Insurance Advisor and Broker Services

The vendor is required to provide for advisory/broker services for our employee benefits health and welfare plans.
- Provide benefit advisors/brokers who can deliver innovative solutions that will enhance the healthcare services for our employees and their families, while also implementing effective cost-containment strategies for both the plan and its members.  
- The ideal advisory/broker will operate with complete transparency and full disclosure, providing access to all our health plan data and analytics. 
- Broker/advisory services to broker the following services, but not limited to:
• Group health insurance
• Group dental insurance
• Group vision insurance
• Group short- and long-term disability insurance
• Group life insurance and accidental death & dismemberment insurance
• Supplemental life insurance
• Ancillary/worksite offerings to include accident, hospital indemnity, and critical illness plans
• Health savings account (HSA) and flexible spending account (FSA)
• Consolidated omnibus budget reconciliation act (COBRA)
• Assistance with 1095 reporting
• Insurance risk management
• An online benefit administration software that employees utilize to manage their benefits online
- Provide innovative plan design, funding alternatives, risk identification, risk exposure analysis, insurance placement and ongoing plan management to ensure competitive and effective benefits for city employees and retirees and to perform certain duties and provide certain services including, but not limited to, the following:
1. Analysis, strategy, and plan development
• Analyze the city’s insurance needs and provide written recommendations for plan changes, alternative funding methods, and cost-saving strategies.
• Prepare market analysis reports comparing city benefits to other public and private sector entities.
• Recommend long-term strategic benefits planning, considering future trends, legislative changes, and cost projections.
2. Carrier relations and negotiation
• Negotiate renewal rates with current carriers and/or market coverage to competing carriers to ensure cost efficiency and benefit maximization.
• Represent the city in negotiations with underwriters, claims adjusters, and other insurance related entities.
• Prepare and manage proposals from insurance and benefit providers and make recommendations to the city based on submitted proposals.
3. Plan administration and compliance
• Monitor plan performance and provide monthly and annual reports to the human resources and finance department that includes, at a minimum, all claims exceeding $25,000 and the high-cost prescription drugs filled by cost.
• Assist the city with compliance on federal and state regulations, including the affordable care act (aca), HIPAA, cobra, and other applicable laws.
• Conduct annual audits and ensure adherence to all mandated reporting and documentation requirements.
• Provide actuarial services as needed for employee benefit plans.
4. Employee engagement and enrollment support
• Coordinate annual open enrollment activities, including employee education and communication of benefit changes.
• Develop and maintain employee benefit guides, brochures, and digital resources.
• Act as a liaison between employees and benefit providers, assisting with claims resolution, appeals, and general inquiries.
• Recommend and assist in implementing wellness programs and cost-containment strategies to improve employee health and reduce healthcare costs.
5. Performance monitoring and cost containment
• Provide ongoing monitoring and evaluation of benefit utilization and trends.
• Identify and develop alternative benefit strategies to enhance savings and optimize offerings.
• Conduct periodic reviews of the city’s benefits structure and make recommendations for plan enhancements or cost control measures.
6. Benefit administration/ open enrollment software features
• Intuitive employee portal for open enrollment with mobile accessibility.
• Step-by-step guided enrollment process to reduce errors and improve user experience.
• Side-by-side plan comparison tool to help employees make informed choices.
• Pre-populated fields for returning employees to streamline re-enrollment.
• Decision-support tools (e.g., estimated cost calculators for employees).
• Capability to export and import data in multiple formats (e.g., excel, csv, API connections).
• Real-time tracking of employee enrollments with reporting dashboards.
• Ability to flag incomplete enrollments and send automated reminders.
• Customizable reporting with ad hoc query capability.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: July 18, 2025