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Downers Grove Grade School District 58 Stop Loss Insurance Proposal 2026

Stop loss insurance renewal proposal for District 58

Option 1: Estimated annual cost $1,242,261; Option 2: Estimated annual cost $1,127,369; Option 3: Estimated annual cost $1,024,521Downers Grove GSD 58Reliastar LIFE INSURANCE COMPANYApril 23, 2026

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Description

ReliaStar Life Insurance Company, part of the Voya family of companies, has proposed a stop loss insurance renewal for Downers Grove Grade School District 58 effective July 1, 2026, offering three deductible options with estimated annual costs ranging from $1.02 million to $1.24 million. The proposal maintains unlimited maximums and key endorsements such as no new lasers and a 50% renewal rate cap, and remains valid for acceptance through May 15, 2026.

Contract Details

Contract Amount

Option 1: Estimated annual cost $1,242,261; Option 2: Estimated annual cost $1,127,369; Option 3: Estimated annual cost $1,024,521

Vendor

Reliastar LIFE INSURANCE COMPANY

Agency

Downers Grove GSD 58, IL

Contract Type

INSURANCE

Document Date

April 23, 2026

Contract Term

Policy effective July 1, 2026; coverage period paid in 12 months for claims incurred on or after July 1, 2024

Renewal Date

2027-06-30

Renewal Info

Renewal proposal for existing individual excess risk (stop loss) coverage, effective July 1, 2026, with rate guarantees firm through May 15, 2026 and a stated 50% renewal rate cap on future increases. Options vary deductible levels ($175,000, $200,000, $225,000) to manage leveraged medical trend; final option selection will define the binding renewal. Coverage excludes retirees and requires continued Aetna administration, medical case management, and utilization review.

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