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THE CHAIRMAN CALLED FOR THE QUESTION. The <br />Motion was voted on and carried unanimously. <br />OPTION AGREEMENT WILL BE PLACED ON FILE IN THE OFFICE OF <br />THE CLERK TO THE BOARD WHEN PROPERLY EXECUTED AND RECEIVED <br />HEALTH/LIFE INSURANCE <br />The Board reviewed the following memo dated 1/31/96 and letter <br />dated 2/6/96: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: January 31, 1996 <br />SUBJECT: HEALTH/LIFE INSURANCE <br />FROM: Joseph A B <br />OMB Directo <br />DESCRIPTION AND CONDITIONS <br />Over two years ago Indian River County sent out Request for Proposals to hire a consultant to review primarily <br />the employee group health insurance as well as life insurance, optional disability and develop a premium <br />conversion plan. Siver Insurance Management Consultants were hired at a cost of approximately $18,400 to <br />review our insurance. The result was a two year health insurance contract with Accordia of South Florida, Inc. <br />that reduced the cost of insurance by more than $850,000 in 1994/95 and over $1,000,000 in a two year period. <br />The contract expires September 30, 1996. <br />Based on the recent trend in claims in our employee group health insurance program, we feel there is a potential <br />for a significant increase in health fimra ►ce costs for the 1996/97 fiscal year. Health insurance is a very complex <br />and specialized field. Indian River County does not have anyone on staff with the expertise to do an in-depth <br />review of 1he health insurance plan and make recommended changes. A thorough review of the health insurance <br />will take consultants several months; therefore, staff feels we need to hire a health insurance consultant to do the <br />following: <br />► Review our existing health insurance plan <br />► Review our claims <br />► Review P.P.O. contracts <br />► Audit claims, if necessary <br />► Review all the County's options <br />► Make recommendations for changes in the plan <br />► Review and make recommendations on a premium conversion plan (cafeteria plan) <br />► Review our life insurance, disability, dental and other optional insurance <br />► Write documents to bid insurance, if necessary <br />► Review bid, if necessary <br />The insurance consultant was chosen over two years ago after the County sent out Requests for Proposals. An <br />insurance committee reviewed the proposal and recommended Siver Insurance Management Consultants. Siver <br />Insmance Management Consultants has been used on a continuing contract basis. <br />Staff would like permission to negotiate with Siver Insurance Management Consultants rather than sending out <br />another Request for Proposal. The three reasons for this decision are: <br />FEBRUARY 6, 1996 63 BOOK 97 pAcF.2+34 <br />