Sarasota County Schools
Agenda Item #45
Title
APPROVAL OF CALENDAR YEAR 2010 GROUP MEDICAL INSURANCE RENEWAL WITH BLUE CROSS BLUE SHIELD OF FLORIDA
Description
The Calendar year 2009 group medical insurance rates for Blue Cross Blue Shield of Florida will increase 7.5%. The rate increase is a result of our group claim experience and medical trend (inflation), which is 10.5%. Aon Consulting and the district's Risk Manager reviewed all the renewal underwriting assumptions and negotiated with Blue Cross Blue Shield of Florida to arrive at the 7.5% rate increase. The cost to the district for the 2010 calendar year is estimated to increase by $2,417,017 which is 7.5%.
Recommendation
That the School Board of Sarasota County approve the renewal of the four district sponsored medical insurance plans from Blue cross Blue Shield of Florida with the rate increase of 7.5% for calendar year 2010 as presented.
Contact
CORCORAN & PALMER
Financial Impact
Fiscal Year 2009-2010: 3.75% cost increase estimated at $1,208,508.
Attachment: BCBSFL Renew 2010_memo.pdf