Posted Date : March 07,2022
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-5464
Government Authority located in Little Rock, Arkansas; USA based organization looking for expert vendor for benefits brokerage and consulting service.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide benefits brokerage and consulting service related to the implementation, analysis, maintenance, improvement, and communication of an employee insurance benefits program to the government authority located in Little Rock, AR.
1. Employer-sponsored benefits
• Self-Insured health benefit plans
• Prescription benefits
• Vision plan
• Dental plan
• Wellness program
• Administration and guidance in the areas of health savings accounts (HSA) and flexible spending accounts
• Administration and guidance for COBRA, HIPAA, health insurance marketplace, retiree benefits, and Medicare as required
• Employee Assistant Programs (EAP)
• Life, AD&D, and short-term and long-term disability insurance
• Any others upon agency request
2. Employee-subsidized supplemental insurance benefits
• Additional life (whole and term)
• Supplemental plans such as cancer, intensive care, heart, hospitalization, accident, etc.
• Short-term disability buys up plans
• Any others upon agency request
- Analyze existing coverage, utilization, and identify or develop cost-saving alternative benefit strategies and plans.
- Provide, maintain, and update comparison reports of other public and private companies’ benefit plan offerings and costs to determine their competitiveness with programs.
- Analyze insurance proposals and present the results of such analysis to the appropriate parties.
- Analyze claims experience and financial development for all insurance coverages and present the results of such analysis to the appropriate parties.
- Serve as designated insurance broker of record.
- Evaluate bids and bidders, including administration, claim payment procedures, customer service, network, reserve establishment policies, financial soundness, and identify the most cost-beneficial package from among the various bidders.
- Evaluate the participation in applicable insurance pools and self-funded options as well as fully insured models with all available carriers.
- Review and make cost-saving recommendations regarding the modification of plan design, benefit levels, premiums, communications, and quality of current employee benefit plans.
- Provide Human Resources in writing, preferably during a review meeting, the broker’s best estimate of the expected premium for the upcoming placement renewal by September 15 each year.
- Review contracts with providers for accuracy in rates, benefits, eligibility, and coverage definitions.
- Assist in the development and implementation of the employee “wellness” concept with the goal of improving employee health and reduce employee and retiree health-care costs, both in the short-term and in the long-term.
- Assist with the implementation, transitioning of carriers and administrators.
- Alert and assist in complying with legislative mandates related to employee benefits by ensuring that programs are in compliance with local, state, and federal legislation.
- Maintain positive insurer relations.
- Work with the human resources department to determine a strategy that meets the needs of all employees for benefits education.
- Provide on-site training to staff, as needed, regarding regulatory updates and best practice seminars for the effective administration of benefits plans. Assist with development and design of year-round informational materials including annual employee meetings, flyers, etc. to provide optimal communication to employees.
- Assist with all issues dealing with member customer service, including, but not limited to, eligibility and enrollment related matters, education for newly eligible members, communication, and educations to insurance representatives, administering claims submittals in a manner best representing the interests of the member, and auditing claims handling.
(2) All questions must be submitted no later than March 23, 2022.
(3) Contract term will be two years.
[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: March 31,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : ESTATE-5464
Government Authority located in Little Rock, Arkansas; USA based organization looking for expert vendor for benefits brokerage and consulting service.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide benefits brokerage and consulting service related to the implementation, analysis, maintenance, improvement, and communication of an employee insurance benefits program to the government authority located in Little Rock, AR.
1. Employer-sponsored benefits
• Self-Insured health benefit plans
• Prescription benefits
• Vision plan
• Dental plan
• Wellness program
• Administration and guidance in the areas of health savings accounts (HSA) and flexible spending accounts
• Administration and guidance for COBRA, HIPAA, health insurance marketplace, retiree benefits, and Medicare as required
• Employee Assistant Programs (EAP)
• Life, AD&D, and short-term and long-term disability insurance
• Any others upon agency request
2. Employee-subsidized supplemental insurance benefits
• Additional life (whole and term)
• Supplemental plans such as cancer, intensive care, heart, hospitalization, accident, etc.
• Short-term disability buys up plans
• Any others upon agency request
- Analyze existing coverage, utilization, and identify or develop cost-saving alternative benefit strategies and plans.
- Provide, maintain, and update comparison reports of other public and private companies’ benefit plan offerings and costs to determine their competitiveness with programs.
- Analyze insurance proposals and present the results of such analysis to the appropriate parties.
- Analyze claims experience and financial development for all insurance coverages and present the results of such analysis to the appropriate parties.
- Serve as designated insurance broker of record.
- Evaluate bids and bidders, including administration, claim payment procedures, customer service, network, reserve establishment policies, financial soundness, and identify the most cost-beneficial package from among the various bidders.
- Evaluate the participation in applicable insurance pools and self-funded options as well as fully insured models with all available carriers.
- Review and make cost-saving recommendations regarding the modification of plan design, benefit levels, premiums, communications, and quality of current employee benefit plans.
- Provide Human Resources in writing, preferably during a review meeting, the broker’s best estimate of the expected premium for the upcoming placement renewal by September 15 each year.
- Review contracts with providers for accuracy in rates, benefits, eligibility, and coverage definitions.
- Assist in the development and implementation of the employee “wellness” concept with the goal of improving employee health and reduce employee and retiree health-care costs, both in the short-term and in the long-term.
- Assist with the implementation, transitioning of carriers and administrators.
- Alert and assist in complying with legislative mandates related to employee benefits by ensuring that programs are in compliance with local, state, and federal legislation.
- Maintain positive insurer relations.
- Work with the human resources department to determine a strategy that meets the needs of all employees for benefits education.
- Provide on-site training to staff, as needed, regarding regulatory updates and best practice seminars for the effective administration of benefits plans. Assist with development and design of year-round informational materials including annual employee meetings, flyers, etc. to provide optimal communication to employees.
- Assist with all issues dealing with member customer service, including, but not limited to, eligibility and enrollment related matters, education for newly eligible members, communication, and educations to insurance representatives, administering claims submittals in a manner best representing the interests of the member, and auditing claims handling.
(2) All questions must be submitted no later than March 23, 2022.
(3) Contract term will be two years.
[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: March 31,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$