This is for the renewal and contract modification no. 1 for Medical and Pharmacy Stop Loss Carrier with Assurance of Tennessee, Inc. in the amount of $870,000. This contract is used by the City of Savannah to provide catastrophic claims reinsurance coverage for the City’s self-funded medical and pharmacy plan. The premium coverage is calculated based on the member enrollment in the City’s self-funded medical and pharmacy plans. Member enrollment is estimated to be 1,100 members with single coverage and 1,000 members with family coverage. The contract reflects an increase of approximately 10% from the previous year (monthly rates will be $21.94 for single coverage and $50.33 for family coverage).

The City’s current benefits consultant, USI Insurance Services, conducted a market assessment of multiple vendors and determined this is the most competitive and cost-effective plan. This contract was originally approved by Council on December 23, 2021 in the amount of $841,141. 

Approval