Benefits Insurance Broker Services

The Vendor is required to provide employee benefits brokerage and consulting services.
- Contributes to the total cost of premiums each month for all full-time employees electing medical, dental, and life insurance.
•    Medical/RX Insurance: Eligible employees have the option to choose from three medical plans.
•    Medical HSA and FSA Accounts: Eligible employees have the option to enroll in spending accounts for medical expenses and/or dependent care.
•    Dental Insurance: One dental plan option is available to eligible employees.
•    Vision Insurance: One vision plan option is available to eligible employees.
•    Voluntary Life Insurance: Eligible employees have the option to supplement the company provided life insurance with additional coverage.
•    Life Insurance and AD&D: Eligible employees receive a life insurance policy of $10,000, with optional additional coverage available for employees, spouses, and children.
•    Short Term Disability: Statutory and supplemental disability benefits are available to eligible employees.
•    Long Term Disability: Supplemental long term disability benefits are available to eligible employees.
•    Wellness Program: A wellness program is offered through agency medical provider.
•    Ancillary Benefits: Accident and Critical Care Insurance are offered at the employee’s expense.
- Analysis and Reporting
•    Benefit Package Review: Analyze agency current employee benefits and develop a cost-saving strategy offering comparable or better coverage.
•    Cost-Saving Strategies: Identify opportunities for savings while maintaining or improving employee benefit offerings.
•    Utilization Review: Analyze plan data and make recommendations for improvements based on plan utilization.
•    Benchmarking: Compare agency benefits offerings with other similar transit agencies or public sector organizations to ensure competitiveness.
•    Emerging Trends: Keep agency informed of emerging trends in employee benefits and provide recommendations for adaptation.
•    Reports & Presentations: Prepare and present detailed reports on cost analysis, utilization, forecasting, and trend identification.
•    Claims Reporting: Obtain and summarize monthly, quarterly, and annual claims reports from carriers (if applicable).
•    COBRA Administration: Support COBRA compliance and coordinate with agency COBRA administrator.
•    ACA Compliance: Aid with preparation of ACA reports and offer recommendations to comply with ACA regulations.
•    Record Keeping: Maintain accurate records and documents for all services related to agency benefits programs.
- Communication and Problem Solving
•    Performance Monitoring: Monitor carrier performance and report service issues to agency.
•    Liaison Role: Act as a liaison between agency and its benefit providers to resolve issues and concerns promptly.
•    Employee Assistance: Provide consultation on benefit plan interpretation, claims, billing, and eligibility.
•    Dispute Resolution: Assist in resolving benefit-related issues with carriers, including escalations through carrier resolution channels.
•    Employee Education: Develop and distribute materials to educate employees and retirees on the benefits programs.