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City staff recommend switching short-term, long-term and life insurance vendor to Symetra; changes to take effect Jan. 1
Summary
Human-resources staff recommended moving short-term disability, long-term disability and basic life insurance to Symetra, citing vendor responsiveness and projected cost savings; the proposed medical renewal with Blue Cross Blue Shield was described as a modest increase.
City staff presented the annual employee benefits review at the Oct. 2 workshop and recommended changing the vendor for short-term disability (STD), long-term disability (LTD), and basic life insurance to Symetra beginning Jan. 1.
Andrew Patton walked the board through the bid results. He said the city solicited bids through its broker Willis Towers Watson and found Symetra would reduce costs by about 40% on STD and LTD and 30% on basic life…
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