Specifications include, but are not limited to: A. Analysis and Reporting 1. Analyze existing coverage and identify or develop cost ‐ saving alternative benefit strategies and plans. 2. Assist in the development of long‐range goals and strategies, including making projections of potential savings. 3. Provide actuarial analysis and recommendations based on utilization and performance reports, statistical and/or financial reports, and plan specific data. 4. Assist the City in monitoring and analyzing experience trends and providing timely alerts on changing patterns and appropriate recommendations. 5. Provide, maintain, and update comparison reports of other similar sized public entities' benefit plan offerings and costs to determine their competitiveness with the City's programs. 6. Provide COBRA administration through a vendor. 7. Provide financial and/or performance reviews of fully insured plans and programs. 8. Be available to provide various types of reports as needed, such as costs analysis for benefit changes, and other statistical, financial, forecasting, trend, or experience reports. 9. Assist in preparing overall employee insurance fund budget and projections. 10. Prepare and present reports on trends, new products and audits, as requested. 11. Regularly monitor and evaluate performance measures and guarantees of providers. 12. Provide monthly claim updates and perform quarterly reviews of such. 13. Maintain full and accurate records with respect to all matters and services provided on behalf of the City's benefit plans and programs. Provide City staff or officials all spreadsheets, assumptions and calculations upon completion of any project performed on behalf of the City's benefit plans and programs. 14. Assist with data collection, informational requests for GASB 75 valuations and provide strategic recommendations to mitigate liability. 15. Provide impact analysis, plan options, and strategic recommendations with regard to PPACA. 16. Assist with preparation of yearly ACA reports.
