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A Resolution Approving a Service Agreement with Lodestar Claims & Risk Services, Inc. to Provide Third Party Administrator (TPA) Services for the Village's Workers Compensation Program for a Five-Year Period and Authorizing Its Execution
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Introduction
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This is an agreement for the administration of the Village's worker's compensation program, which is funded through the Village's Self-Insured Retention Fund. Lodestar was the sole respondent to a Request for Proposals the Village issued on May 22, 2026.
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Recommended Action
Adopt the Resolution.
Prior Board Action
The Board has taken the following prior action(s):
* On July 31, 2023, the Board approved RES 23-231, a Service Agreement with PMA Management Corp. to provide TPA services for the Village's Workers Compensation Program for a Three Year Period.
* On July 20, 2020, the Board approved RES 20-179, a renewal of a Service Agreement with PMA Management Corp. to provide TPA services for the Village's Workers Compensation Program for a Three Year Period.
* On June 19, 2017, the Board approved RES 17-575, a Service Agreement with PMA Management Corp. to provide TPA services for the Village's Workers Compensation Program for a Three Year Period.
Background
The Village utilizes a Third Party Administrator (TPA) to administer the Village's self-funded workers' compensation program. This includes investigating and administering workers compensation claims, determining compensability and coordinating claim resolution, managing medical treatment and assisting with return-to-work efforts, assigning and coordinating with nurse case managers, medical providers and defense counsel, processing payments, ensuring compliance with applicable workers' compensation laws and reporting requirements, negotiating settlements and facilitating claim closure, providing claim analytics, financial reporting and reserve recommendations, and advising on claim trends and opportunitie...
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