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TO: Mayor Richard C. Irvin
FROM: Alisia Lewis, Chief Human Resources Officer
DATE: August 27, 2024
SUBJECT:
A Resolution Authorizing Renewal of Benefit Consulting Services with Assured Partners, formerly Group Alternatives, Inc, for the Period of January 1, 2025 through December 31, 2027.
PURPOSE:
To obtain authorization to renew the agreement with Assured Partners for benefit consulting services.
BACKGROUND:
Assured Partners is a benefit consulting firm specializing in large employers, partnering with clients to control costs and maximize benefit offerings. The City first began utilizing Assured Partners services in 2015 to facilitate the RFP process for the third-party administration of benefits. They assisted the City through the evaluation period which resulted in CIGNA being selected for the City's third-party administration (TPA). Since that time, Assured Partners has provided services including but not limited to, securing the Humana Health Plan for Medicare eligible retirees, funding analysis, financial and compliance implications of legislative changes, provider network analysis including access and claim impact, ombudsmen with Cigna, Blue Cross and Blue Shield and Humana Medicare Advantage.
DISCUSSION:
Assured Partners continues to be instrumental in assisting the City with implementing cost effective changes while at the same time maintaining a robust benefit plan for the City's employees and retirees. Their recommendation to move the City PPO and Value HSA(HDHP) plans to Blue Cross Blue Shield of Illinois (BSBSIL) beginning January 1, 2025, will result in a guaranteed savings of 700,000. They also negotiated a renewal agreement with Blue Cross Blue Shield HMO for a 0% increase from the initial 5.6% for a savings of $500,000.
The data analytics that Assured Partners uses will continue to help the City mitigate rising cost and plan for the future.
The City is recommending to enter into agreement with Assured Partners for continuing se...
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