Employee Benefits Consultancy and Brokerage Services

The Vendor is required to provide for employee benefits consultancy and brokerage services for medical/prescription/dental/vision coverage on behalf of the township.
- Perform an annual consultative review and detailed analysis over all benefit and insurance programs.
- Performing a base line analysis of all programs and coverage in place and determining what updates, amendments and changes shall need to be implemented on an immediate and thereafter routine basis
- Offering recommendations and immediate action plans for compliance and other coverage issues
- Providing annual updates for benchmarking reviews over all areas of coverage
- Provide options, alternatives and alternate strategies and approaches for benefits delivery and administration.
- Lead the design of a client specific benefit planning process that includes:
•    Plan Design
•    Carrier selection and reviews
•    Health and Wellness Plan strategies
•    Funding types
•    Industry comparisons and benchmarking
•    Other strategic areas of consideration
- Marketing services for all lines of coverage; including;
•    The development of customized RFP materials, bid specifications and analytical tools used in managing and evaluating the data analysis process
•    Evaluating carrier provider networks, provider discounts, service levels, data capabilities and other client specific metrics
•    Conducting vendor negotiations and conducting and overseeing finalists presentations
•    Providing global implementation support for carrier or plan design changes
- Project manage and oversee all benefit related initiatives including:
•    The routine review of plan design materials, internal benefit related policies and procedures
•    Assisting with day to day carrier interaction and general tasks affiliated with the management of the benefit plans
- Provide standard client reporting, specific carrier results and other client specific performance results and metrics that will include but not be limited to:
•    Loss Ratio reports for applicable lines of coverage
•    Claim Utilization reports
•    Carrier Service results
•    Large Claimant services
- Provide recommendations for plan design alterations, health & wellness programs, and new coverage/benefit opportunities. This shall include but not be limited to:
•    Providing routine plan design alternatives and options
•    Developing underwriting and actuarial implications and modeling to outline cost impact and changes
•    Assist in designing health and wellness plan services and features to integrate with the benefit plans
•    Providing side-by-side program comparisons for current and alternate coverages
- Participate and facilitate executive level strategy sessions affiliated with employee benefits, including:
•    Coordinating planning session with key decision makers
•    Assisting in developing strategic plans from senior leaders with the client’s organization
•    Manage benefit planning sessions to determine strategic changes and direction as it relates to health and welfare
•    Present annual benefit plan plans, budgets, renewals, plan changes and other key updates to key executive / leadership groups
- Maintain and oversee modifications and updates to all plan materials based on ongoing benefit alterations, changes in program management, fiduciary liability, vendor changes, legal and statutory updates and other alterations that may be necessary
- Collecting the necessary data and materials for all applicable lines of coverage to develop the documents
- Produce suggested communication materials related to the employee benefit programs, including but not limited to preparing
•    New hire benefit communication materials that outline the provisions of the employee benefit programs
•    Develop simplified benefit outlines that can be used to illustrate levels of coverage for all benefit plans
•    Assist in the development of overall benefit communication materials that are used in the global explanation of employee benefits
•    Produce print-ready employee benefit newsletter content that can be regularly distributed to employees
•    Distribute regular content and material that can be shared with employees in the area of health and wellness
•    Coordinate and consolidate vendor communication materials used in the administration of the benefit plans

- Contract Period/Term: 1 year