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Intergovernmental Agreement with the City of Albuquerque for Group Benefits Program
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The Water Authority Human Resources department is requesting approval to enter into an agreement with the City of Albuquerque (City) to maintain a group benefits program for eligible employees and their dependents, including medical, dental vision, life, and other group voluntary benefits. The services and benefits provided to employees through the group benefits program are provided by contracted providers. By entering into this agreement, the Water Authority can participate in the City’s Provider agreements to offer eligible Water Authority employees and their dependents the same benefits available to City employees.
The City recently converted to being self-insured. The administrative fees for FY20 is $19,370.00. Additionally, insurance premiums that previously were paid to Presbyterian, will now be paid to the City. The City of Albuquerque agreement may be extended annually by mutual agreement.
If approved by the Board, the agreement will be executed by the Water Authority to participate in the City of Albuquerque for Group Benefits Program. By entering into this agreement, the Water Authority will be able to provide group medical insurance to Water Authority employees and their dependents.
FISCAL IMPACT:
$4,500,000 which is budgeted in the FY20 Operating Budget.