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City of Covington Agenda Packet 2026-05-26

City to Contract With Sun Life for Stop-Loss Coverage

$725,862Housing Authority of CovingtonSUN LIFEMay 25, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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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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