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Approval of 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 continue the 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 continuing 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.
Last year, the City converted to being self-insured. Administrative fees to be paid to the City are estimated to be $20,000 per year. Additionally, insurance premiums that previously were paid to Presbyterian, are now paid to the City.
If approved by the Board, the agreement will be extended by the Water Authority to continue to participate in the City of Albuquerque Group Benefits Program. By continuing this agreement, the Water Authority will be able to continue to provide group medical insurance to Water Authority employees and their dependents. Approval of this item shall also serve as delegation of authority for the Executive Director to approve all future amendments to this agreement, if any.
FISCAL IMPACT:
An additional $2,400,000 including NM GRT for the remainder of FY20 budgeted in the FY20 Operating Budget.