The Vendor is required to provide a financial avenue to help employees with building a pre-tax spending account, while also serving as a flexible tool for delivering benefits.
- A benefit account consultant will support the port in the effective administration and design of these programs, while providing integrated technology solutions that help employees understand and utilize the various components as part of their total rewards package.
- The port requires a consultant to help administer the current benefit accounts (flexible spending account (FSA), health savings account (HSA), and lifestyle spending account (LSA)) and possibly provide other benefit account solutions that can provide a supportive partnership and a robust technology solution for port employees.
- FSA, HSA, and LSA Administration Services
• Provide full-service administration of the port's benefit accounts, which include, but is not limited to, healthcare FSA, limited-purpose healthcare FSA, dependent care FSA, healthcare savings, and lifestyle accounts.
• Perform record keeping and administrative services in connection with the port's plans.
• A dedicated team will be assigned to the port for account management.
• This support may include providing technical issues and communicating with members to resolve issues.
• Maintain up-to-date enrollment based on the port's monthly reporting of any enrollment changes by electronic file.
• Coordinate services with and provide information, file integration, and contribution data needed by the HSA trustee/custodian to enable administration and record keeping of participants' accounts, and for proper payment of claims.
• Timely notify the port when contribution funding is to be remitted.
• Upload and post contribution files after port payroll contributions are transmitted.
• Administer and coordinate limited-purpose healthcare FSAS for HSA enrollees who are high deductible health plan (HDHP) members that satisfy the HDHP deductible and become eligible for transition to a regular FSA.
• Upload and post contribution files for the various accounts within one (1) business day from receiving funding.
• Maintain and reconcile the funding account(s).
• Receive and process claims made by participants for applicable benefit accounts within agreed upon timeframe.
• Provide communication support and materials in advance of open enrollment, including on-site presentations or attendance at health fairs, at least twice per year for employees, if requested to do so.
• If requested, provide benefit account plan documents and update the document as needed.
• Provide HSA materials and forms for participants and the port, including HSA applications and information brochures that are required by the custodian/trustee, via a website for download.
- Contract Period/Term: 5 years
- Pre-Proposal Meeting Date: May 08, 2025
- Questions/Inquires Deadline: May 13, 2025