The linkage to the Strategic Plan is subsection: 6.2 Implement employee benefits and services that promote financial security Award Summary: The award of Solicitation No. 2024-0233R Health Insurance & Benefits Administrators for COBRA coverage to Aetna Dental Inc. - Aetna Life Insurance Company for an initial term of three (3) years for an estimated amount of $65,502.00. The award also includes a two (2), two (2) year option for an estimated amount of $87,336.00. The total amount of the contract, including the initial term plus the option for a total of seven (7) years, is for an estimated amount of $152,838.00. Contract Variance: Not applicable Department: Human Resources Award to: Aetna Dental Inc. - Aetna Life Insurance Company City & State: Hartford, CT Item(s): COBRA Initial Term: 3 Years Option Term: 2 - 2 Years Total Contract Time: 7 Years Annual Estimated Award: $ 21,834.00 Initial Term Estimated Award: $ 65,502.00 Option Term Estimated Award: $ 87,336.00 Total Estimated Award: $152,838.00 Account(s) 522000 - 209 - 3500 - 14045 - P1414 Funding Source(s): Self-Insured Health Insurance District(s): All This was a Request for Proposals Procurement, service contract. The Purchasing & Strategic Sourcing Department and Human Resources recommend award as indicated to Aetna Dental Inc. - Aetna Life Insurance Company the highest ranked offerors based on the evaluation factors established in the evaluation criteria for this procurement. It is requested that the City Manager be authorized to establish the funding sources and make any necessary budget transfers and execute any and all documents necessary for execution of this award. In accordance with this award, the City Manager or designee is authorized to exercise future options if needed.

Request for Proposals Agenda Ready Introduced June 18, 2024

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