The vendor is required to provide for an insurance agent and broker who will handle the placement and servicing of its “insurance program” which includes both its health insurance and benefits.
- The products that the broker will deliver to agency must include but are not limited to the following:
a. Solicitation and evaluation of bids
• Prepare bid specifications and solicit proposals, as needed, from insurance markets that specialize in group insurance plans.
• Evaluate bids and bidders, including administration, coverage, claim payment procedures, customer service, networks, reserve establishment policies and financial solvency.
• Provide agency with in-depth analysis of proposed alternatives and assist with the process of selecting the most favorable annual renewal options.
b. Evaluate and recommend plan design structure
• Determine and recommend the most cost-efficient funding methods for benefit programs.
• Recommend innovative ideas and new products, programs and services to ensure a competitive, valued and cost-effective benefits program.
• Introduce proven programs and ideas to aggressively manage healthcare costs.
• Identify strategies to increase employee engagement and understanding of health and benefit offerings, promoting informed decision-making and improved utilization.
c. Analyze plan experience
• Review and analyze claims experience, claim services, and claims administration to ensure maximum benefit to agency.
d. New benefit plan implementation
• Assist agency with the implementation and communication of new programs or changes to existing programs, which may include attending and presenting information at open enrollment and wellness meetings when requested.
• Work closely with agency benefits representative to develop and execute the benefits communications strategy.
e. Trusted advisor to agency on all benefits matters
• Update agency of local and national benefit trends and provide benchmark survey data to help calibrate program offerings with employee and employer costs compared to similar organizations.
• Meet with and provide reports and presentations to agency representatives, including the board of executives, if requested.
• Partner with agency to effectively manage the vendors that provide insurance or related services for the agency.
• Advise on issues such as cobra, HIPAA, medicare, FMLA, wellness programs, etc.
• Provide overall guidance to agency with health and welfare regulatory compliance and compliance reporting.
• Research and report new developments in the employee benefits arena on an ongoing basis.
• Educate and advise on healthcare reform.
• Provide support to agency employees with claim questions and questions about the benefit plans.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: May 05, 2025