Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: RES 19-276    Name:
Type: Resolution Status: Passed
In control: President and Board of Trustees
On agenda: 9/3/2019 Final action: 9/3/2019
Title: A Resolution Approving a Renewal of a Professional Services Agreement between the Village of Oak Park and VistaNational Insurance Group, Inc. through December 31, 2020 in an Annual Amount Not to Exceed $39,000 for Broker Services for Village Employee Benefits and Authorizing its Execution
Attachments: 1. Resolution, 2. Agreement
Submitted By
Kira Tchang, Assistant Village Manger/HR Director

Reviewed By
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Agenda Item Title
Title
A Resolution Approving a Renewal of a Professional Services Agreement between the Village of Oak Park and VistaNational Insurance Group, Inc. through December 31, 2020 in an Annual Amount Not to Exceed $39,000 for Broker Services for Village Employee Benefits and Authorizing its Execution

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Overview
Overview
VistaNational Insurance Group, Inc., has been selected to provide insurance brokerage services for a 15-month term commencing on approval of the attached agreement to December 31, 2020, with a right to renew for one (1) additional year to December 31, 2021.

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Recommendation
Recommendation
Approve the Resolution.

Fiscal Impact
Consistent with the current adopted budget, the FY20 Health Insurance Fund budget will need to include funding for broker fees in the amount not to exceed $39,000.

Background
The Village's Employee Health Insurance Fund (Fund 6028) serves as the funding source for the payment of claims for medical services and prescription drugs provided for Village employees as well as eligible retirees who participate in the Village plans. Other insurance and benefits provided within Fund 6028 include vision, dental and life insurance, administration of flexible spending accounts, and the opt-out program for Village employee's who elect to be covered under their spouse's health insurance. The fund also includes the payments made by employee and retiree payments for the coverages elected.

Upon approval of the agreement with VistaNational Insurance Group, Inc. to act as the Village's broker, the firm will be instructed to survey various insurance markets to identify preferred providers for 2019 based on the quality of service. VistaNational Insurance Group, Inc. negotiates rates and discounts with these providers on behalf of the Village to reduce premiums, and fees or charges on claims for insurance and ser...

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