Stop Loss Coverage for Self Funded Health Plan

The City of Sarasota is soliciting proposals for stop loss coverage for its self-funded health plan, with an effective date of January 1, 2027. The plan currently serves approximately 747 employees and 265 retirees, though Medicare eligible retirees are specifically excluded from stop loss coverage. The scope of work requires coverage for both medical and pharmacy benefits on a 24/12 contract basis. Proposers must provide options for individual stop loss at $250,000 and $275,000, along with aggregate coverage featuring a 125 percent corridor, a 50 percent rate cap, an NNL provision, and a Spec Advance Rider. This is a closed bid requiring best and final rates quoted net of commissions. Proposals will be evaluated by the City and Brown and Brown based on proposed rates, terms and conditions, and responses to a questionnaire. The submission deadline is October 21, 2026, at 5:00pm EST via email. All inquiries and proposals are coordinated through Brown and Brown, with primary procurement contact Helen Reed and marketing analyst Morgan Johnson. The plan must also comply with Section 112.0801 of the Florida Statutes regarding retiree participation.