Award Blue Cross Blue Shield the contract for Third Party Claims Administration and Pharmacy Benefits Management beginning January 1, 2020 with an estimated return to the city of $258,668 for administrative fees, including Pharmacy Rebates for the first three years; approximately $707,600 over five years; this agreement will be for an initial term of three years, with two annual renewal options, with guaranteed renewal rates through December 31, 2025, and the option for additional renewal options with non-guaranteed rates beginning 2026; authorize the City Manager to execute up to two annual renewal options for this agreement with aggregate price fluctuations of the lesser of up to $50,000 or 25% of the original contract value so long as sufficient funding is appropriated by the City Council to satisfy the City's obligation during the renewal terms (additional renewal options beyond the first two may be authorized but will require future City Council approval)

Agenda Item Consent Agenda Introduced May 29, 2019

What this record is

Amount: $708K
Runs until: December 31, 2025 already ended date quoted from the award document
Type: award
Field: Health & social

Read automatically from the title of the official record. The source document below is authoritative.