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Satellite Beach presentation recommends Cigna after RFP; plan year to shift to fiscal year
Summary
A benefits consultant recommended Cigna as the best renewal offer after a request for proposals; the city’s employee health plan faces higher costs driven by a small number of very large claims and market-wide medical inflation. Council heard a plan to change plan accumulators to align with the city fiscal year.
Sean Fleming, a senior benefits consultant with the Pickering Group, told the Satellite Beach City Council on Aug. 20 that an RFP for the city’s employee health insurance produced a recommended renewal with Cigna.
Fleming said the market has shown sharp increases driven by medical inflation and a small number of very large claims. He reported the plan’s typical deductible and out-of-pocket structure under the current schedule: a single deductible of $500, a family deductible of $1,000, and out-of-pocket maximums of $3,000 for individuals and $6,000 for families. He said the city’s…
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