Group Health Insurance (Stop Loss Coverage)

The City of Edmond is seeking proposals for stop loss coverage for its self-funded medical plans. The coverage should be effective from January 1, 2026, to December 31, 2026, with the option to renew annually. The city has approximately 853 active health plan participants and 33 retirees enrolled in the health plan. The proposal should include detailed information on the organization, financial information, and any contingency requirements. The city reserves the right to reject any proposal that does not meet its requirements. • The city's current medical plans are self-funded PPO plans with aggregate and specific excess loss coverage. • The city is looking for a provider that can offer stop loss coverage with a specific deductible of $200,000. • The city has a comprehensive benefits package for its employees, including medical, prescription, dental, vision, and life insurance. • The city contributes 100% of the employee-only premium for the ACO plan, and employees can buy up to two PPO benefit plan options. • The city has the option to renew the contract annually, dependent on the prior year's performance and mutual agreement. Some key points to consider: • The city is looking for a provider that can offer competitive rates and flexible plan options. • The city values transparency and clarity in the proposal, with an emphasis on completeness and content. • The city reserves the right to negotiate with firms to arrive at a mutually agreeable relationship. • The city may conduct interviews with finalists, and the final evaluation and selection of a contractor will be made by the city and submitted to the Edmond City Council for approval.