INSURANCEAPPROVED

City of Holmes Beach AgendaPacket 2026-05-26

City Joins PRM Health Trust for Employee Coverage

1.1% premium increase first year; estimated $3,700 increase for remainder of current fiscal year and $15,000 increase next fiscal yearCity of Holmes BeachPUBLIC RISK MANAGEMENT OF FLORIDA HEALTH TRUSTMay 26, 2026

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Description

Holmes Beach approved an agreement with the Public Risk Management of Florida Health Trust to provide employee health insurance, securing a 1.1% premium increase over a 15‑month initial term. The two-year membership is expected to save money versus a proposed 20% renewal from the City’s prior carrier while enhancing employee benefits.

Contract Details

Contract Amount

1.1% premium increase first year; estimated $3,700 increase for remainder of current fiscal year and $15,000 increase next fiscal year

Vendor

PUBLIC RISK MANAGEMENT OF FLORIDA HEALTH TRUST

Agency

City of Holmes Beach, FL

Contract Type

INSURANCE

Document Date

May 26, 2026

Contract Term

Initial 2-year membership; first year July 1, 2026 – September 30, 2027 (15 months); thereafter annual renewals October 1–September 30

Renewal Date

2028-09-30

Renewal Info

Agreement requires an initial two‑year membership, with first‑year rates at 1.1% above current, second‑year projected at a 5–6% pool average increase, and later years adjusted by the City’s experience; the City may opt out after the initial term.

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