The Benefit Broker (Broker) will provide services, and otherwise do all things necessary for or incidental to the performance of work, as set forth below: Company/ Personnel qualifications: Broker must: 1. Be licensed to do business in the state of Washington; 2. Have at least five years in business as a licensed benefit Broker; and 3. Have experience conducting HIPAA Privacy and Security Gap Analysis. Strategic Consulting and Negotiations: Annual Renewals: 1. Negotiate annual plan renewals for all employee health and welfare plans to include stop loss insurance; 2. Provide a complete in person year-end reconciled financial review; 3. Conduct actuarial analysis of claims reserves and funds requirements; and 4. Prepare alternative funding analysis as requested. Market Studies: 1. Provide market analysis, best practices and benchmarking services; 2. Prepare bid specifications and solicit proposals from benefit vendors and insurance carriers (Vendors). The Port and NWSA review each Vendor approximately every three years; 3. Evaluate and present a summary of Vendor bids; and 4. Assist with the development of Vendor performance guarantees
