The vendor is required to provide employee benefit consultants with relevant experience, skills and resources to provide excellent customer service in the areas of designing and marketing benefit plans, selecting carriers, and implementing and administering plans.
• Benefits tendering as requested or required:
o Analyze our benefit plan
o Report findings
o Make recommendations
o Provide additional options (e.g., flexible benefits, optional eye care, etc.)
o Ongoing benefit booklet updates
o Annual rate renewal:
o Annual renewal report and analysis, including discussions and meeting with the college
o Exchange of information, negotiation and finalization of renewal rates with benefit and insurance carriers.
o Review benefits reserve accounts and advise the college as appropriate.
• As required, review insurance carrier contracts and financial letters of agreement.
• Negotiate plan changes with insurance carriers.
• Review annual financial reports and reconciliations provided by insurance carriers.
• Review experience information annually and provide comments and recommendations as appropriate.
• Advise the college about plan changes including associated financial liabilities and policy implications.
• Analyze benefit plans and report and present findings and recommendations.
• Respond to queries from college including, but not limited to:
o Interpretation of benefits and insurance policies
o Changes to benefit plans
o Assistance with resolving complex claims
o Assistance with benefits communications and strategy
o Potential benefit plan changes (e.g., during collective bargaining)
o Other queries, as required from time to time
• Provide notice and advice on relevant legislative changes or other benefits issues and trends through regular communications with the college.
• Provide quarterly reporting of activity and commissions.
- Contract Period/Term: 2 years