Title
Resolution to Approve a One-Year Professional Services Agreement with CompOne Administrators, Inc., for Third Party Administrative Services ($32,861.00 estimated)
Memorandum
The resolution before you is to approve a professional services agreement with CompOne Administrators, Inc. for third-party administrator (TPA) services related to workers' compensation claims. The City has an existing agreement with CompOne that expires on June 30, 2018. Funding for this project is budgeted and available in the Risk Fund.
Staff recommends a one-year extension with CompOne. For workers' compensation, the TPA and insurance carrier must work closely together. Additionally, the TPA must be approved by both the carrier and the State. CompOne has had such approval from our carrier and the State since 2013.
We typically contract with the TPA for multiple years, and renew our insurance annually. In 2017, our insurance carrier offered and we bound coverage for a very favorable 2-year policy, which overlapped the conclusion of our TPA contract by one year. This extension will allow us to realign our insurance and TPA agreements. Sole/Best Source approval was granted on April 20, 2018. The Board of Insurance Administration reviewed staff recommendations and approves of the contract with CompOne (see minutes of the April 26, 2018 Board of Insurance Administration meeting).
Staff
Prepared by: Matthew V. Horning, Treasurer
Reviewed by: Tom Crawford, Financial Services Area Administrator and CFO
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, The City must secure adequate workers' compensation third-party claims administration services;
Whereas, The City currently has a contract that expires June 30, 2018 for said services through CompOne Administrators, Inc.;
Whereas, CompOne Administrators, Inc. has provided a satisfactory one-year extension agreement with consistent pricing;
Whereas, The City desires to realign the expiration of its workers co...
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