City to Contract With Sun Life for Stop-Loss Coverage
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Description
The City of Covington is seeking approval for an agreement with Sun Life to provide medical insurance stop-loss coverage beginning July 1, 2026, at an annual cost of $725,862 funded by the General Fund. HUB International recommended Sun Life after conducting a market review of preferred vendors.
Contract Details
Contract Amount
$725,862
Vendor
SUN LIFE
Agency
Housing Authority of Covington, KY
Contract Type
INSURANCE
Document Date
May 25, 2026
Contract Term
Effective July 1, 2026 (medical stop-loss plan year)
Renewal Date
2027-07-01
Renewal Info
Agreement is for medical stop-loss coverage effective July 1, 2026 for the upcoming plan year; future renewals will follow annual benefits cycles and may be subject to rate changes.
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