The vendor is required to provide the full range of employee benefit brokerage services related to the implementation, maintenance, communication, and improvement of its group benefit programs.
- Services to be included:
• Assistance with the development, design and planning of employee benefit programs, including strategic planning, benchmarking, and modeling to reduce risk and achieve cost efficiencies.
• Negotiate annual renewal of coverage from carriers for our benefit programs.
• Seek competitive quotes from benefit carriers and provide advice and recommendations to the benefits committee for consideration, which includes an insurance coverage’s alignment with the board’s mission, and values.
• Annual review of the following plans:
a. Medical benefits
b. Prescription drug
c. HSA administration
d. FSA administration
e. Virtual visits
f. COBRA administration
g. Supplemental insurance options (accident, cancer, hospital, etc.)
1. Dental
2. Vision
3. Employee assistance
4. Disability (short and long-term)
5. Life
6. 401k
7. New trends and options to reduce expenses.
• review policies and endorsements for accuracy and conformance with negotiated coverages.
• Ensure the timely issuance of policies and endorsements.
• Development of budget accrual rates as well as COBRA rates and employee cost sharing percentages/rates.
• Provide insurance provider/TPA intermediary and management support.
• Assist in administering all group insurance plans, responding to questions from and providing information to staff.
• Assist the board in complying with the employee benefit laws and regulations by providing proactive advice and guidance on new laws, regulations, and procedures, including health care reform requirements, plan audits, and benefits administration.
• Provide advice and guidance regarding the use of a benefits portal to facilitate the benefits education process, the enrollment process, beneficiary verification, and the offering of ancillary benefits.
• Provide recommendations regarding the selection of ancillary products that will complement the core benefits offered.
• Assist the board corporation with the implementation and communication of new programs or changes to existing programs by providing communication materials and meeting support.
• Follow up with insurance carriers for timely assistance of policies and endorsements placement coverage delivery binders prior to the expiration of the current policies.
• Conduct quarterly update meetings with the benefits team and the compensation committee to measure progress against our goals.
• Provide efficient and responsive delivery of services.
• Advocacy services for the board’s employees when handling claims issues benefit coverage and other issues with the various providers.
• Conduct an annual, on-site or virtual presentation on overview of benefits to board staff.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 14, 2025