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ITEM: RESOLUTION NO. R2022-67 (EMPLOYEE HEALTH INSURANCE)
A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL AUTHORIZING THE MANAGER TO (1) AWARD A CONSUMER DRIVEN HEALTH PLAN (CDHP) AGREEMENT WITH CIGNA HEALTHCARE TO PROVIDE HEALTH INSURANCE TO ELIGIBLE EMPLOYEES, DEPENDENTS, AND RETIREES, AND APPROVE HRA FUNDING FOR EACH ELIGIBLE EMPLOYEE TO COVER ALL COSTS ASSOCIATED WITH ANNUAL DEDUCTIBLES; (2) RENEW A CONTRACT WITH CIGNA TO PROVIDE DENTAL INSURANCE TO ELIGIBLE EMPLOYEES, DEPENDENTS, AND RETIREES; (3) RENEW A CONTRACT WITH HUMANA TO PROVIDE VISION INSURANCE TO ELIGIBLE EMPLOYEES, DEPENDENTS AND RETIREES; (4) RENEW A CONTRACT WITH CIGNA GROUP BENEFITS TO PROVIDE LIFE/AD&D AND DISABILITY INSURANCE; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Authorization to approve Resolution No. R2022-67 to (1) Award a Consumer Driven Health Plan (CDHP) agreement with CIGNA Healthcare to provide health insurance to eligible employees, dependents, and retirees, at a cost of approximately $5,952,233.52 annually, and approve HRA funding for each eligible employee at a cost of approximately $673,500, to cover all associated annual deductibles; (2) Renew a contract with CIGNA to provide dental insurance to eligible employees, dependents and retirees at an annual cost of approximately $ 343,757.28; (3) Renew a contract with Humana to provide vision insurance to eligible employees, dependents and retirees at an annual cost of approximately $32,906.588; (4) Renew a contract with CIGNA Group Benefits to provide Life/AD&D and disability insurance, to eligible employees, at a cost of approximately $254,487.07.
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EXPLANATION:
HEALTH INSURANCE PLAN AND HEALTH REIMBURSEMENT ACCOUNT (HRA): The Village currently offers group medical insurance to eligible full-time employees, dependents and retirees through CIGNA Healthcare at a cost of approximately $5,818,384.20 annually based on current enrollment of 290 active participants (employees, not including dependents). In additi...
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