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I <br />SEP 12 1989 <br />3. The maximum annual paid claims liability has been <br />revised from $1,182.99 per employee to $1,360.44 per <br />employee. The dependent liability figure has been <br />revised from $2,003.04 per dependent to $2,303.50 per <br />dependent. <br />4. The annual aggregate premium fee has been adjusted from <br />$12,800 annually to $15,100. 'This is a result of more <br />employees on our insurance plan. <br />5. The three (3) days estimated claims deposit has been <br />II adjusted from $18,720 to $24,300. <br />I.. <br />6. Life insurance premium costs have been reduced from <br />$.56 per $1,000 to $.45 per $1,000. <br />The overall result of the changes will probably mean an 15% increase in <br />the cost of health and life insurance costs to the county. In <br />.evaluating the increase, we feel it is reasonable taking into <br />consideration the broad coverage of our health plan, the nation_ wide <br />problem of skyrocketing medical costs and the recent announcement that <br />Indian River Memorial hospital is raising its rates over 20%. In fact' <br />several jurisdictions we surveyed have been notified their insurance <br />costs were going to increase over 20%. <br />The county's health and life insurance plan includes the Board of <br />County Commissioners, Sheriff, Clerk of Circuit Court, Property <br />Appraiser and Supervisor of Election employees. We are anticipating an <br />average of 970 employees will be on the plan and that it could reach a <br />peak of 1,150 employees. Historically we have had 33% of employees <br />requesting single health coverage and 67% of the employees requesting <br />dependent coverage. Based on the contract and estimated costs we have <br />budgeted $2,876,465 which we feel is adequate to cover the cost. <br />RECOMMENDATION <br />Staff recommends the Board of County Commissioners authorize the <br />Chairman to sign the contract between Indian River County and American <br />General Group Services Corporation.. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Scurlock, the Board unanimously approved <br />the contract with American General Group Services <br />Corporation, as recommended by staff, and authorized <br />the Chairman's signature. <br />CONTRACT AMENDMENT NUMBER 7 IS ON FILE IN THE OFFICE OF THE CLERK <br />TO THE BOARD <br />28 <br />i <br />I <br />