HomeMy WebLinkAbout740578.tiff RESOLUTION �-.
RE: AMENDMENT TO AGREEMENT BETWEEN WELL COUNTY A NI-
PA CIFIC MUTUAL LIFE INSURANCE COMPANY.
WHEREAS, heretofore Weld County by resolution did enter into
a contract with Pacific Mutual Life Insurance Company for group insur-
ance covering Weld County employees under various group insurance
policies No. GL-GR-GM-8864, including amendments thereto, and
WHEREAS, now Pacific Mutual Life Insurance Company has sub-
mitted an additional amendment to the aforementioned group policies
No. GL-GR-GM-8864, and
WHEREAS, the Board of County Commissioners, Weld County,
Colorado, believes it to be in the best interest of the County to accept
the aforementioned amendment to group policies No. GL-GR-GM-8864
as proposed, covering its county employees, and to enter into such agree-
ment to amend said group policies No. GL-GR-GM-8864 on the bases
recited therein.
NOW, THEREFORE, BE IT RESOLVED, by the Board of County
Commissioners, Weld County, Colorado, that the amendment submitted
by Pacific Mutual Life Insurance Company amending the aforementioned
group policies No. GL-GR-GM-8864, copy of which is attached hereto and
made a part hereof by reference, be and it hereby is approved.
BE IT FURTHER RESOLVED, that the Board be, and it hereby is
authorized to execute the amendment to the aforementioned group policies
No. GL-GR-GM-8864 as submitted and to make the same effective forthwith.
The above and foreoing Resolution was, on motion duly made and
seconded, adopted by the following vote on the 20th day of November, A. D.,
1974.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: Z_ .✓�/ CL 1GG t rt'Cr///�2>
Weld County Clerk and �Recorder C--L.--
and Clerk to the Board /
BY ;�, , , ,-f ( ' / ti' !Q2 L
Deputy County Clerk
APPROD AS TOC'OR,M:
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1-
,� Coi(n�y A tit3orneY
740578
WELD COUNTY COLORADO
For Action To SAM TELEP Dote November 11 , 1974
M
For Info To Your Action Or Reply Is Required
.... Subject: On Or Before
Enclosed is the old rates of Pacific Mutual Life Insurance
Company together with the latest resolution and the letter
advising us of the new rates which will be effective January 1 ,
1975.
Please prepare the necesscary resolution.
AT OF c...
COUNTY OF WELD
with the Clerk of the
of Cou"N" Commissioners
N0V 12 1914
Barton Buss
COUNTY CLERK AND RECORDER
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PACIFIC MUTUAL
PACIFIC MUTUAL LIFE INSURANCE COMPANY
LLOYD E.RICHMOND DENVER GROUP AND PENSION OFFICE
GROUP SALES REPRESENTATIVE CHERRY CREEK CENTER
360 SOUTH MONROE,SUITE 500
November 4, 1974 DENVER.COLORADO 80209
TELEPHONE 321-3460
Weld County, Colorado
Court House
Greeley, Colorado 80631
Gentlemen:
Group Policies GL-GR-GM-8864
The renewal date of your Group Insurance Plan is January 1, 1975. Our
annual review has been completed and shown here is the incurred claims
experience from January 1, 1974 through September 30, 197f
Earned Paid Incurred Loss
Premium Claims Claims Ratio
Life (per $1,000) $ 9,818 $ 10,000 $ 8,772 '89.3%
Supplemental Life (per $1,000) 7,946 12,500 11,119 139.9%
ADS (per $1,000) 930 111 11.9%
Supplemental ADAD (per $1,000) 752 92 12.2%
Medical _1.266,019 129,103 142,978 113.5%
Total 4,11r,15.5. $151,603 $163,072 112.1%
As illustrated above, the Medical portion of your plan has incurred higher
claims than normally expected. It is therefore essential to the financial
soundness of your program that Medical premium rates be adjusted. All other
coverages will be continued at the currently in-force rates. Renewal medical
rates include an increase in the hospital Room and Board maximum to $59.00
per day. Increased Foundation standards will also be applicable
Effective January 1, 1975 the following rates will apply:
Medical
Class 1 - Employee T28.
Class 2 - Employee 7.92
Class 1 - Dependent 33.69
Class 2 - Dependent 8.05
It is our pleasure to be of service to you and we look forward to continuing
our cordial business relationship.
Sincerely,
411.)
Lloyd . ichmond
Group es Representative ✓- ls�� -S-Z-1'��
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