Vote: approved

Item Text

32. ESTABLISH TWO ADMINISTRATIVE BANK ACCOUNTS Pursuant to the Establishing Administrative Bank Accounts Policy A2504, the Department of Finance is requesting authorization to establish two administrative bank accounts for the Employee Benefits and Health Department to process payments to United Healthcare Group (UHG). Starting 7/1/14, UHG will be the new carrier for two of the County’s medical plans (PPO and High Deductible Health Plan with Health Savings accounts). The two administrative bank accounts will be used to fund UHG’s: 1) medical claims and 2) employee and employer contributions to the Health Savings Accounts linked to the High Deductible Health Plan. The Administrative Bank Account Committee and County Treasurer have reviewed and approved the Employee Benefits and Health Department Request for the Administrative Bank Accounts. The administrative bank accounts will be established with the County’s servicing bank. Electronic access to the bank accounts will be granted to the Employee Benefits and Health Department, Treasurer’s Office, and Department of Finance. The Department of Finance will work with the Employee Benefits and Health Department to ensure proper cash handling procedures are used to manage the bank account. (C-18-14-010-2-00)

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