From
Bryce Davis, Purchasing Manager
Title
Contract with Holmes Murphy and Associates of Texas, Inc. for Benefits Consultation Services in the areas of health insurance, actuarial evaluations, claims assessments, data warehousing, and claims repricing, in the annual amount not to exceed $52,000 (approximately $260,000.00 for five years) with the option to renew annually unless terminated by either party, and authorize the City Manager to execute up to five 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 (renewal options beyond the five specified can be authorized, however, will require additional City Council approval)
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Approve
Analysis
Human Resources has had an existing contract with Holmes Murphy Benefits Consultants since October 2007, with the most current renewal period ending September 30, 2018. Holmes Murphy has been an excellent partner to the City and works routinely with Human Resources staff and our City Manager's Office on all benefits related matters. We continue to have a positive relationship with them and they provide consulting services to us in all areas of benefits, including but not limited to: general benefits guidance, compliance with all benefit laws, annual enrollment, Medicare reporting, health care reform assessments and fee compliance, budget forecasting, Incurred But Not Reported (IBNR) claims calculations, claims repricing, GASB45 actuarial assessments (government required assessments of retiree liability), request for proposal services from preparation through analysis, strategic benefits plan design and wellness programming review and assessments, as well as many other services.
This was not presented to the Finance and Government Committee as it is currently budgeted and approved annually in the Employee Insurance fund budget.
Financial Consideration
Funding for our benefits contract with Holmes Murphy and Associates of Texas, Inc. is available in the FY 2018/2019 Employee Insurance Fund (213010) - 61485 (Miscellaneous Services). No additional funding is needed.