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Meeting Date:	04/22/2024
Amendment to Supplemental Group Life Insurance and AD & D -Age 70 Jan. 1st
Submitted for:	Samantha Sanchez	Submitted By:	Samantha Sanchez
Department:	Risk Management

Subject:

Discussion and possible action to authorize a request for a 2nd amendment to the Standard supplemental group life insurance ("Plan 2") so that a Webb County Employee, Spouse, and Dependent with group life insurance who reach the “Age Reductions” will be effective January 1 of each year rather than on their respective date to “Age Restrictions for Life and AD&D and Standalone AD&D will be effective January 1 of each year.” This amendment will become effective January 1, 2024, through December 31, 2025; and authorize the Webb County Judge to sign all relevant documents and any other matters incident thereto. [Account #6100-1090-001- 432057 (Cafeteria Administration)]

Issue: The current amendment does not include AD&D and Standalone AD&D life insurance available to the Webb County Employees is subject to an Age Reduction when the employee reaches a specific age, making the amount of coverage and premium vary throughout the year.

Solution: Authorize the consultant to seek an amendment from the Insurance Provider to include to set a date of Jan 1st of every year.

Result: Both the rate band and age reduction will take place on January 1st. Anyone aged 64-69 who turns 70 during the year would not be age-reduced until Jan 1st of the following year.

Background:

On December 11, 2023 the, Commissioners Court approved Standard Insurance, Co. to seek an amendment to the group life insurance (Plan 2).

Previous Court Action:

Fiscal Impact

Budget Account Number:	6100-1090-001
Funding Source:	432057
Balance:	N/A
Financial Impact:
No financial impact

Attachments
Amendment