City of Columbia City Council Agenda 2026-07-09
City Renews Stop Loss Coverage With Sun Life
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Description
The City of Columbia will renew its stop loss group medical insurance coverage with Sun Life Financial effective July 1, 2026, maintaining a $150,000 individual specific deductible and a $125,000 aggregating specific deductible. The agreement includes a 3.7% premium increase and guarantees against individual lasers and outsized rate hikes.
Contract Details
Vendor
SUN LIFE FINANCIAL
Agency
City of Columbia, TN
Contract Type
INSURANCE
Document Date
July 2, 2026
Contract Term
Effective July 1, 2026; plan year 2026-2027
Renewal Date
2027-07-01
Renewal Info
Annual stop loss coverage renewal effective July 1, 2026 with guarantees against individual lasers and increases above 50%; future renewals expected on a yearly plan cycle.
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