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Home My WebLink About#5232 approving an insurance renewal with Guardian Insurance RESOLUTION NO. 5232 A RESOLUTION APPROVING AN INSURANCE RENEWAL BETWEEN THE CITY OF CANTON AND GUARDIAN FOR THE POLICY TERM PERIOD MAY 1, 2020 TO APRIL 30,2021 WHEREAS, the City of Canton, Illinois (the "City") provides life insurance, voluntary vision, dental and accident insurance to not only its various Union employees, but also its non- Union employees and elected officials; WHEREAS, the City and the Insurance Committee investigated and determined what options would be available for life insurance, voluntary vision, dental and accident insurance purposes to continue said coverage for City employees; WHEREAS, the City, upon discussion and recommendation of the Insurance Committee, has determined that it is necessary and in the best interest to renew the life insurance, voluntary vision, dental and accident insurance policies and coverage through Guardian for the policy term period May 1, 2020 through April 30, 2021. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS AS FOLLOWS: 1. The renewal attached hereto and incorporated herein as "Exhibit A" is hereby APPROVED. 2. The Mayor and the City Clerk are hereby authorized and directed to execute and deliver said renewal documents on behalf of the City. 3. This Resolution shall be in full force and effective immediately upon its passage by the City Council of the City of Canton and approval by the Mayor thereof. PASSED AND APPROVED THIS 7th day of April, 2020. AYES: Aldermen Ryan Mayhew, Quin Mayhew, John Lovell, Craig West, Angela Hale, Jeff Fritz, Angela Lingenfelter, Justin Nelson NAYS: None ABSENT: None APPROVED: 'II! elk ent McDo = , Mayor ATTEST: � Diana Pavley-Rock, City Clerk EXHIBIT A It's renewal time! wr `$ Guardian is here to help. 41,..„...,„„„ . ,,, _., .„....... ..„,,,,,,, .. ..RENEWAL INFORMATION FOR CITY OF CANTON GROUP PLAN # 00539043 RENEWAL PERIOD May 1, 2020 - April 30, 2021 S Guardian. guardiananytime.com The Guardian Life Insurance Company of America, New York, NY. What you'll find in this package RENEWAL INFORMATION PAGE Renewal Premiums At-a-Glance 1 Renewal Rates At-a-Glance 3 8 Guardians guardiananytime.com The Guardian life Insurance Company of America,New York.NY. CITY OF CANTON GROUP PLAN#00539043 Renewal Premiums At-a-Glance EMPLOYER-SPONSORED COVERAGE Coverage Current Annual Renewal Annual Dental $71,614 $73,762 Basic Life $15,195 $15,195 AD&D $1,422 $1,422 TOTAL $88,231 $90,379 KEY POINTS OF INFORMATION REGARDING PLAN PRICING • Premiums shown above reflect a multi-line discount. If you do not wish to renew all lines of coverage, please contact us for revised pricing. • Product-specific rates shown in this package have been determined based on a number of factors, including employee age and gender, group location, changes in group size and claims experience (when applicable) EMPLOYEE-PAID VOLUNTARY COVERAGE Coverage Current Annual Renewal Annual Voluntary Vision $19,831 $19,831 Voluntary Life $5,284 $5,284 Guardian Life Insurance Company of America Guardian® COLLEGE TUITION BENEFIT. College Tuition Benefit Rewards Statement as of 11/15/2019 Plan Number:00539043 Plan Name:CITY OF CANTON Current Lines of Coverage with CTB:Dental Total Estimated Potential Accumulated Rewards Eor All Lines of Coverage:$1,048,500 Dear Planholder, Thank you for being a valued Guardian customer,This statement provides a snapshot of the total College Tuition Benefit points earned by your members as a result of being enrolled in one or more of the coverages listed above. To make sure points are credited to members, they can visit guardian.collegetuitionbenefit.com and register using the following information: User ID:Plan number,Password:Guardian College Tuition Benefit is a great way to help your employees save money on college education. One Tuition Reward =$1 in tuition reduction and can be used at over 400 private college and universities nationwide,The example below demonstrates how Tuition Rewards build up each year. A college tuition benefit that increases each year 58,500 50,500 Example ut how future re urtion can 42.500 be reduced by$58.500 when the 34,500 plan participant/pant has four Guardian 24,000 products(e.g.Dental— dthayear 16.000 _ 4 bonus of 2.500 rewards.Lite, rZ=++Si Hospital Indemnity and Critical '•.•••••... Illness)over a seven-year period. Year 2 Year 3 Year 4 Year 5 Year c Year 7 Important deadlines for members: • Students must be added to the program by August 24 the year he/she starts grade 11 • The last day members can transfer earned rewards to a student is August 24 of the year he/she starts grade 12 If you have any questions,contact your Guardian Group Sales Representative or send your questions via email to supporta collegetuitionbenefit.corn.For general information about the College Tuition Benefit program go to guardian.collegetuitionbenefit.com. Sincerely, The Guardian Life Insurance Company of America College Tuition Benefit is a tuition reduction program.This program is currently part of your employee benefit package and addresses a top employee concern--saving for college.The service is$0.45 per employee per month for each coverage accumulating the College Tuition Benefit.(Le.except for Guardian Davis Vision plan Rewards,which are offered by Davis Vision)This is not a separate line item charge for you,but instead reflected in the total premium billed(thougn not an insurance charge).The Tuition Rewards program is provided by SAGE CTB,LLC.Guardian does not provide any services related to this program.SAGE CTB,LLC is nota subsidiary or an affiliate of Guardian.Guardian reserves the right to discontinue the College Tuition Benefit program at any time without notice.The College Tuition Benefit is not an insurance benefit and may not be available in all states. 2018-70400(Exp.11/20) 2 CITY OF CANTON GROUP PLAN#00539043 Renewal Rates At-a-Glance This plan is currently offered for Insurance Class 1, 2, 3 and 4 DENTAL PLAN RATES - PPO VZ CURRENT RENEWAL Enrolled Monthly Annual Monthly Annual Tier Employees Rate Premium Rate Premium EE 46 $20.78 $11,471 $21.40 $11,813 EE & SP 28 $42.19 $14,176 $43.46 $14,603 EE & CH 19 $55.16 $12,576 $56.81 $12,953 FAMILY 34 $81.84 $33,391 $84.30 $34,394 TOTAL 127 $71,614 $73,762 This plan is currently offered for Insurance Class 1, 2, 3 and 4 VOLUNTARY VISION PLAN RATES - CURRENT RENEWAL Enrolled Monthly Annual Monthly Annual Tier Employees Rate Premium Rate Premium EE 37 $10.94 $4,857 $10.94 $4,857 EE & SP 21 $18.42 $4,642 $18.42 $4,642 EE & CH 11 $18.79 $2,480 $18.79 $2,480 FAMILY 22 $29.74 $7,851 $29.74 $7,851 TOTAL 91 $19,831 $19,831 Guardian Life Insurance Company of America 3 CITY OF CANTON GROUP PLAN#00539043 Renewal Rates At-a-Glance This plan is currently offered for Insurance Class 1, 2, 3 and 4 BASIC LIFE PLAN RATES CURRENT RENEWAL Monthly Annual Monthly Annual Coverage Volume Rate Premium Rate Premium BASIC LIFE $3,736,000 $0.260/$1000 $11,656 $0.260/$1000 $11,656 This plan is currently offered for Insurance Class 1 and 2 AD&D PLAN RATES CURRENT RENEWAL Monthly Annual Monthly Annual Coverage Volume Rate Premium Rate Premium AD&D $3,386,000 $0.035/$1000 $1,422 $0.035/$1000 $1,422 This plan is currently offered for Insurance Class 1 and 2 DEPENDENT LIFE PLAN RATES CURRENT RENEWAL Monthly Annual Monthly Annual Coverage Dependents Rate Premium Rate Premium LDIFEENDENT 76 $3.880/Dep $3,539 $3.880/Dep $3,539 This plan is currently offered for Insurance Class 1 and 2 VOLUNTARY LIFE PLAN RATES EMPLOYEES CURRENT RENEWAL Employee Age Monthly Monthly Rate Rate 15-29 $0.097/$1000 $0.097/$1000 30-34 $0.116 $0.116 35-39 $0.149 $0.149 40-44 $0.209 $0.209 45-49 $0.338 $0.338 50-54 $0.568 $0.568 55-59 $0.852 $0.852 60-64 $1.296 $1.296 65-69 $2.472 $2.472 70-74 $5.202 $5.202 75-79 $5.202 $5.202 L80-84 $5.202 $5.202 4 Guardian Life Insurance Company of America CITY OF CANTON GROUP PLAN#00539043 Renewal Rates At-a-Glance This plan is currently offered for Insurance Class 1 and 2 VOLUNTARY LIFE PLAN RATES (Continued) EMPLOYEES CURRENT RENEWAL 85-89 $5.202 $5.202 90-94 $5.202 $5.202 95-99 $5.202 $5.202 This plan is currently offered for Insurance Class 1 and 2 VOLUNTARY LIFE PLAN RATES SPOUSE CURRENT RENEWAL Employee Age Monthly Monthly Rate Rate 15-29 $0.097/$1000 $0.097/$1000 30-34 $0.116 $0.116 35-39 $0.149 $0.149 40-44 $0.209 $0.209 45-49 $0.338 $0.338 50-54 $0.568 $0.568 55-59 $0.852 $0.852 60-64 $1.296 $1.296 165-69 $2.472 $2.472 70-74 $5.202 $5.202 75-79 $5.202 $5.202 80-84 $5.202 $5.202 85-89 $5.202 $5.202 90-94 $5.202 $5.202 95-99 $5.202 $5.202 This plan is currently offered for Insurance Class 1 and 2 VOLUNTARY LIFE PLAN RATES CHILD(REN) CURRENT RENEWAL Monthly Monthly Rate Rate CHILD(REN) $0.146/$1000 $0.146/$1000 5 Guardian Life Insurance Company of America