Subject:
Title
Group Health Insurance Stop Loss (Excess Insurance) placement CY2026
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Fiscal Impact:
The estimated maximum fiscal impact is the premium + aggregating deductible exposure, and, for this renewal period, is projected to be $729,410 for 2026. This is a potential overall 9.3% increase from the prior year. The specific deductible will remain the same ($1,050,000 per individual) with potential for additional claims cost towards the aggregating deductible which will remain the same ($312,000) and only applies if claims exceed the $1,050,000 specific deductible.
Dept/Office:
Human Resources
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve the renewal of Stop Loss Insurance with Symetra Financial for the self-insured group health insurance program and authorize the Human Resources Director to execute all documents, upon County Attorney's Office approval, necessary to bind this coverage effective 1/1/2026.
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Summary Explanation and Background:
Stop Loss coverage for a self-funded health plan provides a limit of financial exposure for the benefit plan when any individual member incurs a catastrophic claim. After successfully self-funding this exposure for several years, change in federal law through the Affordable Care Act (ACA) changed the financial landscape for employer's coverage on catastrophic claims effective January 1, 2014, therefore the County began purchasing Stop Loss coverage with a high deductible through Symetra Financial. Stop Loss contracts are renewed each year.
The County's Benefits Consultant marketed 2026 renewal options for the County's Stop-Loss Insurance coverage and received a total of 13 responses. The marketing summary is attached. Of the 13 carriers that responded, 10 declined to quote as their pricing was not competitive. After reviewing the available options, the County's Benefit Consultant and the office of Human Resources recommend renewing with Symetra for 2026. Sy...
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