HomeMy WebLinkAboutResolution - 2005-R0585 - Application For Insurance - Highmark Life Insurance Company- Stop Loss Insurance - 12_15_2005Resolution No. 2005-RO585
December 15, 2005
Item 5.24
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock, an Application for insurance
between the City of Lubbock and Highmark Life Insurance Company, for stop loss
insurance, and related documents. Said Application is attached hereto and incorporated
in this Resolution as if fully set forth herein and shall be included in the minutes of the
Council.
jPassed by the City Council this 15th day of December, 2005.
/ARC�MCDbUGAL, MAYOR
ATTEST:
i
�Rebec'ca Garza, City Secretary
VED AS TO
,Scott Snider, Director of Human Resources
APPROVED AS TO FORM:
Attorney
gs/ccdocs/Highmark Life Ins Co -stop loss.res
Dec. 6, 2005
Resolution. No. 2005—R0585
IGHMARK.
LIFE & C-AsuALTY GROUP
Highmark Life Insurance Company
Highmark Life Insurance Company of New York
Highmark Casualty Insurance Company
Highmark Services Company
January 17, 2006
City of Lubbock
1625 13'b Street #104
Lubbock Texas 79401
RE: City of Lubbock
POLICY # 401293-A - Stop Loss
Dear Marc McDougal:
The anniversary date of this account is January 1 2006. Based on our review of the current risk distribution
and past experience, we are pleased to offer our renewal terms as outlined.
The current individual and family monthly specific rates will be adjusted as follows:
Individual Family
Current: (12/15, $150,000 ded) $ 11.09 $26.32
Renewal: (12/15, $175,000 ded) $ 10.71 $24.85
The current individual and family monthly aggregate factors (125% corridor) will be adjusted as follows:
Individual Family
Current: (15/12, Med/Rx/Dnt) $250.25/$80.51522.86 $600.61/$193.21/$54.86
Renewal: (15/12, Med/Rx) $334.00/$80.94 $801.61/$194.26
The minimum annual attachment point based on the current enrollment of 1248 individual contracts and
1057 family contracts will be $18,845,756.52.
These rates will be in addition to the renewal aggregate premium of $2.27 per employee per month.
The renewal specific rates are based on a 12/ 15 contract for the policy period January 1 2006 through
December 31.2006.
Our renewal terms are based on the information provided. Any variance in this information will invalidate
our offer.
5956 Sherry Lane • Suite 1000 • Dallas TX 75225
www.highmarkl ife,com
e-mail: altrert.lucio@highmarklife.com
Telephone: (214) 346-2908 • (888) 282-9101 • Fax: (214) 346-2978
LH-h'IE L--4i
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Please have your client acknowledge acceptance of the renewal terms by signing and returning this no later
than 30 days from the date of this letter. Failure to remit the renewal premiums within the same 30 day
period may result in policy termination.
Sincerely,
Albert Lucio
Regional Sales - Dallas
Accepted the 115th /days+of December 12005
(Name)
(Title)