Employee Benefits Broker Services

The Vendor is required to provide insurance broker/consultant to provide brokerage and advisory services for the town’s employee health benefit plans.
- Services include:
•    Develop long- and short-term benefits strategies in concert with the town, board, and our consultant.
•    Deliver cost-effective solutions while ensuring compliance with state and federal requirements.
•    Provide comprehensive support in communications, administration, labor negotiations, and wellbeing.
•    Serve as a proactive advisor on market developments, plan stewardship, and cost-containment opportunities.
•    Maintain a direct, transparent partnership with carriers/administrators—ensuring the Town is not shielded from carrier communication or data (e.g., the Town may receive source claims data directly from the carrier, as well as from the broker).
- Financial and Underwriting Services
•    Renewal estimates by mid-December, with monthly updates through April.
•    Prospective budget and rate development.
•    Retrospective plan accounting.
•    Claim analysis, monthly reporting, and large-claim reporting (with confidentiality safeguards).
•    Employee contribution analysis.
•    Advise on stop-loss thresholds and attachment points.
•    Reserve analysis and actuarial reviews (as required).
•    Utilization and trend analysis (medical, Rx).
•    Conduct a medical claims audit at least once every four years.
•    Full disclosure of compensation tied to underwriting and renewals.
- Wellbeing and Voluntary Benefits
•    Assist in developing a well-being strategy, including incentives.
•    Provide materials/resources for wellness initiatives and fairs.
•    Evaluate voluntary benefits for appropriateness.
- Benchmarking and Stewardship
•    Benchmark plan design, costs, and contributions against regional, industry, and size-based databases.
•    Provide quarterly updates covering financial, compliance, and upcoming events.
•    Annual Stewardship Report including:
o    Complete accounting of fees/commissions
o    Market and regulatory updates
o    Risk exposure review
o    Retrospective and prospective recommendations

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: November 26, 2025