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Lockton's analysis indicates the Mutual of Omaha renewal proposal is reasonable. The impact to <br />retiree life insurance premiums under this proposal is outlined below: <br />Retiree Life Insurance Premium Comparison <br />Life Amount <br />Old Monthly Rate <br />New Monthly Rate 10/1/18 <br />$5,000 <br />$2.50 <br />$3.50 <br />$10,000 <br />$5.00 <br />$7.00 <br />$20,000 <br />$10.00 <br />$14.00 <br />DENTAL <br />Dental insurance for the Board of County Commissioners, Supervisor of Elections and Tax <br />Collectors benefit eligible employees is currently provided through Ameritas. To evaluate market <br />competitiveness, Lockton Companies marketed the dental insurance to eleven (11) carriers. Ten <br />(10) carriers responded. Several of the proposals were financially very competitive; however, <br />there would be a disruption to members due to changes in the network of participating dentists <br />if a change in carriers were to be made. Also, members currently enrolled under Ameritas may <br />lose their accumulated benefits under the current dental insurance program. As a part of the <br />dental marketing, Lockton was able to negotiate a 10% rate reduction with Ameritas with a two <br />(2) year rate guarantee through September 30, 2020 as outlined below: <br />Low Plan <br />Rates <br />Employee <br />EE+SP <br />EE-1-CH(ren) <br />Fanfily <br />Enroflnwnt <br />96 <br />25 <br />24 <br />52 <br />Current & Negotiated <br />W.92 <br />$51.44 <br />W.75 <br />487.20 <br />Renewal Ratei <br />$22.44 <br />$46.32 <br />$54.72 <br />78.48 <br />Total Monthly Premium <br />197 <br />$19,671 <br />$8,706 <br />Total Annual Premium <br />'116 052 <br />$104,478 <br />Difference from CCirrrenrt . <br />N A <br />-$11,574 <br />Difference from Current % <br />N/A <br />-1.0.0%b <br />Based on current enrollment, the renewal offer from Ameritas would result in over a $35,300 <br />annual savings to employees. There would be no network disruption to members under this <br />renewal offer and current accumulated benefits would remain in effect for members. <br />FUNDING <br />The Mutual of Omaha renewal is budget neutral with no increase in the employer paid premiums. <br />The increase in premiums is limited to retiree life insurance premiums and premiums for the <br />49 <br />