 <br />Administrative Premium/ <br />per month <br />10.99 <br />9.75 <br />10.76 <br />11.24. <br />Specific Pooling <br />At $50,000 Per Employee/Month 6.60 <br />7.65 <br />8.73. <br />11.51. <br />At $60,000 Per Employee/Month 0 <br />6.60 <br />7.65 <br />9.65 <br />At $75,000 Per Employee/Month N/A <br />N/A <br />N/A <br />6.98 <br />29 <br />