Title:
title
Approval of the Stop-Loss/Reinsurance contract renewal for calendar year 2025. Countywide (Christina Brandolini, Human Resources Director)
end
Division:
division
Human Resources - Employee Benefits
body
Authorized By:
Christina Brandolini, Human Resources Director
Contact/Phone Number:
Christina Brandolini/407-665-7940
Background:
Specific Stop-Loss/Reinsurance and Aggregate coverage provide protection for self-funded insurance plans. This coverage is utilized to protect the County against catastrophic claims. Current deductibles are $350,000 for individual-specific claims and $400,000 for aggregating specific deductibles.
The increase for Specific Stop-Loss plus Aggregate Stop-Loss for Plan Year 2025 is 16.42% above Plan Year 2024. A reduction of $1.99 per employee per month for gene therapy coverage has been factored in as it is now a benefit included in the County’s Cigna agreement; the overall increase for this renewal is 13.54%, a savings of 7.64% from the plan year 2024 (the initial Sunlife savings was 33%).
Requested Action:
Staff requests approval of the renewal contract using the current deductibles and coverages as quoted with SunLife.