HomeMy WebLinkAboutItem 09 - Stop Loss InsuranceMEMOTO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 1, 2020
SUBJECT: APPROVAL FOR THE AWARD OF RFP 498-2020 FOR MEDICAL AND
RX STOP LOSS INSURANCE
RECOMMENDATION: City Council to consider approval for the award of RFP 498-2020 for a
Medical and Rx Stop Loss insurance policy with Swiss Re for the Risk
Management Department.
FUNDING SOURCE: Funds are available in the General Fund Health Insurance Premium
budget for an estimated amount of $830,000.
BACKGROUND: The City of Grapevine is self-funded for employee and pre -65 retiree
medical and prescription insurance. Therefore, the City assumes all or a
portion of the risk for medical and prescription drug claims for all covered
members on its health plan. Stop Loss Insurance is designed to offer
effective protection against excessive claims by limiting the amount of risk
on any one individual insured.
An RFP was issued in accordance with Local Government Code Chapter
252, Subchapter B, Section 252.021(a) and Section 252.041(a) and in
conjunction with the City's insurance consultants; McGriff, Seibels and
Williams. The RFP was advertised in the Fort Worth Star Telegram on
July 23 and July 30, 2020. Three vendors submitted responses. The RFP
was opened publicly at the offices of McGriff, Seibels and Williams on
August 6 at 2 pm.
The City's insurance consultants, McGriff, Seibels and Williams evaluated
the three proposals from Swiss Re, Berkley and Sun Life based on the
City's requirements and the services offered. City staff reviewed the
proposals and determined that Swiss Re would provide the best service
and pricing for meeting the needs of the City.
Staff recommends approval
MH/LW