Memorandum
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This memorandum proposes an amendment to the Vendor Agreement with Vision Service Plan (VSP) for vision care benefits for City employees, retirees, and their dependents. It recommends extending the agreement from January 1, 2026, to December 31, 2029, and increasing the not-to-exceed compensation amount from $13,745,682 to $20,504,700. The extension aims to maintain quality vision care benefits without rate increases for three years, ensuring stability and continuity of services.
Key points
- The agreement extension is for four years, from January 1, 2026, to December 31, 2029.
- The not-to-exceed compensation amount will increase to $20,504,700.
- VSP has provided vision insurance to City employees and retirees for many years.
- The current agreement has maintained fixed rates with no increases since 2016.
- The extension will ensure no rate increases for the first three years of the new term.
- VSP is recognized for its quality service and responsiveness to the City's needs.
Limitations
- The document contains unresolved placeholders such as 'Date:' and 'COUNCIL DISTRICT: Citywide'.
- The document does not specify the exact dates for the proposed budget adjustments.
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