Title
Human Resources Department, Risk Management Division recommending the Board approve continuation of perpetual Agreement 234-S1611 with Bank of America to provide Health Savings Account Administration Services for the plan year of January 1, 2018 through December 31, 2018. There is no cost to the County under this Agreement.
FUNDING: Non-financial Agreement.
Body
DEPARTMENT RECOMMENDATION
Human Resources Department, Risk Management Division recommending the Board approve continuation of perpetual Agreement No. 234-S1611 with Bank of America to provide Health Savings Account (HSA) Administration Services. There is no cost to the County under this Agreement.
DISCUSSION / BACKGROUND
On August 11, 2015 (Legistar No. 15-0963), the Board approved execution of an Agreement with Bank of America to provide Health Savings Account (HSA) Administration Services. The initial term of the Agreement was January 1, 2016 through December 31, 2016 which automatically renews January 1st of each year unless either party provides sixty (60) days prior written notice to the other party.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
Procurement and Contracts
CAO RECOMMENDATION
It is recommended that the Board approve this item.
FINANCIAL IMPACT
This Agreement is non-financial. There is no change in Net County Cost.
CLERK OF THE BOARD FOLLOW UP ACTIONS
None
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Marco Sandoval