Title
Approving OptumHealth Contract Renewal as the City's reinsurance provider for the 2016 Calendar Year
Summary
Description of Topic: The City has received four quotes for reinsurance coverage on health care claims, and, OptumHealth who is the City's current reinsurance provider has provided the lowest quote. The City desires to renew the contract with OptumHealth for the 2016 calendar year.
Budgetary Impact: No Budgetary Impact.
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, the City has received four quotes for reinsurance coverage on health care claims, and, OptumHealth who is the City's current reinsurance provider has provided the lowest quote. The City desires to renew the contract with OptumHealth for the 2016 calendar year.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: The City elects to accept the OptumHealth Renewal Quote (attached) to administer the the Blue Cross Blue Shield of Alabama health insurance as a self-insured plan with reinsurance for claims over $50,000 being provided by OptumHealth with no changes to the health plan other than those federally mandated by the Patient Protection and Affordable Care Act (Healthcare Reform).
SECTION 2: No budget adjustment is needed or being requested for this action.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.