Focus Area: Exceptions Services (Human Resources)
Staff Contact: Erin Vader/Leslie Fortney
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title:
title
Consideration of contract extension with New York Life to provide Basic Life and AD&D, Supplemental Life and AD&D, and Short-Term Disability administration for the City of Olathe through December 31, 2028.
Body
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recommended motion:
Approve as part of the Consent Agenda.
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Summary:
Staff is requesting City Council approval to execute a contract extension with New York Life, the City's current provider for Basic Life and Accidental Death & Dismemberment (AD&D), Supplemental Life and AD&D, and Short-Term Disability insurance benefits. The extension will continue coverage and administrative services through December 31, 2028. New York Life has agreed to maintain current rates for the duration of the extension, resulting in no premium increases to the City or covered employees.
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Financial Information:
|
Monthly Premium |
2025 Monthly Premium Total |
|
January |
$39,744.12 |
|
February |
$39,807.89 |
|
March |
$39,889.49 |
|
April |
$39,914.88 |
|
May |
$39,608.05 |
|
June |
$39,700.64 |
|
July |
$39,506.76 |
|
August |
$39,499.97 |
|
September |
$39,522.26 |
|
October |
$39,599.90 |
|
November |
$39,597.33 |
|
December |
$39,397.45 |
|
2025 Annual Total |
$475,788.74 |
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Attachment(s):
Group Accident Policy OK 966572
Group Policy FLX-964964
Group Policy FLX-964963
Group Policy VDT-961235
Group Accident Policy OK 966573