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CONSENT AGENDA <br />1W01[_Lllllr143d011101WA <br />MEMORANDUM <br />TO: Jason Brown <br />County Administrator <br />FROM: Suzanne Boyl4� <br />Human Resources Director <br />DATE: June 4, 2018 <br />?c <br />SUBJECT: Approval of a Renewal Contract for Basic Life, Voluntary Life, Voluntary Retiree <br />Life, Voluntary Long -Term Disability with Mutual of Omaha and Dental Insurance <br />with Ameritas <br />BACKGROUND: <br />On June 17, 2014, a contract was awarded to Mutual of Omaha for basic life insurance, voluntary <br />life insurance, voluntary retiree life insurance, and voluntary long-term disability (LTD). A <br />contract was also awarded to Ameritas for dental insurance. The rate guarantees for these <br />benefits expire September 30, 2018 and Lockton Companies marketed these benefits to evaluate <br />offerings in the market place in comparison to renewal proposals. <br />LIFE LTD <br />The County's broker and benefits consultant, Lockton Companies, marketed the County's life and <br />disability benefits to twelve (12) carriers. Each of the proposals received, included an overall rate <br />increase. <br />The renewal proposal from Mutual of Omaha (MOO) under our existing policies was also <br />reviewed and compared to the marketed proposals. The MOO renewal offers a two (2) year rate <br />guarantee through September 30, 2020. The policy provisions remain unchanged. The renewal <br />proposal is attached and outlined below: <br />■ Basic Life (employer paid) <br />■ Child Life Rates (employee paid) <br />■ Retiree Life (Retiree paid) <br />■ Basic AD&D Rates (employer paid) <br />■ Voluntary Life Rates (employee paid) <br />■ Voluntary Life Rates (employee paid) <br />■ Grandfathered and Composite Rated <br />■ Voluntary AD&D Rates (employee paid) <br />■ Voluntary LTD (employee paid) <br />No change in rates <br />No change in rates <br />Increase from .50 per 1,000 to .70 per 1,000 <br />No change in rates <br />No change in rates <br />Increase from $.38 per 1,000 to .50 per 1,000* <br />No change in rates <br />No change in rates <br />*The updated premium to include $.04 AD&D premium will be $.54 per 1,000 — current is $.42 per 1,000 <br />