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HomeMy WebLinkAbout61-06 61-06 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS AUTHORIZING EXECUTION OF AN AGREEMENT WITH ASSURANT EMPLOYEE BENEFITS FOR EMPLOYEE DENTAL INSURANCE PLAN SERVICES WHEREAS, the City Council of the Town of Los Altos Hills has approved the establishment of an Employee Dental Plan for the benefit of its employees; WHEREAS, Assurant Employee Benefits has offered an Employee Dental Plan with a full range of services at a competitive rate; NOW,THEREFORE, BE IT RESOLVED by the City Council of the Town of Los Altos Hills that the City Manager is hereby authorized and directed to execute the attached Agreement/Application between the Town and Los Altos Hills and Assurant Employee Benefits on behalf of the Town of Los Altos Hills. PASSED AND ADOPTED this 27th day !!:. By: `-Q`�"► ayor ATTES : City IV • • Union Security Insurance Company agrees to provide the insurance described in this and the following pages of the policy, subject to payment of premiums. Policyholder: Town of Los Altos Hills Policy Number: G 55,259 Delivered In: California and governed by its laws. Effective Date: August 1, 2006-The date the policy takes effect which is also its date of issue. Premium Due Dates: The first premium is due on the Effective Date. Future premiums are due on the first day of each month after that. Policy Anniversary: January 1, 2007, and each January 1 after that. Insurance Provided: Group Dental Insurance—Contributory Group Dental Insurance for Dependents—Contributory Cleidaa •6/14114' 001:414s, pe vezylen. Assistant Secretary Executive Vice-President Union Security Insurance Company 2323 Grand Boulevard Kansas City Missouri 64108-2670 • GP-90 PF • • NOTICE If you need to contact someone about this Policy for any reason, please contact your agent. Please refer to your Policy Number in all correspondence. If you have any additional questions, you may contact our company by mailing your questions to: Union Security Insurance Company Customer Relations P.O. Box 419596 Kansas City, Missouri 64141-9958 You may also reach Union Security by telephone at 800.733.7879. If you have not been able to contact or obtain satisfaction from your agent or Union Security, you may contact the California Department of Insurance by writing to: California Department of Insurance Ronald Reagan Building 300 South Spring Street Los Angeles, CA 90013 Toll-Free Number: 800.927.4357 (927.HELP) inside California except area codes 213 and 310. Hotline for Callers in area codes 213 and 310 and Outside of California: 213.897.8921. This notice of complaint procedure is for information only and does not become a part or condition of this Policy or Certificate. • • . CALIFORNIA LIFE AND HEALTH INSURANCE GUARANTEE ASSOCIATION ACT SUMMARY DOCUMENT AND DISCLOSURE Residents of California who purchase life and health insurance and annuities should know that the insurance companies licensed in this state to write these types of insurance are members of the California Life and Health Insurance Guarantee Association (CLHIGA). The purpose of this Association is to assure that policyholders will be protected,within limits, in the unlikely event that a member insurer becomes financially unable to meet its obligations. If this should happen, the Guarantee Association will assess its other member insurance companies for the money to pay the claims of insured persons who live in this state and, in some cases, to keep coverage in force. The valuable extra protection provided through the Association is not unlimited, as noted in the box below, and is not a substitute for consumers' care in selecting insurers. The California Life and Health Insurance Guarantee Association may not provide coverage for this policy. If coverage is provided, it may be subject to substantial limitations or exclusions, and require continued residency in California. You should not rely on coverage by the Association in selecting an insurance company or in selecting an insurance policy. Coverage is NOT provided for your policy or any portion of it that is not guaranteed by the insurer or for which you have assumed the risk, such as a variable contract sold by prospectus. Insurance companies or their agents are required by law to give or send you this notice. However, insurance companies and their agents are prohibited by law from using the existence of the Guarantee Association to induce you to purchase any kind of insurance policy. Policyholders with additional questions should first contact their insurer or agent or may then contact: California Life and Health Insurance or Consumer Service Division Guarantee Association California Department of Insurance P. O. Box 17319 300 South Spring Street Beverly Hills, CA 90209-3319 Los Angeles, CA 90013 Below is a brief summary of this law's coverages, exclusions and limits. This summary does not cover all provisions of the law; nor does it in any way change anyone's rights or obligations under the Act or the rights or obligations of the Association. COVERAGE Generally, individuals will be protected by the California Life and Health Insurance Guarantee Association if they live in this state and hold a life or health insurance contract, or an annuity, or if they are insured under a group insurance contract, issued by a member insurer. The beneficiaries, payees or assignees of insured persons are protected as well, even if they live in another state. EXCLUSIONS FROM COVERAGE However, persons holding such policies are not protected by this Guarantee Association if: • Their insurer was not authorized to do business in this state when it issued the policy or contract; • (14 • Their policy was issued by a health care service plan (HMO), Blue Cross, Blue Shield, a charitable organization, a fraternal benefit society, a mandatory state pooling plan, a mutual assessment company, an insurance exchange, or a grants and annuities society; • They are eligible for protection under the laws of another state. This may occur when the insolvent insurer was incorporated in another state whose guarantee association protects insureds who live outside that state. The Guarantee Association also does not provide coverage for: • Unallocated annuity contracts;that is, contracts which are not issued to and owned by an individual and which guarantee rights to group contract holders, not individuals; • Employer and association plans, to the extent they are self-funded or uninsured; • Synthetic guaranteed interest contracts; • Any policy or portion of a policy which is not guaranteed by the insurer or for which the individual has assumed the risk, such as a variable contract sold by prospectus; • Any policy of reinsurance, unless an assumption certificate was issued; Interest rate yields that exceed an average rate; • Any portion of a contract that provides dividends or experience rate credits. LIMITS ON AMOUNT OF COVERAGE The Act limits the Association to pay benefits as follows: LIFE AND ANNUITY BENEFITS • 80% of what the life insurance company would owe under a life policy or annuity contract up to: o $100,000 in cash surrender values, o $100,000 in present value of annuities, or o $250,000 in life insurance death benefits. • A maximum of$250,000 for any one insured life no matter how many policies and contracts there were with the same company, even if the policies provided different types of coverages. HEALTH BENEFITS • A maximum of$200,000 of the contractual obligations that the health insurance company would owe were it not insolvent. The maximum may increase or decrease annually based upon changes in the health care cost component of the consumer price index. PREMIUM SURCHARGE Member insurers are required to recoup assessments paid to the Association by way of a surcharge on premiums charged for health insurance policies to which the Act applies.