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<br />2008 Employee Benefit Plan <br />Review and Recommendations <br />February 13,2008 <br /> <br />EXECUTIVE SUMMARY <br /> <br />The City of Sunny Isles Beach, Florida (the City) employee benefit plans renew on <br />March 1, 2008. Siver Insurance Consultants (Siver) was requested to review the medical <br />and dental renewal options presented. <br /> <br />Based upon our discussions with City staff, the City's goals for the 2008 renewal include: <br /> <br />· Control cost increases for the City; <br /> <br />· Provide the same benefits to employees, retirees and their families; <br /> <br />· Have minimal impact financially on employees, retirees and their families; and <br /> <br />· Have minimal impact on medical provider choice for employees, retirees and their <br />families. <br /> <br />Based upon our review of the renewal proposals and these goals, we recommend: <br /> <br />· Renew the current HMO and POS medical plans with United Healthcare with no <br />changes in plan design and also add a third lower cost option, Neighborhood <br />Health Plan, for employees and their families; and <br /> <br />· Change dental insurance providers to SunLife. <br /> <br />The medical plan increase is 11.2% which, in our opinion, is comparable to increases <br />being experienced by other similar employers in Florida. Towers Perrin and <br />PricewaterhouseCoopers LLP are reporting increases in health insurance premiums for <br />HMOs in late 2007 and early 2008 to be between 8 and 10%, While the City's increase <br />is slightly higher than these averages, the averages include data from many employers <br />who reduced benefits to control cost increases and the City's premiums do not reflect this <br />type of reduction. <br /> <br />The change in dental insurers generates a decrease in premiums for the dental coverage. <br /> <br />Page 2 <br />