Title
Approval of Amendment No. 3 to Existing General Services, Agreement No. AGR24-67 with Blue Cross Blue Shield of New Mexico, in an Amount Not to Exceed $5,100,000, for the Initial Term through December 31, 2027, For the Purpose of Providing Medical Insurance Benefits to Eligible Los Alamos County Employees and Their Dependents, and Authorize the Use of Up to $300,000.00 in Accumulated Reserve Funding Towards Expenses Covered by Amendment No. 3 and Approval of Budget Revision 2027-34 for Employee Benefits and Risk Funds
Recommended Action
I move that Council approve Amendment No. 3 to Agreement No. AGR24-67 with Blue Cross and Blue Shield of New Mexico, A Division of Health Care Service Corporation, in an amount not to exceed $5,100,000, for the initial term through December 31, 2027, for the purpose of providing medical insurance benefits to eligible Los Alamos County employees and their dependents, authorize the use of up to $300,000.00 in accumulated reserve funding towards expenses covered by Amendment No. 3, and approve Budget Revision 2027-34 and include Attachment C as part of minutes of this meeting.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as presented.
Body
On October 29. 2024, Council approved General Services Agreement AGR24-67 for Medical Insurance Benefits for Los Alamos County Employees, which also include their dependents. A rate guarantee was provided for years one through three (1/1/2025 - 12/31/2027) for the Claims Administration Services identified in the RFP. All renewal years (01/01/2028 - 12/31/2031) are subject to negotiation and approval by Council.
In addition to Claims Administration Services, Blue Cross Blue Shield of New Mexico (BCBS NM) provides medical stop loss insurance to protect the County from assuming all of the liability for losses that result from an unexpected number of claims, either from an individual (Specific Stop Loss) or the entire workforce (Aggregate Sto...
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