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Staff outlines benefit renewal: Cigna renewal capped at 15%, recommend increasing basic life benefit
Summary
Benefits consultant presented renewal analysis showing an initial 26% renewal for medical but a 15% cap negotiated under last year’s RFP; staff recommended renewing with Cigna, bundling worksite products, and increasing the city-provided basic life insurance to 1x annual earnings up to $150,000.
City staff and benefits consultant presented the employee-benefits renewal analysis for plan year 2025–26 and recommended renewing medical coverage with Cigna under a contract provision that caps the renewal at 15% despite an initial renewal estimate of 26% based on claims experience.
Heath Hagood of HUB International reviewed recent claims trends and renewal drivers. For the 2023–24 plan year the city’s loss ratio finished about 92.6%; year-to-date figures for the current…
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