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Ms. Sybille Noble, Chairman, called the meeting to order.
Ms. Noble congratulated Ms. Riss and Ms. McCray on their re-election to the UPPC.
Ms. Noble turned the meeting over to Jim Martin, Deputy Administrator of Benefits, for discussion of the finalist presentations for the County Life and Disability programs.
Mr. Martin explained to the committee that the complete analysis of bids on the life and disability programs that was sent to them prior the meeting (see attached) was prepared by the County's consultants, the Segal Company. The committee was also informed that today they would hear from two finalists who had made the best and lowest overall bids. They are CIGNA and Standard Insurance Companies. Mr. Martin introduced Mr. Dan Bearden and Ms. Archana Kansagra, the two consultants from Segal who were instrumental in the analysis of the bids.
The consultants then explained the analysis of the bids with the committee in preparation for the finalist interviews.
The first finalist to be interviewed was CIGNA. The CIGNA presentation was made by Ms. Tonya Gaona, Ms. Rita Walker and Mr. Jeff Saik. After a few brief comments, they asked the committee for questions. The majority of the discussion about CIGNA's bid was focused on how they would manage long-term disability (LTD) and the advantage they had through coordination of LTD with our Health Plan. (CIGNA is one of the carriers on the County Health Plan). At the end of the discussion with CIGNA about their bid, they were asked to look specifically at their LTD and Voluntary Life bids and see if they could reduce them. They were asked to get back with the consultants early the following week.
The second finalist was Standard Insurance Company. Representing Standard was Ms. Abigail Lundt and Mr. Michael LaPointe. They made a complete presentation on their bid using the attached handout. In their presentation, they stressed how closely they had work with the County as our current LTD carrier in managing LTD claims. They offered a new back-to-work program for no additional cost if selected. At the end of their presentation, the committee asked questions about their bid. At the conclusion of the interview, they were asked to look at their basic life and dependent life bids and see if they could reduce them. They were asked to get back with the consultant early the following week.
After the finalist interviews were completed, the committee discussed the presentations. Out of that discussion, it was determined that the County could save $500,000 per year by reducing the 24-month own occupation and mental to 12-months.
Motion was made by Maurice Denbow to change the 24-month own occupation and mental to 12 months to reduce the cost. Seconded by Steve Baiel. Motion carried.
It was also decided by the committee that in the interest of time, that the Finance Department would make the final decision based on the final bids to be submitted the week of November 6, 2006.
Motion was made by Lee Wessels to allow the Finance Department to make the final decision based on the final bids to be submitted the week of November 6, 2006, and seconded by Minnie McCray. Motion carried.
Ms. Noble asked for a motion to approve the minutes from the meeting held on September 18, 2006.
Motion was made to approve the minutes of September 18, 2006 by Eleanor Riss. Seconded by Minnie McCray. Motion carried.
Other Business
Motion was made to adjourn by Lee Wessels. Seconded by Eleanor Riss. Motion carried.
Respectfully submitted,
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Shasta L. Sharp, Committee Recorder
November 16, 2006
Standard Insurance Company - Life Insurance Proposal
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