HomeMy WebLinkAboutAGENDA REPORT 1997 0820 CC REG ITEM 10RCity of Moorpark
Agenda Report
TO: The Honorable City Council
FROM: Richard Hare, Deputy City Man ge
DATE: August 61 1997 (CC Mtg. 8/20/97)
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ITEM
CITY OF MOORPARY, CALIFORNIA
City Cou it Meeting
of �2C� 1997
ACTION:
SUBJECT: Consider Employee Dental and Life Insurance Cove ar qe
Provided by The Guardian Insurance Company
The City was informed by our dental carrier Prudential Insurance, that
coverage would cease effective June 30, 1997. Staff, with the
assistance of the City's commercial insurance broker Tolman & Wiker,
requested proposals from several insurance companies.
The carriers were asked to match the current benefit plan provided by
Prudential Insurance as closely as possible per the Memorandum of
Agreement. Staff reviewed proposals provided by The Guardian, Delta
Dental, Foundation Health and PacifiCare. The Guardian Insurance
Company provided the only proposal which matched or exceeded the
benefits of Prudential Insurance.
With the conversion of our medical insurance from Principal Mutual to
the Public Employers Retirement System (PERS), the City's life
insurance coverage was canceled effective June 30, 1997.
Since PERS does not offer life insurance, Tolman and Wiker was asked to
provide the City with life insurance proposals with the intent to match
or exceed the benefits provided by Principal Mutual.
In addition to dental insurance, The Guardian also offers life
insurance coverage. The City was able to obtain life insurance
coverage as a rider to our dental plan with The Guardian. The attached
table indicates a monthly increase of 9.5 percent for both the dental
and life premiums combined. Adequate funds are available in this
year's budget to cover the increase because of health insurance premium
savings.
Coverage was maintained for employees by transferring to The Guardian
effective July 1, 1997. This coverage can be terminated with 30 -days
notice.
Staff recommends authorizing the City Manager to continue dental and
life insurance coverage with The Guardian Insurance Company.
Attachment: "A" Dental /Life Insurance Comparison Chart
000439
ATTACHMENT "A"
Prudential Dental
Principal Mutual Life
The Guardian Dental /Life
Percent
Increase
Dental $2,218.74
Dental: $2,492.05
Life $ 249.74
Life: $ 210.00
Monthly
Total: $2,468.48
Monthly
Total: $2,702.05
9.5%
C: \WPDOCS \CC.REP \dental insurance
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