Addendum_1_City_of_Sarasota_-_Caremark_ASA_(01.01.2020)_FULLY_EXECUTED.pdf

This is an Addendum document to the City of Sarasota's broker/agent services contract with Caremark for health-related employee benefits, executed effective January 1, 2020. The addendum modifies the original contract terms between the City of Sarasota, Florida and Caremark Prescription Solutions, Inc. (Caremark ASA) regarding comprehensive broker and agent services for evaluating and obtaining insurance coverage and managing the City's self-funded medical, pharmacy, and dental plans, as well as supplemental insurance products. The City serves approximately 804 full-time employees, 642 retirees (271 on self-insured medical plans), 2 COBRA participants, and approximately 1,782 total lives including dependents across multiple benefit options. Required services include initial plan audits, market analyses, quarterly invoice audits, annual renewal projections, stop loss coverage analyses, benefits administration support with no fewer than 30 hours of annual free training, open enrollment project management, and regular reporting on plan performance and market trends. The addendum became effective on January 1, 2020, and the contract term included provisions for renewal options by mutual agreement subject to budgetary constraints.

The addendum modifies specific terms and conditions of the original Caremark contract, though the document does not specify the exact pricing adjustments or amendment details within the provided file. As an executed addendum rather than the original RFP, this document represents modifications to an existing contract with an identified incumbent vendor (Caremark), indicating that Caremark held the broker/agent services contract position as of the addendum execution date. The pricing structure for the original contract was established as an annual fixed-price fee covering all overhead, profit, miscellaneous expenses, and travel, paid on a quarterly basis, with compensation amounts proposed for multiple contract years.