Professional Employee Benefit Consultant Services

The vendor is required to provide to conduct a search for a highly qualified benefit consultant or consulting group to assist with management of our current plans and exploring a possible transition from current health plan structure to a self-funded or dividend eligible structure.
- The services of the consultant and consulting group will include the following:
• Year one – marketing, evaluating and possible implementation of self-funded or dividend eligible medical, prescription and dental plans, with the possibility of including vision
• Possible renewals for years two through four
o If university moves to a self-funded or dividend eligible structure for benefits, consulting services will include if university does not move to a new structure for benefits, consulting services will include ongoing evaluation and management of the existing plans, including strategic planning, claims reviews, renewals and negotiations, plan compliance, communication of plan changes as applicable and financial analysis.
- Strategic planning
• Partner with university to develop a forward-looking strategic benefit plan that delivers value to employees and their families, supports the university culture while considering cost-value measurements.
• Strategy should include assessment of the current benefit offerings for both active employees and retirees, or proposed plan designs if decision is made to become self-funded; evaluation of plan design, claims data, financial impact and funding structure, and recommendations to the plan design and funding based on analysis of university data, industry benchmarks, and performance data.
- Plan design & analysis
• Assist university in designing competitive and cost-effective insurance plans that provide a variety of coverage options for employees and their families.
• If a decision is made to transition from existing plans to self-funded plan, recommendation for possible plans and the communication strategy needed for successful implementation.
- Compliance
• Assist university with contract negotiations and renewals.
• Review contracts, plan documents, insurance policies, and other documents for applicability, accuracy, consistency, and compliance and make recommendations for changes to university.
• Assist with ensuring compliance with affordable care act changes in the next 3-5 years.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 09, 2025