Subject:
Title
Ranking of firms and agreement with Aetna Life Insurance Company for requirements of group Medicare advantage personnel benefits.
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Recommended Action:
Recommended Action
Approval of the ranking of firms and agreement with the number one ranked firm, Aetna Life Insurance Company (Aetna) for requirements of group Medicare advantage personnel benefits.
• This agreement provides third party administration services for the County sponsored and self-insured Medicare advantage plan to retired county employees and dependents.
• Three firms submitted proposals, Aetna was selected as the highest ranked firms and is recommended for award by the Human Resources Department.
• The agreement has a term of thirty-six months with a service start date of January 1, 2022 and a total expenditure of $20,800,000.00.
• This contract replaces a current contract that is expiring on December 31, 2021.
Contract No. 21-0162-P(LN) in the annual amount of $6,933,333.33 for a thirty-six-month contract value of $20,800,000.00. Authorize the Chairman to sign and the Clerk of the Circuit Court to attest.
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Strategic Plan:
Create a Quality Workforce in a Positive, Supportive Organization
1.3 Make workforce safety and wellness a priority
1.4 Maintain a fair and competitive compensation package
Summary:
Summary
The purpose of this contract is to hire a benefits provider to administer the fully insured Medicare Advantage plan to County retirees and dependents set to expire on December 3, 2021.
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Background Information:
A two-step RFP, on behalf of the Human Resources Department, was released on January 22, 2021, requiring qualification submittals in step one. Three (3) responsive submittals were received and determined qualified to participate in step two of the RFP which included oral presentations. After evaluation and presentations, Aetna was selected as the highest ranked firms. Negotiations were facilitated by the consulting firm of Willis Towers Watson.
The proposed program provides retired county employees and dependents with a Medicare Advantage plan. The firms in order of ranking are on the attached ranking spreadsheet.
Three firms submitted proposals, Aetna was selected as the highest ranked firms and is recommended for award by the Human Resources Department.
This contract replaces a current contract that is expiring on December 31, 2021.
Fiscal Impact:
Total annual estimated expenditure not to exceed: $ 6,933,333.33
Total estimated expenditure not to exceed: $20,800,000.00
Funding for this Agreement is derived from the HR Employee Benefits Fund
Staff Member Responsible:
Kimberly Crum, Director, Human Resources
Merry Celeste, Division Director, Purchasing and Risk Management, Administrative Services
Joe Lauro, Director, Administrative Services
Partners:
N/A
Attachments:
Medicare Group Agreement
Ranking Spreadsheet