The Vendor is required to provide to serve as a broker of record for the city for health, dental, life, vision, STD, ltd, employee assistance and the other supplemental programs for group health insurances.
- Serve as the city’s broker of record/consultant and provide such brokerage services to the city to ensure comprehensive and cost-effective benefits are included in the city’s benefits plans for selection by the city’s eligible employees and retirees.
- Assist the city in developing the most advantageous strategies in the areas of employee health and benefit compliance, costs, coverage and continuity.
- Present plan design recommendations that support the city’s benefits strategies and position the city to comply with federal, state and other regulatory requirements yearly.
- Provide quarterly plan review including, but not limited to, conducting medical audit claims, annual plan design evaluation, benchmarking trends, and state of the national and state-based marketplace, including a comparison public sector.
- Administer the city’s health and welfare plans, including setting reserves, reporting experience and projecting funding levels when applicable.
- Provide actuarial impacts to plan design changes.
- Meet with the city council if requested.
- Service existing insurance policies as necessary.
- This includes, but is not limited to, issuing certificates of insurance to provide evidence of coverage, promptly making policy changes and obtaining endorsements.
- Participate in city quarterly utilization claims review
- Assist the city in budget development by providing an estimate of expected insurance premiums and other costs for the upcoming fiscal year.
- This is usually due approximately 5 to 6 months prior to actual insurance renewals.
- Prepare insurance specifications, and on the basis of instructions from the city, solicit bids based on insurance specifications and submit bids to the city at least 30 days prior to expiration; such bids will include a comparative analysis of price, coverage and security with other competitive bids.
- Assist in the negotiation for other insurance coverages, as directed by the city.
- At the request of the city, submit to the city a report including the following:
• Schedule of all insurance in force, showing expiration dates, net and gross annual premiums, limits and deductibles/retentions.
• Detailed losses for each policy, both paid and reserved, summarized for the previous fiscal year and for a five-year period, segregated by cause.
• Schedule of trend and development factors for past losses.
• Assessment of current conditions of insurance market and outlook for market over next 12 months.
- Provide actuarial recommendations for plan funding and cost sharing.
- Provide guidance and information regarding compliance and options related to the medical plan and related wellness and health management programs.
- Provide ongoing advice on ERISA, COBRA, FMLA, and HIPAA reporting obligations, and other laws and regulations affecting city’s benefits plans as it relates to the insurance products within this proposal.
- Assist with the city’s reporting obligations, including but not limited to aca, section 125, and COBRA as it relates to the products within this proposal.
- Provide comprehensive services (traditional and web-based) necessary to enroll eligible employees and retirees in the city’s benefits plans.
- Propose and develop communication materials for employee education on current plan designs, plan modifications and consumer education.
- Provide comprehensive services necessary to serve as the city’s section 125 and voluntary benefits administrator, including enrollment support and election reconciliation.
- Provide key contact(s) to facilitate immediate access by the city to awarded firm for a speedy answer to questions and resolution to any challenges experienced by either party.
- Shall agree that all data exchanged between selected offeror, and the city or prospective customers belongs to the city and shall be accessible at any time during the life of the contract for no additional fee.
- Provide technical assistance to reduce the overall cost of providing these benefits through a variety of means including developing effective negotiations strategies to expeditiously reduce the absolute cost of health insurance benefits.
- Solicit and negotiate annual renewal of existing coverage including soliciting multiple or alternative response coverage.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: May 9, 2025