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Committee picks Standard for disability and life policies, approves $50,000 life benefit for active employees
Summary
Rutherford County’s Insurance Committee approved a consolidated renewal package for long‑term disability, short‑term disability and life insurance, selecting Standard as the carrier for all three lines and increasing the county‑paid life benefit for active employees from $35,000 to $50,000.
Rutherford County’s Insurance Committee voted May 1 to accept the insurance director’s recommendation to consolidate long‑term disability (LTD), short‑term disability (STD) and life insurance coverage with Standard and to raise the county‑paid life benefit for active employees from $35,000 to $50,000.
Committee members and benefits staff explained that the county solicited bids and had Gallagher group the lines to devise the best package for price and employee disruption. Staff recommended Standard for LTD, STD and life after comparing package pricing, administrative continuity and a three‑year rate guarantee on the Standard proposals for the three lines.
The approved package keeps the existing STD elimination period option (0/7) and adds an optional 30/30 elimination period choice so employees with accrued days can elect a lower‑cost STD option. The motion also specified the life benefit change from $35,000 to $50,000 for active employees; staff indicated the premium impact for the life increase is modest.
Speakers on this item included Risk Management staff (presentation and recommendation) and committee members; Marissa Combs and Gallagher participated in the vendor review. Following discussion and clarification on options and implementation, the committee approved the recommendation by roll call vote.
Risk Management will implement the new carrier placements and the life benefit change, and will note the optional STD elimination period for enrollment materials and budgeting.
