Posted Date : March 15,2022
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-5490
Government Authority located in Las Vegas, Nevada; USA based organization looking for expert vendor for employee benefits broker consulting services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide employee benefits broker consulting services to perform the full range of services related to the design, implementation, maintenance, communication, and improvement of the city’s group insurance programs to the government authority located in Las Vegas, NV.
- Assist the city in administering all group insurance plans, responding to questions from and providing information to staff, and providing other consulting services during the course of the plan year.
- Serve as designated insurance broker of record for benefit programs.
- Interface with the city’s human resources department, and engage in minimal contact as-needed with city employees.
- Research any new developments in the law and employee benefit programs on an ongoing basis and assist city in complying with laws and regulations related to employee benefits.
- Review claims experience, claim service, and claim administration to ensure maximum benefit to the city.
- Determine and recommend the most economical funding methods for the benefit programs and strike a balance between cost and comprehensiveness of the programs. Advise and assist the city in evaluating and selecting among coverage alternatives such as plan coverages, deductibles, co-payments, co-insurance, etc.
- As requested, prepare bid specifications and solicit proposals from insurance markets which specialize in group insurance plans. Evaluate bids and bidders, including administration, coverage, claim payment procedures, customer service, networks, reserve establishment policies, financial soundness, and identify the most cost beneficial package from among the various bidders.
- Analyze insurance proposals regarding appropriateness of coverage, maximizing plan effectiveness, minimizing plan cost, identifying alternative plan structures and presenting the results of such analysis to the appropriate parties. Advise the city on potential gaps or overlaps in coverage.
- Develop a solicitation and negotiation strategy and participate with the city in all negotiations with providers on all issues including those related to premiums, benefit levels, plan design, and special terms and conditions.
- Meet and provide reports to various city representatives including human resources and finance. analyze claims history and insurance utilization at least quarterly.
- Assist with the implementation, transitioning of carriers and administrators.
- Assist with the implementation and communication of new programs or changes to existing programs, which will include preparing information for open enrollment meetings and to our management as well as city council. The firm does not need to be directly involved in general employee meetings.
- Assist in developing actuarial valuations for GASB. An actuary study must be conducted annually for GASB to determine GASB liability for retiree coverage.
- Represent the City and its interests in interfacing with insurance carriers and contracted plan administrators as needed to assist in the resolution of problems associated with benefit programs.
- Audit contracts for accuracy of coverage, term and conditions. Review all insurance, Benefit and administrative service documents for accuracy and adherence to prior agreements (but not perform a legal review).
- Assisting in determining specifications for future insurance coverage. Assist with setting up the renewals timing schedule annually. Assist with writing, reviewing, analyzing, and presenting Requests for Proposals during renewals. Provide side-by side reporting for review. Prepare and review and advise on contract renewals.
- Negotiate all insurance renewals, including meeting directly with insurance company underwriters and place insurance as directed.
- Review contracts with providers for accuracy in rates, benefits, eligibility, and coverage definitions ensuring contract compliance.
- Review summary plan descriptions developed by the city’s insurance providers.
- As needed, act as city’s liaison with benefit providers.
- Prepare annual reports, in any reasonable format requested in advance by the city, for each line of coverage, analyzing financial developments, network utilization, insurer cost structures, etc., and make recommendations regarding plan redesign or alternative structures, changes, modifications and benefit enhancements. Assist with benefit plan design to contain cost and maximize benefit effectiveness.
- Collect issues of interest regarding insurance status or developments for city benefit administrators, prepare financial reports, interpret carrier reports, follow-up with carriers, and serve as a benefit resource for the city.
- Assist with budget projections on future costs of benefit programs.
- The Broker must maintain an office with staff adequate to service the benefits pr
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: April 13,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-5490
Government Authority located in Las Vegas, Nevada; USA based organization looking for expert vendor for employee benefits broker consulting services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide employee benefits broker consulting services to perform the full range of services related to the design, implementation, maintenance, communication, and improvement of the city’s group insurance programs to the government authority located in Las Vegas, NV.
- Assist the city in administering all group insurance plans, responding to questions from and providing information to staff, and providing other consulting services during the course of the plan year.
- Serve as designated insurance broker of record for benefit programs.
- Interface with the city’s human resources department, and engage in minimal contact as-needed with city employees.
- Research any new developments in the law and employee benefit programs on an ongoing basis and assist city in complying with laws and regulations related to employee benefits.
- Review claims experience, claim service, and claim administration to ensure maximum benefit to the city.
- Determine and recommend the most economical funding methods for the benefit programs and strike a balance between cost and comprehensiveness of the programs. Advise and assist the city in evaluating and selecting among coverage alternatives such as plan coverages, deductibles, co-payments, co-insurance, etc.
- As requested, prepare bid specifications and solicit proposals from insurance markets which specialize in group insurance plans. Evaluate bids and bidders, including administration, coverage, claim payment procedures, customer service, networks, reserve establishment policies, financial soundness, and identify the most cost beneficial package from among the various bidders.
- Analyze insurance proposals regarding appropriateness of coverage, maximizing plan effectiveness, minimizing plan cost, identifying alternative plan structures and presenting the results of such analysis to the appropriate parties. Advise the city on potential gaps or overlaps in coverage.
- Develop a solicitation and negotiation strategy and participate with the city in all negotiations with providers on all issues including those related to premiums, benefit levels, plan design, and special terms and conditions.
- Meet and provide reports to various city representatives including human resources and finance. analyze claims history and insurance utilization at least quarterly.
- Assist with the implementation, transitioning of carriers and administrators.
- Assist with the implementation and communication of new programs or changes to existing programs, which will include preparing information for open enrollment meetings and to our management as well as city council. The firm does not need to be directly involved in general employee meetings.
- Assist in developing actuarial valuations for GASB. An actuary study must be conducted annually for GASB to determine GASB liability for retiree coverage.
- Represent the City and its interests in interfacing with insurance carriers and contracted plan administrators as needed to assist in the resolution of problems associated with benefit programs.
- Audit contracts for accuracy of coverage, term and conditions. Review all insurance, Benefit and administrative service documents for accuracy and adherence to prior agreements (but not perform a legal review).
- Assisting in determining specifications for future insurance coverage. Assist with setting up the renewals timing schedule annually. Assist with writing, reviewing, analyzing, and presenting Requests for Proposals during renewals. Provide side-by side reporting for review. Prepare and review and advise on contract renewals.
- Negotiate all insurance renewals, including meeting directly with insurance company underwriters and place insurance as directed.
- Review contracts with providers for accuracy in rates, benefits, eligibility, and coverage definitions ensuring contract compliance.
- Review summary plan descriptions developed by the city’s insurance providers.
- As needed, act as city’s liaison with benefit providers.
- Prepare annual reports, in any reasonable format requested in advance by the city, for each line of coverage, analyzing financial developments, network utilization, insurer cost structures, etc., and make recommendations regarding plan redesign or alternative structures, changes, modifications and benefit enhancements. Assist with benefit plan design to contain cost and maximize benefit effectiveness.
- Collect issues of interest regarding insurance status or developments for city benefit administrators, prepare financial reports, interpret carrier reports, follow-up with carriers, and serve as a benefit resource for the city.
- Assist with budget projections on future costs of benefit programs.
- The Broker must maintain an office with staff adequate to service the benefits pr
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: April 13,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$