Title
Amendment No. 3 to Existing General Services, Agreement No. AGR18-704 with Blue Cross Blue Shield of New Mexico, A Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association, in an amount not to exceed $3,800,800.000 for for the initial term plus first, second and third renewal terms, plus applicable gross receipts tax, for the purpose of providing medical insurance benefits to eligible Los Alamos County employees.
Recommended Action
I move that Council approve Amendment No. 3 to existing Services Agreement No. AGR18-704, with Blue Cross Blue Shield of New Mexico for Employee Medical Insurance Benefits, in the form attached, and authorize the use of approximately $600,000.00 in accumulated reserve funding towards expenses covered by the amendment.
County Manager's Recommendation
The County Manager recommends that Council approve Amendment No. 3 to existing Services Agreement No. AGR18-704 with Blue Cross Blue Shield of New Mexico for Employee Medical Insurance Benefits.
Body
The County's group insurance benefits plans, including medical insurance, are renewed at the beginning of the calendar year. Currently, the County pays 80% of the premiums for a full-time eligible employee, 60% for a three-quarter-time eligible employee, and 40% for a half-time eligible employee.
The County's medical plan is self-funded. Premiums collected from both the County and the employees fund claims and administrative fees associated with the Plan, including fees required by the Affordable Care Act. The Plan has very high participation. Of approximately 608 eligible regular and limited-term employees, eighty-one (81) percent have elected to enroll. One-hundred and sixty-seven (167) employees have "employee only" coverage. One-hundred and twelve (112) have "employee plus one" coverage. Two-hundred and twelve (212) have "employee plus two or more" (family) coverage.
The County offer...
Click here for full text