Title
Resolution accepting the recommendation of the Chief Procurement Officer authorizing agreements with AFLAC, Inc. and the Comprehensive Companies to administer a Voluntary Employee Benefits Program (Section 125 Cafeteria Plan) pursuant to Section 2-828 of the Procurement Code and Request For Quotes (RFQT) 2009.04.14 for an initial three (3) year period, with annual renewals, not to exceed a term of ten (10) years.
Brief History
The City has provided a Voluntary Employee Benefits Program to its employees since July 1, 1990. This voluntary benefits program consists of several insurance programs that are offered through payroll deductions at the employee’s expense as follows: short term disability, universal life insurance, cancer policy and critical life. The Voluntary Employee Benefits Program also provides eligible employees these insurance programs on a before tax basis through a Section 125 Cafeteria Plan under the Internal Revenue Code.
On April 14, 2009, the Procurement Division of Finance formally advertised, issued and distributed the Voluntary Benefits Program Request for Quotes (RFQT) 2009.04.14. Those firms responding to the RFQT were the following: Comprehensive Companies, AFLAC, Colonial Life, Humana, All-State, Business Plans Inc. and the Hartford Life Insurance Company. Two (2) firms, All-State and Business Plans Inc., were eliminated from further consideration for submitting nonresponsive quotes. The Hartford Life Insurance Company submitted a no bid response. The four (4) remaining firms were invited to make presentations to a Selection Committee.
The Selection Committee recommended that an agreement be awarded to AFLAC to administer a Voluntary Employee Benefits Program to eligible City employees through a payroll deduction. In addition, to maintain the continuity of existing voluntary benefit programs for current City employees and to provide all employees with a choice of voluntary benefit providers it is recommended that a n...
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