Title
Resolution to Approve the Amendment and Renewal of the City's Contract with EyeMed Vision Care, LLC to Provide Vision Benefit Coverage to City Employees and their Eligible Dependents, and to Authorize the City Administrator to Execute the Necessary Documentation ($344,964.00)
Memorandum
The attached Resolution authorizes the City Administrator to execute the amendment and renewal of the EyeMed Vision Contract for 2019, and authorizes related payments to EyeMed Vision Care to administer the City's Vision Plan.
Budget/Fiscal Impact: The necessary funds have already been appropriated as part of the FY19 approved budget through June 30, 2019. Required funding for the portion of contract term from July 1 through December 31, 2019, is planned to be budgeted in the future, along with the following years through December 31, 2022. The estimated annual cost of this employee benefit is $78,401.
This plan is a fully insured program, and requires the City to pay a set monthly premium that is in place for the next four years. The monthly premiums are $4.67 for single, $8.87 for two people, and $13.02 for a family from January 1, 2019 - December 31, 2022.
The costs for the program will fluctuate monthly depending on the number of employees enrolled in the program during any given month.
The City is in a current contract with EyeMed Vision Care through December 31, 2018. Employee labor contracts and the employee benefit plans establish the level of vision coverage for City employees. There is no change in the level of vision coverage with this renewal and payment authorization.
Staff
Prepared By: Jessica Hull, Employee Benefits Supervisor
Reviewed By: Robyn Wilkerson, Director of Human Resources and Labor Relations
Approved By: Howard S. Lazarus, City Administrator
Body
Whereas, The City provides vision care benefits to City employees and their eligible dependents in accordance with the employee benefits program and various labor contracts at an estimated a...
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