08/27/2000 Meeting Minutes - Laserfiche WebLink

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Special Council Meeting 8-27-01 Page 4 Mr. Ilacqua, seconded by Mr. Busa; made a motion to authorize Jim Hopkins of Corporate Plans, Inc. to be the Agent of Record for Health and Term Life Insurance for employees of Mayfield Village effective as of this date. Council President Marquardt asked if there was any discussion. Mrs. Cinco said Larry Barrett is in the audience and I think he wants to address Council on this issue. As I said at the last insurance meeting, I have lots of questions and I don't know if this is correcting the problem with our contract with our union. Council President Marquardt asked Larry Barrett if he wished to speak. Mr. Barrett said thanks for the opportunity to visit and for the years we have been together. I wanted to address a couple of things with respect to going forward with changing the Agent of Record letter on the plan. It really doesn't make a difference today who the agent on a plan is. In looking at the minutes from the meeting you had with Jim Hopkins, basically there are some numbers there--some are bad and some are good as far as going forward. I think the crux of the matter goes back to the process in which you folks should address this in setting up an agenda. The agenda, as far as my vantage point, would be: 1. Set that Committee up that has been called for in that contract with members of Police, Fire, Administration and view what is going forward 2. Design the benefits that you feel are comfortable in going forward. If we are looking at the same type of program that you have today with the same type of benefits but getting out of the traditional first dollar plan as was mentioned here and I mentioned it, it is a dinosaur--it's not being written but there are alternatives to restructure that plan. 3. Quote plans 4. Submit that quote to the different agents that would be doing that. Then, at that point in time recognize who you want to name as Agent of Record. To date all the data that is available to quote the plan is in Mr. Hopkin's hands. Because it is under 50, they do not have to publish any type of claims history going forward. They have a census; he has all the data and rate history of the things that I had provided Council through previous conversations and previous documents. So, all the rate history is there--where the rates came in at, what I negotiated them down to. Because there are between 25 and 491ives in the case, you can negotiate sometimes with respect to that. The only thing that going forward he has is all the opportunities (I know Phil has given him census with all the critical mass data) so all the numbers are there, whether it be for Jim Hopkins or myself or any other agent--the numbers are there to do the math. By taking over an Agent of Record letter, I feel that all things being equal, because of the amount of time that I have spent with the Village, see that through the end of the year and if in fact you aren't going to be moving off of Anthem, did the work, by changing the Agent of Record he can access the things he already has but also providing a stream of income from this point forward or the date forward on things that he did not work on as far as changing the revenue stream that comes in