Explanation
BACKGROUND: To maintain the insurance programs in accordance with the negotiated labor contracts, it is necessary to modify and extend the existing contract with Vision Service Plan and to provide additional funding for the continuation of the group vision insurance program. Cost estimates were based on 2002-2003 fund expenditures trended on the basis of a three-year average of actual City utilization in conjunction with industry trends, as well as actuarial services. The contract is for a three-year period renewable annually, subject to annual appropriation; this ordinance represents the final renewal option.
Contract Compliance: 31-0725743
FISCAL IMPACT: To modify and extend the existing contract with Vision Service Plan to establish the maximum obligation liability, and to authorize the expenditure of $1,062,401.00 for Vision Service Plan from February 1, 2004 through January 31, 2005. The administrative rate of $1.00 per eligible employee per month, renewable annually. Funding is available in the 2004 budget for this modification. This ordinance is an emergency measure to ensure continued insurance coverage as negotiated by union contracts.
Title
To authorize the Human Resources Director to modify and extend the contract with Vision Service Plan to provide all eligible employees vision insurance coverage from February 1, 2004 through January 31, 2005, and to authorize the expenditure of $1,062,401.00 from the Employee Benefits Insurance Fund or so much thereof as may be necessary to pay the cost of said contract; and to declare an emergency. ($1,062,401.00 )
Body
WHEREAS, it is in the best interest of the City of Columbus to modify and extend the contract to provide all eligible employees vision insurance from February 1, 2004 through January 31, 2005; and
WHEREAS, it is necessary to authorize the expenditure of $1,062,401.00, or so much thereof as may be necessary to pay contract costs for group vision i...
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