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Consider approving the renewal of the contract with Blue Cross Blue Shield of Oklahoma to provide a health care coverage package (i.e. medical, vision, dental, Group Life & AD&D, Short-Term and Long-Term Disability, Accident, Critical Illness and MD Live insurance) to eligible City of Lawton employees and eligible retiree's effective July 1, 2024, and authorize the Mayor and City Clerk to execute the contracts.
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INITIATOR: Craig Akard, Human Resources Director
STAFF INFORMATION SOURCE: Craig Akard, Human Resources Director
BACKGROUND: The City of Lawton provides health care coverage, to include, health, dental, vision and other ancillary products, to city of Lawton employees and their families. The City contracted with Blue Cross Blue Shield (BCBS) for FY2024. Our insurance brokers, Insurica, contacted BCBS concerning any rate changes for FY25. There was a slight increase in premiums of 4.1%, for the health insurance portion of the package, which is well below the national trend from BCBS in the 9%-10% range. Due to this rate increase, Insurica also checked competing companies and none of those responding were offering rates better than BCBS. Insurica's suggestion was to renew all of the BCBS products we currently have which inlcude medical, vision, dental, Group Life & AD&D, Short-Term and Long-Term Disability, Accident, Critical Illness and MD Live coverage. No rates, except for those covering health insurance, are to change with this renewal. The Health and Wellness Committee met on March 13, 2024, and received a presentation from Insurica. After the presentation, the committee recommends renewing with BCBS, to include health, dental and vision and all other ancillary products listed. Contracts listed as exhibits were reviewed and approved by the City Attorney's office.
EXHIBIT: BCBS Renewal Acknowledgement 07-01-2024.
KEY ISSUES: Does the City of Lawton wish to renew the contract with Blue Cross Blue Shield of Oklahoma for ...
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