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County to take reinsurance RFP under advisement, risk committee to review options
Summary
Staff presented a single RFP response for medical-plan stop‑loss (reinsurance) with multiple attachment options; commissioners agreed to send the bid materials to the Insurance and Risk Management Committee for recommendation before purchasing action.
County staff presented the results of an RFP for stop‑loss (reinsurance) coverage on the county medical plan and recommended taking the single response under advisement for further review by the Insurance and Risk Management Committee.
Staff described how the county’s current stop‑loss starts at $500,000 per claim and that last year a single claim of roughly $2.3 million made the coverage pay for itself. The RFP responder provided pricing for different attachment points (for example $400,000, $500,000, $600,000 and $700,000) with corresponding per‑employee‑per‑month premium impacts. Staff recommended convening with the broker and the county’s benefits consultant (Michael) to review the numbers and to return to the risk committee with a recommendation; the RFP quotation was time‑limited (30 days).
Commissioners discussed whether the process would require a special meeting and asked staff to determine the bid expiration and present a formal recommendation through the risk management committee and purchasing before forwarding to the full commission. Staff confirmed there would be minimal county cost for third‑party administration if a vendor is selected because administrator fees are typically paid by projects; the county will have modest review time.
The committee voted to take the RFP and staff recommendation under advisement and refer the matter to the Insurance and Risk Management Committee for a recommendation.
Next steps: staff to meet with the broker and benefits consultant, prepare detailed premium comparisons by attachment point, confirm the quote expiration date, and return to the risk committee with a recommendation.
