The purpose of the Request for Proposal (RFP) is to solicit sealed proposals to establish a contract through competitive negotiations for the procurement of a Broker of Record for Employee Health Insurance. The Proposer must be registered with the Office of the Superintendent of Insurance, with a line of authority for Accident and Health, or Sickness, Life. The Proposer must be knowledgeable in negotiating fees with insurance vendors, skilled at developing, analyzing, and interpreting a variety of data and management reports. Must be able to provide clear, concise trend analysis and shall have a demonstrated history with the ability to provide accurate and timely responses. The City will expect the Proposer to evaluate any submitted health, dental, prescription drug and vision employee insurance plans and provide a written analysis within 30 days of receipt of the information and provide the following services: Serve the City as an advisor regarding and including the preparation of the City's RFP for a health insurance plan; Assist the City in creating and maintaining a competitive (cost & plan design) benefit program, and provide benchmark data from like entities; Review of benefit design and utilization; Claims analysis including review of large claims; Review of benefits cost for employees and the City; Provide funding analysis, financial underwriting, including renewal analysis and negotiation, budget projections, and quarterly reporting of a plan's financial performance; to include other insurance programs; Evaluate plan design annually, or as required, in light of labor market conditions, cost trends, delivery systems and legal requirements; Annually analyze, compare and review fully insured vs. self-insured plans/options; Annually review and calculate equivalent rates for each coverage level of the health plan Assist in developing long-term strategies and future proposed benefit plans; Obtain necessary monthly, quarterly and annual reports and data from carriers and/or thirdparty administrators in a timely manner; Assist the City in preparing periodic reports to the City Council, City Administrator or Human Resources Director on the progress, applicability, and overall benefit of a specific plan; Review and monitor vendors, carriers and/or third-party administrators’ quality of service, performance and institute quality standards with penalties for poor performance; Provide information/education/training to City staff related to benefit implementation and administration when requested; and
