Insurance and Benefits Committee Meeting

Page 1 of 2 6-25-2026 Insurance and Benefits Committee Minutes BRADENTON INSURANCE AND BENEFITS COMMITTEE MEETING MINUTES 1:30 p.m., Thursday June 25, 2026 CITY HALL COUNCIL CHAMBERS - 101 OLD MAIN STREET The City of Bradenton Insurance and Benefits Committee met in the City Hall Council Chamber, 101 Old Main Street, Bradenton, Florida, at 1:30 p.m., Thursday, June 25, 2026. Members: Mayor Gene Brown; Lance Williams, Chief Operating Officer; Paul Driscoll, Police Legal Advisor, Bradenton Police Department; Volker Reiss, Code Enforcement Manager; Corey Fortin, Policy, Planning and Procedures Administrator; Stephen Rissler, Driver/Engineer, Bradenton Fire Department; Corey Phipps, Administrative Officer, Bradenton Fire Department; Heidi Wernemunde, Finance Director; Ross Peterson, Operations and Maintenance Manager; and Lieutenant Anthony Ramdath, Bradenton Police Department Councilman Ward III Kemp Schuessler; Rob Perry, City Administrator; Ryan Vaughn, Police Sergeant, Bradenton Police Department; Ed Ference, Associate Director Public Works and Utilities were excused. City Staff Present: Nilsa Taylor, Director of Administrative Services; and Shemeka Standifer, Human Resources and Risk Manager. CITIZEN COMMENT: None. The meeting was called to order by Mayor Gene Brown at 1:30 p.m. AGENDA ITEMS: a) Clerk: Minutes from the May 18, 2026, Insurance and Benefits Committee Meeting MOTION TO APPROVE THE MINUTES FROM THE MAY 18, 2026, INSURANCE AND BENEFITS COMMITTEE MEETING was made by Committee Member Driscoll and seconded by Committee Member Fortin. The motion passed unanimously. b) Human Resources: Renewal Projections and Goals for Health Insurance – Brown and Brown Danielle Boyle, Brown & Brown, gave a presentation on the updated renewal rates and projections for the 2026-2027 year. She provided an overview of the current year, projected costs and information on stop loss. Ms. Boyle followed up from the May 18, 2026, meeting with details about group Medicare plans. Approved by Insurance and Benefits Committee on July 20, 2026

Page 2 of 2 6-25-2026 Insurance and Benefits Committee Minutes c) Human Resources: Review Request for Proposals for Supplemental Benefits – Brown and Brown Ms. Boyle stated she would present a detailed comparison at the next meeting to finalize before open enrollment begins in August 2026. GENERAL DISCUSSION: There was a discussion regarding stop-loss criteria and processes, and Ms. Boyle provided an overview of the term’s definition for the committee. The committee discussed scheduling an additional meeting to review and vote on renewal and supplemental benefit rates. The meeting was adjourned by Mayor Gene Brown at 1:57 p.m.

Agenda

AGENDA

BRADENTON INSURANCE AND BENEFITS COMMITTEE MEETING

1:30 p.m. Thursday, June 25, 2026

CITY HALL COUNCIL CHAMBERS - 101 OLD MAIN STREET

1.

PLEDGE OF ALLEGIANCE

2.

PUBLIC COMMENT

3.

MEETING CALLED TO ORDER

4.

AGENDA ITEMS

a)

Clerk :

Minutes from the May 18, 2026 Insurance and Benefits Committee Meeting

05-18-2026 Insurance and Benefits Committee Meeting minutes

b)

Human Resources :

Renewal Projections and Goals for Health Insurance - Brown and Brown

c)

Human Resources :

Review Request for Proposals for Supplemental Benefits - Brown and Brown

5.

GENERAL DISCUSSION

6.

ADJOURN

NON-DISCRIMINATION STATEMENT:

The City of Bradenton prohibits discrimination in all of its services, programs or activities on the basis of race, color, age, disability, sex, national origin, religion, genetic information or marital status. Persons with a disability needing a reasonable accommodation to participate in, or who require assistance or an alternative means for communication of program information such as Braille, large print, etc., should contact as soon as possible, but at least 48 hours in advance:

City of Bradenton ADA/Title VI Coordinator

101 Old Main Street

Bradenton, FL 34205

ADACoordinator@cityofbradenton.com

941-932-9400

TTY: 7-1-1 or 1-800-955-8771

La ciudad de Bradenton proveera servicio de interprete a las personas quienes su primer lenguage no es el ingles. Si necesita estos servicios, usted o su representante puede comunicar al ADA/Title VI Coordinator, 101 Old Main Street, Bradenton, FL 34205. Tambien puede llamar al (941) 932-9470 o enviar correo electronico a ADACoordinator@cityofbradenton.com

AGENDA BRADENTON INSURANCE AND BENEFITS COMMITTEE MEETING 1:30 p.m. Thursday, June 25, 2026 CITY HALL COUNCIL CHAMBERS - 101 OLD MAIN STREET 1. PLEDGE OF ALLEGIANCE 2. PUBLIC COMMENT 3. MEETING CALLED TO ORDER 4. AGENDA ITEMS a) Clerk: Minutes from the May 18, 2026 Insurance and Benefits Committee Meeting 05-18-2026 Insurance and Benefits Committee Meeting minutes b) Human Resources: Renewal Projections and Goals for Health Insurance - Brown and Brown c) Human Resources: Review Request for Proposals for Supplemental Benefits - Brown and Brown 5. GENERAL DISCUSSION 6. ADJOURN 1

NON-DISCRIMINATION STATEMENT: The City of Bradenton prohibits discrimination in all of its services, programs or activities on the basis of race, color, age, disability, sex, national origin, religion, genetic information or marital status. Persons with a disability needing a reasonable accommodation to participate in, or who require assistance or an alternative means for communication of program information such as Braille, large print, etc., should contact as soon as possible, but at least 48 hours in advance: City of Bradenton ADA/Title VI Coordinator 101 Old Main Street Bradenton, FL 34205 ADACoordinator@cityofbradenton.com 941-932-9400 TTY: 7-1-1 or 1-800-955-8771 La ciudad de Bradenton proveera servicio de interprete a las personas quienes su primer lenguage no es el ingles. Si necesita estos servicios, usted o su representante puede comunicar al ADA/Title VI Coordinator, 101 Old Main Street, Bradenton, FL 34205. Tambien puede llamar al (941) 932-9470 o enviar correo electronico a ADACoordinator@cityofbradenton.com 2

AGENDA ITEM NO. 4.a Item Cover Page DATE: June 25, 2026 SUBMITTED BY: Jamie Griffith, Clerk ITEM TYPE: Minutes AGENDA SECTION: AGENDA ITEMS SUBJECT: Minutes from the May 18, 2026 Insurance and Benefits Committee Meeting SUGGESTED ACTION: Approval INSURANCE AND BENEFITS COMMITTEE MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: N/A FINANCIAL IMPACT: N/A ATTORNEY REVIEW/RECOMMENDATION: N/A SUGGESTED MOTION: Motion to approve the minutes from the May 18, 2026 Insurance and Benefits Committee Meeting. ATTACHMENTS: 05-18-2026 Insurance and Benefits Committee Meeting minutes 3

Page 1 of 3 5-18-2026 Insurance and Benefits Committee Meeting Minutes BRADENTON INSURANCE AND BENEFITS COMMITTEE MEETING MINUTES 2:00 p.m., Monday, May 18, 2026 CITY HALL COUNCIL CHAMBERS - 101 OLD MAIN STREET The City of Bradenton Insurance and Benefits Committee met in the City Hall Council Chamber, 101 Old Main Street, Bradenton, Florida, at 2:00 p.m. on Monday May 18, 2026. Members: Mayor Gene Brown; Councilman Ward III Kemp Schuessler; Rob Perry, City Administrator; Ryan Vaughn, Police Sergeant, Bradenton Police Department; Paul Driscoll, Police Legal Advisor, Bradenton Police Department; Volker Reiss, Code Enforcement Manager; Cory Fortin, Policy, Planning and Procedures Administrator; Mary Goot, Budget Analyst (substitute); Corey Phipps, Administrative Officer, Bradenton Fire Department; and Ed Ference, Associate Director Public Works and Utilities. Heidi Weirnemunde, Finance Director; and Lieutenant Anthony Ramdath of Bradenton Police Department were excused. City Staff Present: Lance Williams, Chief Operating Officer; Nilsa Taylor, Director of Administrative Services; and Shemeka Standifer, Human Resources and Risk Manager. The meeting was called to order by Mayor Gene Brown at 2:00 p.m. CITIZEN COMMENT: None. AGENDA ITEMS a) Human Resources: Performance and Market Update Q1 – Burgess Chambers Mitchel Brennan, from Burgess Chambers, presented market and investment information on Quarter 4 of 2025 and Quarter 1 of 2026. Burgess Chambers Comments: • The S&P 500 reached peak concentration in early November 2025. • Fears of extended valuations related to the Magnificent 7 and AI related names lead to a market rotation. • Small Cap outperformed Large Cap and Value outperformed Growth in 1Q. • Growth has outpaced Value to start Q2 2026. • Large Cap Growth valuations remain extended relative to historic levels, despite the recent pullback. • Despite uncertainty surrounding the war with Iran and the closure of the Strait of Hormuz, markets have reverted back to risk-on. 4

Page 2 of 3 5-18-2026 Insurance and Benefits Committee Meeting Minutes • Through May 11th, all US Equity categories are back in positive territory. • In 2025, the US imported an average of 490K b/d of crude oil from the Middle East (Bahrain, Iraq, Kuwait, Oman, Qatar, S.A., and the UAE). • Imports from the M.E. made up 8% of the 6.2 million b/d of U.S. crude oil imports in 2025. Far less than from Canada, but slightly more than from Mexico. • Weekly gasoline prices have surged to over $4 a gallon since the start of the war with Iran. • The lowest income cohorts are hardest hit by increases in energy prices. • The International Energy Agency announced the largest emergency oil stock release on record with 32 member countries set to release 400M barrels over the coming months, more than twice the amount released during the 2022 Russia-Ukraine conflict. • The world consumes roughly 100M barrels of oil per day, 20% of which flows through the Strait of Hormuz. This is equivalent to roughly 4 days of global consumption or 20 days of Strait flows. • Higher oil and energy prices are already being felt in the last two CPI reports for March and April. • Inflation has jumped up to +3.8%, with the increase in Energy prices accounting for over 40% of the monthly All Items increase. Plan Updates: • Average Speed of Answer (ASA) for Q1 2026 was 0:00:21. • Plan assets fell by -$315K (-1.8%) during the quarter. Ending market value: $17.1M. • Four funds were highlighted as “funds on watch” based on trailing three and five-year performance. One fund highlighted based on trailing performance for four consecutive quarters. • T. Rowe Price Growth Stock I was approved to close, with assets and elected deferrals mapping to the Fidelity Large Cap Growth Index. • FMI Large Cap Instl was approved to close, with assets and elected deferrals mapping to the Vanguard Equity Income Fund Adm. Mr. Brennan provided investment information based on demographic categories. He discussed ways MissionSquare could educate employees on investment opportunities. MOTION TO ADD THE TARGET DATE SERIES RETIREMENT 2070 FUND was made by Councilman Schuessler and seconded by Committee Member Driscoll. The motion passed unanimously. Councilman Schuessler summarized the process of the retirement fund and how it was invested over time. b) Human Resources: Claims and Plan Updates – Brown and Brown Danielle Boyle, from Brown and Brown, gave a summary of the current plan year and initial projections for 2026-2027. 5

Page 3 of 3 5-18-2026 Insurance and Benefits Committee Meeting Minutes Reforecast of the 2025/2026 Plan Year •With claims through March, the current plan year is now projected to end 0.4% under budget This represents approximately $45,000 below budgeted rates. •Rx Rebates of $680k YTD (2 quarterly payments) have been received and included in this calculation •Medical claims have increased 11.2% year over year •Pharmacy costs have increased 31.4% year over year •Anti-cancer and autoimmune medications are top categories Initial Projection 2026/2027 Plan Year •With claims through March, the current plan year is now projected to end 10.2% increase. This represents approximately $1,070,000. •Medical trend 8.5%, Rx trend 13% •Assuming 30% for stop loss renewal as a placeholder •Note: last stop loss renewal was a 22% increase citing recouping some of the losses for the very large claim in 2024 •The market mostly declined, and no carrier was competitive with the renewal c) Human Resources: Renewal projections and goals for all lines of insurance – Brown and Brown Ms. Boyle spoke about supplemental benefit options through different providers that the City offered. She mentioned streamlining the benefits through one provider to reduce costs. Councilman Schuessler asked about the difference between the providers. Ms. Boyle explained different options available between Allstate and AFLAC and the advantages of these benefits. She recommended evaluating the plans to improve the offerings to employees. Mayor Brown asked about current plans offered to retirees and opportunities for improvement. Ms. Boyle shared some recommendations on plan changes and stated she was exploring additional options along with an alternative hospital network and would present information at the next meeting. Renewal Discussion • Pharmacy Benefit Manager (PBM) Evaluation Recommended • Explore other options for medical this year • HSA administrator evaluation, up for renewal • Dental and vision are in a rate guarantee through next year • Life and disability through 2 more years, expiring 10/1/28 GENERAL DISCUSSION: None. The meeting was adjourned by Mayor Brown at 3:06 p.m. NOTE: This is not a verbatim record. An audio recording of the meeting is available upon request. 6

AGENDA ITEM NO. 4.b Item Cover Page DATE: June 25, 2026 SUBMITTED BY: Shemeka Standifer, Human Resources ITEM TYPE: Miscellaneous AGENDA SECTION: AGENDA ITEMS SUBJECT: Renewal Projections and Goals for Health Insurance - Brown and Brown SUGGESTED ACTION: Motion to approve or deny proposed rates for 2026- 2027. INSURANCE AND BENEFITS COMMITTEE MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: Insurance and Benefits Committe will vote on proposed rates for 2026-2027. ATTACHMENTS: 7

AGENDA ITEM NO. 4.c Item Cover Page DATE: June 25, 2026 SUBMITTED BY: Shemeka Standifer, Human Resources ITEM TYPE: Miscellaneous AGENDA SECTION: AGENDA ITEMS SUBJECT: Review Request for Proposals for Supplemental Benefits - Brown and Brown SUGGESTED ACTION: Motion to approve or deny Brown and Brown's recommendations. INSURANCE AND BENEFITS COMMITTEE MEETING AGENDA ITEM REPORT Is this item Quasi-Judicial? No Does this item require a public hearing? No EXPLANATION: Insurance and Benefits Committee to vote on Brown & Brown's recommendations. ATTACHMENTS: 8