Employee Benefits Brokerage and Consulting Services

The Vendor is required to provide employee benefits brokerage and consulting services.
- The College offers a comprehensive benefits program including medical, dental, vision, retirement (403(b)), life, disability, and voluntary benefits.
- Plan Benchmarking
• To identify agency overall competitive position, use various benchmarking sources that provide detailed comparative information on plan design and financial norms from national benefit surveys. Develop a benchmarking report outlining key benefit features.
- Cost and Utilization Review
• Using data analytics, assist the Client in understanding the efficiency, effectiveness, and quality of health benefits by analyzing available claims, utilization, and demographic data. Facilitate an annual carrier meeting
- Strategy Development and Plan Management
• Create both short- and long-term strategies based on the outcomes of the components above.
• The strategy design will incorporate both basic and advanced approaches to managing agency benefits. Each proposed initiative will include financial impacts, as well as qualitative impacts on agency and its employees.
- The strategy will address opportunities related to:
• Balance of valued benefits and employer/employee affordability
• Cost management
• Plan design
• Product offerings
• Vendors
• Funding methodologies
• Cost sharing
• Health management improvement initiatives
• Financial Modeling
- Design/Funding Options
• Provide pricing alternatives for plan design or funding adjustments, if applicable budget development
• Develop and document next plan year fees and budget rates in agency preferred format for review
• Develop and document projected next plan year costs, including total, employer, and employee costs
• Provide a point-in-time ACA affordability review
• Provide a compliance wellness incentive review.