city_of_miramar_city_commission_regular_meeting_ag.pdf
Aetna Awarded Multi-Year Self-Funded Health Plan
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Description
Miramar approved a three-year self-funded health insurance agreement with Aetna, Inc., with two additional one-year renewal options. For Calendar Year 2021 the City set premium equivalent rates covering $14.25 million in expected claims, a 5% contingency, and $1.23 million in administration and stop loss fees, for a total not-to-exceed of $16.19 million.
Contract Details
Contract Amount
Not-to-exceed $16,193,490 (including $14,249,975 expected claims, $712,499 contingency, $1,231,016 admin and stop loss fees)
Vendor
AETNA INC
Agency
City of Miramar, FL
Contract Type
INSURANCE
Document Date
November 5, 2025
Contract Term
Three (3) year agreement with two (2) one (1) year renewal options; premium equivalent rates set for Calendar Year 2021
Renewal Date
2023-12-31
Renewal Info
Three-year base term with two optional one-year renewals; 2021 premium equivalent rates approved with defined expected claims, contingency, and admin/stop loss fees.
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