67-K2 - city of burleson renewal 2024.pdf
PDF 161 KB Posted
- Attached to
- Ancillary Insurance Benefits
- Solicitation number
- RFP 2026-018
- Issued by
- Johnson County, Texas
About this file
This is a Premium Rate Notice from Symetra Life Insurance Company regarding the renewal of group insurance coverages for the City of Burleson, Texas, effective January 1, 2024. The document details renewal rates and fees for multiple insurance products including Basic Employee Life Insurance, Basic Dependent Life Insurance (Classes 1 and 2), Basic Employee Accidental Death & Dismemberment (AD&D), Supplemental Employee Life Insurance, Supplemental Spouse Life Insurance, Supplemental Child Life Insurance, Supplemental Employee and Spouse AD&D, Long Term Disability, and Short Term Disability. The renewal covers 386 employees with a total basic employee life volume of $58,219,000 for the standard renewal option and $87,893,500 for the plan change option. The notice was issued on April 24, 2023, with the renewal effective January 1, 2024. Rates and fees are guaranteed through January 1, 2026, unless there are changes in benefits, eligibility, or associated companies.
The renewal includes notable rate increases for certain basic employee life products, with increases ranging from 0% to 30% depending on the coverage type and plan option selected. Basic Employee Life Renewal rates increased 10% from $0.082 to $0.090 per $1,000, while the plan change option with Occupational Death Benefit for First Responders increased 30% to $0.107 per $1,000. Dependent life, AD&D, and disability rates remained unchanged. Monthly premiums for Basic Employee Life Renewal increased from $4,773.96 to $5,239.71 (10% increase), while the plan change with occupational death benefit increased from $7,207.27 to $9,404.60 (30% increase). Supplemental life and disability products maintained their current rates. Symetra's account manager, Shemar Henry, indicated that the system would automatically update to reflect the rate action 31 days prior to the renewal date if the City of Burleson did not communicate acceptance, termination, or a rate review request.
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Text version
Symetra Life Insurance Company Mailing Address: P.O. Box 34690 Seattle, WA 98124-1690
Heather Huse City of Burleson 141 West Renfro Street Burleson, TX 76028
Re: Policy
Dear Policyholder:
Lives Volume Current Rate/Fee Renewal Rate/Fee Basic Employee Life Renewal 386 $58,219,000.00 $0.082 $0.090
Basic Employee Life Inforce + ODB for First Responders 386 $58,219,000.00 $0.082 $0.094
Basic Employee Life Plan Change 386 $87,893,500.00 $0.082 $0.103
Basic Employee Life Plan Change + Occupational Death Benefit for First
Responders 386 $87,893,500.00 $0.082 $0.107 Basic Dependent Class 1 29 N/A $2.000 $2.000 Basic Dependent Class 2 176 N/A $4.000 $4.000
Basic Dependent Plan Change 205 N/A $3.000 $3.000 Basic Employee AD&D 386 $58,219,000.00 $0.030 $0.030
Supplemental Employee Life 170 $19,022,500.00 Step-rates* Step-rates* Supplemental Spouse Life 74 $3,638,000.00 Step-rates* Step-rates* Supplemental Child Life 91 N/a $2.000 $2.000
Supplemental Employee AD&D 170 $19,022,500.00 $0.030 $0.030 Supplemental Spouse AD&D 74 $3,650,000.00 $0.030 $0.030 Supplemental Child AD&D 91 $1,215,000.00 $0.040 $0.040
Long Term Disability 386 $2,476,441.84 $0.210 $0.210 Short Term Disability 386 $332,650.18 $0.210 $0.210
Effective January 1, 2024 your renewal rates/fees are as follows:
This letter contains the results of our annual review of your group insurance coverages. We have evaluated your rates using current census data and your plan's experience.
Phone: (800) 426-7784 Fax: (866) 348-0058
TT/TTY (800) 833-6388 (Deaf/HH only)
01-017859-00 January 1, 2024
Symetra® is a registered service mark of Symetra Life Insurance Company.
Current Monthly Premium/Fees
Renewal Monthly Premium/Fees Percent Change
Basic Employee Life Renewal $4,773.96 $5,239.71 10% Basic Employee Life Inforce + ODB for First Responders $4,773.96 $5,472.59 15% Basic Employee Life Plan Change
$7,207.27 $9,009.08 25% Basic Employee Life Plan Change +
Occupational Death Benefit for First Responders $7,207.27 $9,404.60 30%
Basic Dependent Class 1 $58.00 $58.00 0% Basic Dependent Class 2 $704.00 $704.00 0%
Basic Dependent Plan Change $615.00 $615.00 0% Basic Employee AD&D $1,746.57 $1,746.57 0%
Supplemental Employee Life $4,415.85 $4,415.85 0% Supplemental Spouse Life $845.26 $845.26 0% Supplemental Child Life $182.00 $182.00 0%
Supplemental Employee AD&D $570.68 $570.68 0% Supplemental Spouse AD&D $109.50 $109.50 0% Supplemental Child AD&D $48.60 $48.60 0%
Long Term Disability $5,200.53 $5,200.53 0% Short Term Disability $6,985.65 $6,985.65 0%
- Life rates are based on per $1,000
- AD&D rates are based on per $1,000
- Dependent Life rates are based on per family unit
- Long Term Disability Rates based on $100 of monthly covered payroll
- Short Term Disability rates are quoted as per $10 of weekly covered benefit
Sincerely, Shemar Henry April 24, 2023 Account Manager date
(425) 256-8529 Symetra cc:
In an effort to ensure the accuracy of your bill, our system will be automatically updated to reflect the above rate action 31 days prior to the policy renewal date if Symetra does not receive communication of acceptance, termination, or rate review request.
If you have any questions regarding this renewal information, please contact me or HUB International. We appreciate the opportunity to provide this insurance coverage and look forward to many more years of continued service to you.
HUB International
Basic Life Plan Change reflects a 3 X earnings benefit to a $500,000 maximum and a flat $10,000 benefit for eligible Spouses and Dependent Children.
Supplemental Life rates reflect both renewal rates, and for a plan change to increase the maximum benefit to $500,000 for Employees, to increase the maximum benefit to $250,000 for Spouses, and to increase the maximum benefit to $20,000 for child(ren).
- Life Insurance renewal rates are guaranteed for 2 years from the date shown above.
- Long Term Disability Insurance rates are guaranteed for 2 years from the date shown above.
- Short Term Disability Insurance rates are guaranteed for 2 years from the date shown above.
Policy Number: 01-017859-00
Policyholder: City of Burleson
January 1, 2024
Monthly Rate/Fee $0.090 $2.000 $4.000 $0.030
Step-rates* Step-rates*
$2.000 $0.030 $0.030 $0.040 $0.210 $0.210
Monthly Rate/Fee $0.094
$0.103
$0.107 $3.000 $0.030
Step-rates* Step-rates*
$2.000 $0.030 $0.030 $0.040
- Life rates are based on per $1,000
- AD&D rates are based on per $1,000
- Dependent Life rates are based on per family unit
- Child Life rates are based on per family unit
- Long Term Disability Rates based on $100 of monthly covered payroll
- Short Term Disability rates are quoted as per $10 of weekly covered benefit
Basic Employee AD&D Supplemental Employee Life Supplemental Spouse Life Supplemental Child Life Supplemental Employee AD&D Supplemental Spouse AD&D Supplemental Child AD&D
Short Term Disability
Basic Dependent Life - Plan Change
Coverage/Service Plan Change Basic Employee Life - Inforce with Occupational Death Benefit
Basic Employee Life - Plan Change with Occupational Death Benefit for First Responders
Basic Employee AD&D Supplemental Employee Life Supplemental Spouse Life Supplemental Child Life
Supplemental Child AD&D Long Term Disability
Supplemental Employee AD&D Supplemental Spouse AD&D
Basic Employee Life - Plan Change without Occupational Death Benefit
Basic Dependent Life Class 2
SYMETRA LIFE INSURANCE COMPANY
777 108th Avenue NE, Suite 1200 Bellevue, Washington 98004-5135
PREMIUM RATE NOTICE
Effective Date of Premium Rates/Fees:
Coverage/Service Renewal
Basic Dependent Life Class 1 Basic Employee Life
Supplemental Employee Life Step-rates are as follows:
Current: Renewal:
Age Rate per $1,000 Rate per $1,000 < 25 $0.070 $0.070
25-29 $0.070 $0.070 30-34 $0.080 $0.080 35-39 $0.100 $0.100 40-44 $0.140 $0.140 45-49 $0.220 $0.220 50-54 $0.330 $0.330 55-59 $0.540 $0.540 60-64 $0.720 $0.720 65-69 $1.220 $1.220 70-74 $2.160 $2.160 75 + $8.180 $8.180
Supplemental Spouse Life Step-rates are as follows:
Current: Renewal:
Age Rate per $1,000 Rate per $1,000 < 25 $0.070 $0.070
25-29 $0.070 $0.070 30-34 $0.080 $0.080 35-39 $0.100 $0.100 40-44 $0.140 $0.140 45-49 $0.220 $0.220 50-54 $0.330 $0.330 55-59 $0.540 $0.540 60-64 $0.720 $0.720 65-69 $1.220 $1.220 70-74 $2.160 $2.160 75 + $8.180 $8.180
BY:
Basic Life Plan Change reflects a 3 X earnings benefit to a $500,000 maximum and a flat $10,000 benefit for eligible Spouses and Dependent Children.
Margaret Meister, President
Any policy issued in the State of New York is insured and underwritten by First Symetra National Life Insurance Company of New York, a New York-licensed insurer. Any policy issued in any state other than the State of New York is insured and underwritten by Symetra Life Insurance Company, an Iowa-domiciled insurer that is licensed in all states except New York.
Rates/Fees will be guaranteed until January 1, 2026 unless there is a change in benefits, eligibility, or an Associated Company is added.
Supplemental Life rates reflect both renewal rates, and a plan change to increase the maximum benefit to $500,000 for Employees, to increase the maximum benefit to $250,000 for Spouses, and to increase the maximum benefit to $20,000 for child(ren).
Date:
Instructions:
April 24, 2023
(1) Use these rates beginning on the effective date shown above.
(2) Retain this Premium Rate Notice with your policy.
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