Specifications include, but are not limited to: Task 1 Provide Village access to insurance marketplace and market rates. A.) Establish an annual insurance renewal process and timeline. Update Village management when there are changes in the agreed upon timeline. Renewal process should be for the following insurance benefits: health, dental, vision, and flex spending accounts. B.) Work with Village management in a comprehensive, proactive, and professional manner to formulate goals, strategy, and objectives for insurance quotes and renewal. C.) Formulating reports and underwriting submissions to send out to carriers for quotes and renewal. Seek assistance from the Village for necessary information to complete reports and underwriting. D.) Access all insurance carriers in an attempt to receive the best quotes and rates possible. E.) Solicit initial marketing and renewal indications from carriers annually. Confirm indications from current insurance carriers by August and initial estimates on insurance quotes by September/October. F.) Present and provide all quotes and rates in reports to Village management when instructed. Village of Shorewood – Insurance Benefits Broker – 2024 2 G.) Provide guidance to the Village on the selection of insurance policies, such as acceptable limits, coverages, deductibles, co-payments, etc. H.) Negotiate on behalf of the Village directly with carriers to secure any requested amendments to original proposals. I.) Present any significant insurance policy or coverage changes to Village Board for consideration. Task 2 Offer administrative and consulting support related to the Village’s insurance benefit program. A.) Provide quarterly reports to Village management demonstrating the usage, claim types, loss-claim ratio, and other significant metrics related to the Village’s insurance benefits. B.) Oversight/consultation of the Village’s wellness program and include recommendations on ways to improve the wellness scorecard (see Attachment A). C.) Assist in the open enrollment process by presenting at an open enrollment session for employees. Once the Village collects all of the open enrollment paperwork, assist the Village in providing the open enrollment information to the insurance carrier. D.) Respond to Village inquiries related to usage and rates of the Village’s health, dental, vision, and other insurance benefit programs. Inquiries may also refer to other benefit-related programs such as implementation of the ACA reporting, FMLA administration, benefit eligibility, etc. Some inquiries may be directly from employees. E.) Update benefit-related documents and paperwork per request from the Village (i.e. annual summary of Village benefits packet). F.) As needed, attend meetings with Village management to review benefits usage/trends and provide frequent updates on the insurance renewal process. G.) Keep the Village advised of programs and initiatives to reduce the risk, liability, and costs related to insurance based on best practices.
