Board Agenda - March 20, 2007

j. Wachovia consultant agreement renewal

Presenter: Danny Modisette

Purpose: A - Request decision - closure required

Time: No time limit

Description:

Wachovia Insurance Services (formerly Palmer & Cay Consulting), has provided health care consulting to the district since February 2005. Their expertise has saved the Employee Health Benefit Plan approximately five million dollars in the last two years, through plan design and contracting. In addition, they provide periodic assistance with the workers' compensation plan.

The original annual cost of $125,000 was guaranteed for two years, however that amount has been extended again this year. Consulting fees are an administrative expense to the self-funded plans.

Recommendation:

To approve the renewal of the agreement with Wachovia Insurance Services to provide consulting services to the Plano ISD's health and workers' compensation plans, effective February 1, 2007.

Business Impact:

Consulting services reduces expenses and claim liability to both the health and workers' compensation plans, which protects these critical employee benefit plans.

Summary:

Appendix:

Return to Meeting Agenda