Description
The City of Rocky Mount is seeking a qualified insurance professional to provide consulting services for its employee benefits program. The selected vendor will be responsible for reviewing and advising on insurance coverage, marketing and placement of insurance, reviewing vendor contracts, coordinating with other benefits service providers, and participating in management benefits committee meetings. The vendor will also be required to develop and produce communication materials, perform actuarial services, and provide transition assistance if the contract is not renewed. The City's employee benefits program includes group medical, dental, vision, life insurance, and a defined benefit retirement plan. The City is looking for a vendor with experience in providing employee benefits insurance broker and consulting services, particularly to government or public sector clients. The vendor should have a strong understanding of the City's objectives and requirements and be able to demonstrate their ability to meet those requirements.
Some key points to consider:
• The City has a total of 766 full-time employees, 364 part-time employees, and approximately 120 pre-65 retirees who are allowed to remain on the City's plan until they reach age 65 or become eligible for Medicare.
• The City's medical insurance is currently administered by Aetna Inc. and is a self-insured POS plan.
• The City is seeking a vendor who can provide a comprehensive range of services, including insurance brokerage, consulting, and actuarial services.
• The vendor will be required to provide an annual total fixed flat fee for completing all requirements outlined in the scope of work.
• The vendor will be evaluated based on their firm qualifications, experience, and references, as well as their staffing and project organization, work plan and technical approach, and ongoing service, compliance, and reporting.