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Trust approves RFP and multiple 2026 benefit contract renewals totaling over $130 million
Summary
Trustees approved an RFP for custody bank services, elected a vice chair, and passed a package of joint resolutions renewing life, Medicare Advantage, dental, prescription administration and medical center agreements for 2026 with estimated combined costs exceeding $130 million.
At its Nov. 12 meeting, the Oklahoma City Post Employment Benefits Trust approved administrative actions and a slate of joint resolutions renewing several health- and benefit-related contracts for 2026.
The board elected Amy Madera as vice chair to preside in the chairs absence; the nomination was moved, seconded and approved. Trustees also approved the 2026 meeting calendar, setting regular meetings for the second Wednesday of each month at 3:00 p.m., with November moved to the third Wednesday because of Veterans Day.
Mitchell Massey requested approval to advertise an RFP for custody bank services, noting the current custody bank contract is in its final year. "We are requesting board approval to request proposals for custody bank services," Massey said. He told trustees the RFP would open the next day and close on Dec. 30, with a vendor recommendation to return to the board for approval in May.
Trustees approved a series of joint resolutions renewing vendor agreements for benefits administration and insurance coverage for participating public entities. Among the items approved were: renewal of a group life insurance agreement with Dearborn Life Insurance Company (doing business as Blue Cross Blue Shield of Oklahoma) with an estimated 2026 cost of $1,320,000; renewal of an administrative services agreement with UnitedHealthcare of Oklahoma Inc. for Medicare Advantage plans estimated at $4,000,000; renewal of a dental insurance agreement with Blue Cross Blue Shield of Oklahoma estimated at $4,100,000; renewal and amendment for third-party prescription administration services with Blue Cross Blue Shield of Oklahoma and Prime Therapeutics LLC estimated at $103,345,000; and amendment number 4 to the Premise Health master service agreement for the employee medical center program, extending the term through Dec. 31, 2026, with an estimated cost of $22,180,000. Board members asked no substantive questions on these items as they were presented; each motion was seconded and recorded as passed.
The board also ratified claims for the period Aug. 26 to Nov. 4, 2025, and adjourned at 3:25 p.m.
