Title
Consider a memorandum/resolution recommending to the Employee Benefits Trust the selection of MetLife for employee dental insurance and approving contracts for vision insurance, life and disability insurance, and worksite benefits.
Body
DATE: June 18, 2024
TO: Kent Cagle, City Manager
FROM: Eva Bark, Executive Director of Human Resources
SUBJECT: Recommendation to the Employee Benefits Trust for the Selection of Dental Insurance and Approving Contracts for Vision Insurance, Life and Disability Insurance, and Worksite Benefits.
BACKGROUND AND FINDINGS:
The City of Killeen offers dental insurance as part of its employee benefits package. Currently, approximately 1,242 employees who elect the City 's dental insurance plans.
All benefits provided to the City of Killeen employees are reviewed annually to ensure that both the City and employees are receiving the best product for the best price. The City, in partnership with our benefit consultant Lockton Dunning, initiated a Request for Proposal (RFP) to solicit bids for dental and vision insurance to obtain the most competitive rates possible inside a rapidly changing environment.
The City's current dental carrier, MetLife, offers employees two dental plans. The City pays 100% of the dental premium for employee-only coverage on the lowest plan option. Employees may purchase additional dental care coverage for eligible family members or dependents at their added expense.
The annual expense for FY 2024 dental is $635,543. The City received four (4) responses to the dental RFP: MetLife, BCBSTX, Renaissance, and UHC. After thorough analysis of the responses received, it is recommended the City renew a negotiated contract with MetLife for an annual expense of $794,458 which includes a two (2) year rate guarantee.
The City's current vision carrier is Avesis. The City does not contribute to employee premiums for vision insurance. The City received four (4) responses to the vision RFP. Afte...
Click here for full text