CC MEETING: September 24, 2024
DATE: September 9, 2024
TO: Erin Rinehart, City Manager
FROM: Samantha Dean, Director of Workforce Services
Chrystal Davis, Assistant City Manager
Title
Consider A Resolution Authorizing The City Manager To Enter Into Agreement With WEX Health, Inc. For Flexible Spending Account (FSA) And Health Reimbursement Account (HRA) Administration In An Annual Amount Of $41,237 And A Five-Year Total Contract Amount Not To Exceed $206,184.00.
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BACKGROUND:
The City issued RFP #24-061 for Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) Administrative services. Vendors were notified via the City's electronic bidding system and the City received proposals from nine (9) vendors. After review and analysis of the submissions, the City's benefits consultant HUB International and City staff recommends awarding to WEX Health, Inc. as the providers for FSA and HRA Administrative Services.
FSA and HRA services were included in the Citywide Health Benefits RFP issued in early 2024. However, the City received very few responses for these specific services and the services were put back out to bid to increase engagement.
The attached resolution authorizes the City Manager to enter into an agreement with WEX Health, Inc. for the aforementioned services.
FINANCIAL IMPLICATIONS:
WEX Health, Inc. issued a quote that will cost the City $206,184 over a 5-year contract period which includes a 10% contingency.
Funds for these employee benefits will be paid out of the Employee Health Fund, which is funded by employer and employee contributions.
Participation in the agreements for WEX Health, Inc. guarantees rates for five (5) years and includes one (1), two-year renewal option. Both agreements begin January 1, 2025.
IMPACT ON COMMUNITY SUSTAINABILITY:
This supports and aligns with City Council's goals and objectives of attracting and retaining a diverse, motivated and qualified team.
STAFF RECOMMENDATION/ACTION DE...
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