HomeMy WebLinkAboutResolution No. R22-23RESOLUTION NO. R22-23
A RESOLUTION OF THE CITY COUNCIL AUTHORIZING THE MAYOR TO
EXECUTE ALL AGREEMENTS NECESSARY TO SECURE INSURANCE
BENEFITS WITH UNUM FOR CITY OF LAUREL EMPLOYEES
WHEREAS, the City of Laurel was presented with a Proposal Executive Summary from
UNUM for various benefits for City employees, including short-term disability insurance, long-
term disability insurance, and voluntary life insurance; and
WHEREAS, the City of Laurel believes that offering these benefits to City employees
would be an additional incentive in hiring, recruitment, and retention of City employees; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Laurel,
Montana, as follows:
Section 1: Approval. The general terms of the UNUM Proposal Executive Summary,
attached hereto and incorporated by reference herein, are recommended by the Mayor and
accepted by the City Council, as benefits to be provided to City employees.
Section 2: Execution. The Mayor is hereby given authority to execute any necessary
agreements to formalize the Proposal Executive Summary for short-term disability insurance,
long-term disability insurance, and voluntary life insurance for City employees.
Introduced at a regular meeting of the City Council on the 10`h day of May, 2022, by
Council Member Mize.
PASSED and APPROVED by the City Council of the City of Laurel the I Oth day of
May, 2022.
APPROVED by the Mayor the 10`h day of May, 2022.
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Dave Waggoner, Mayor
R22-23 Approve the Proposal Executive Summary for Disability and Life Insurance for City Employees and
Authorize the Mayor to Execute all Necessary Agreements Related to Such
ATTEST: "
Kelly Strecker, Clerk -Treasurer
APPROVED AS TO FORM:
Michele L. Braukmann, Civil City Attorney
R22-23 Approve the Proposal Executive Summary for Disability and Life Insurance for City Employees and
Authorize the Mayor to Execute all Necessary Agreements Related to Such
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Better benefits at work.
Short Term Disability 717 Option
• Benefit: All enrolled employees covered 60% to a
max of $1,000 per week
• Elimination Period Options:
0 7 days injury, 7 days illness
• Benefit Duration:
0 12 weeks
• No Offsets for PTO/Sick Leave!
• Definition of Disability: Residual (minimum
earnings loss of 20%)
• 8 week C -Section Benefit
• Voluntary Rehab & Return to Work Program:
Pays a 10% benefit if the employee chooses to
participate
• Pre-existing Condition Exclusion: None
• Rate:
Bundled with LTD: $0.35 = $1,201.13
per month
Bundled with LTD and Voluntary
Life/AD&D: $0.34 = $1,166.81 per
month
Bundled with Life/AD&D, LTD, Critical
Illness and Accident: $0.33 = $1,132.49
per month
Rate Guarantee: 2 years
Short Term Disability 14/14 Option
• Benefit: All _phrolled`-employees covered 60% to a
max cif '$1,000 per week.
• Elimination Period Options:
0 14 days injury, 14 days illness
• Benefit Duration:
0 11 weeks
• No Offsets for PTO/Sick Leave!
• Definition of Disability: Residual (minimum
earnings loss of 20%)
8 week C -Section Benefit
Voluntary Rehab & Return to Work Program:
Pays a 10% benefit if the employee chooses to
participate
Pre-existing Condition Exclusion: None
• Rate:
o Bundled with LTD: $0.30 = $1,029.54
per month
o Bundled. with Life/AD&D: $0.28 =
$960.90 per month
o Bundled with Life/AD&D, LTD; Critical
Illness and Accident: $0.27 = $926.58
per month
Rate Guarantee: 2 years
Lona Term Disabilitv
• Benefit. Alhenrolled empioyees covered 60% to a
max of $4,000 per month
• Elimination Period: 90 days with 30 accumulation
days, no earnings loss required
• Benefit Duration:
o SS ADEA (Social Security Normal Retirement
Age)
• Work Incentive Benefit: 12 months
• Own Occupation Period: 2 years
• Rehab & Return to Work: Voluntary with a 10%
benefit
• Pre-existing Condition Exclusion: 3/12
e Rate:
o Bundled with STD: $0.53 = $1,313.72 per
month
o Bundled with STD and Voluntary
Life/AD&D: $0.51 = $1,264.15 per month
o Bundled with Life/AD&D, STD, Critical
Illness and Accident: $0.50 = $1,239.36
per month
Rate Guarantee: 2 years
Voluntary Life and AD&D
Employee Benefit: $10,000 increments up to the
lesser of 5x annual earnings or $500,000
• Spouse Benefit: $5,000 increments up to 100% of
what the employee elects - no caps!
• Child Benefit: $2,000 increments up to $10,000
• Guarantee Issue
o Employee: $100,000
o Spouse: $25,000
o Child: $10,000
Lock In Fea$ure: If an employee erects at least the
minimum benefit at initial enrollment ($10,000);
they can increase their'coverage up to the guarantee
Issue amount ($100,000) at any future enrollment,
with no medical questions!
• Age Reduction: 65% at age 70, 50% at 75
• Portability and Conversion: Included
• Rates: Age banded - see full proposal
• Participation Required: 10 employees enrolled
• Rate Guarantee: 3 years
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Group Life and AD&D Additional Services Included
• Benefit: $10,000
• Age Reductions: 65% at age 70, 50% at age 75
• Portability and Conversion: Included .
• Accelerated Benefit: May access 100% of the
benefit If diagnosed terminally III
• Rate:
o $0.39/$0.03 = $135.15 per month
• Rate Guarantee: 3 years if bundled with Voluntary
Life/AD&D
Accident: Voluntary
• Covers employees for accidents on and off the iob
• Pays lump sum benefit according to schedule of
benefits found in proposal
• Great for families; all types of youth and scholastic
sports are fully covered
o One rate covers all children
• $50 Be Well Benefit
• Rates:
o Employee Only: $16.67
o Employee/Spouse: $29.32
o Employee/Child(ren): $33.53
o Family: $46.18
Participation Required: 5 employees enrolled
Rate Guarantee: 3 years
Portability Included
Critical Illness
o Critical Illnesses can happen to anyone, regardless of
age
o Benefits can be used for anything you choose like
medical bills, transportation of family members, or a
bucket list vacation.
o Covered Critical Illnesses:
o Cancer, Heart Attack, Stroke, and many
more (see proposal for full list of covered
conditions)
o Child coverage is automatically included at 50% of
the amount the employee elects
o Children are covered for all adult conditions,
as well as covered childhood conditions like
Cerebral Palsy, Cleft Lip or Palate, Cystic
Fibrosis, Down Syndrome, and Spina Bifida.
o Benefit Amounts:
o Employee: $15,000(All Guaranteed Issue)
o Spouse: 50% of Employee Amount
o Child: 50% of Employee Amount
o $50 Be Well Benefit
o Rates: Age banded — see full proposal
o Portability Included
Employee Assistance Plan with HealthAdvocate
Covers 3 face to face counseling visits per issue an
employee is facing
• Unlimited telephonic counseling
• Free will preparation
• Medical Bill Saver
o This service will negotiate on behalf of the
employee to reduce any medical or dental
bill they have over $4001
Worldwide Emergency Travel Assistance Plan
• Covers employees and their families if they are
traveling over 100 miles away from home
• Guaranteed hospital admission
• No countries excluded
Life Planning Financial &Legal Resources
• This personalized financial counseling service
provides expert, objective financial counseling to
survivors and terminally ill employees at no cost