Employee Benefit Trust Minutes - 10/27/2022 City of Wichita Falls
Employee Benefits Trust Board
Meeting Minutes
October 27th, 2022
The meeting was held in the City Manager's Conference Room at Memorial Auditorium, 1300
Seventh Street, Wichita Falls, TX 76301.
Present: Darron Leiker, City Manager
Kinley Hegglund, City Attorney
Christi Klyn, Director of Human Resources
Jessica Williams, Chief Financial Officer
Angela Bosma, Employee Benefits Specialist II
Brent Weegar, HUB International, Senior Vice President (telephone)
Agenda Items:
I. Meeting was called to order at 8:00 am.
II. Minutes from the previous meeting on 7/28/22 were approved.
III. There was no financial report
IV. HUB International presentation
a. The following action was recommended by HUB:
i. Renew Stop Loss policy with Stealth/Berkley for PY23.
1. Their 2.95% increase proposal ended up below the conservative
FY23 budgeted increase of 15%, and there is to be no change to
the $500,000.00 deductible. During the review process, the
proposal was benchmarked against eight other competitors and
the closest competition was at 6.44% increase.
2. Overall, including stop loss premiums and administration fees, the
City's fixed costs will decrease -0.8%, or -$9,150, for 2023. The
renewal includes a no new laser provision as well as a 55%
renewal rate cap which are additional layers of protection for the
2024 renewal.
V. The board voted to approve the renewal with Stealth/Berkley for PY2023.
VI. With no further business, the meeting was adjourned at 8:07 am.
Prepared by:
Angela D. Bosma, EBSII
City of Wichita Falls/HR-EBT