Insurance Broker and Actuarial Services

The Town of Palm Beach sought proposals from qualified firms to provide Insurance Broker and Actuarial Services. The selected vendor, The Gehring Group, Inc., will provide consulting and advisory services related to the town's benefits program, including plan design analysis, actuarial services, and compliance with relevant laws and regulations. The contract has a term of three years, with an option to extend for two additional one-year terms. The vendor will be compensated through a fixed annual flat fee and additional compensation in the form of commissions. The contract includes provisions for confidentiality, data security, and compliance with HIPAA. Key aspects of the contract include: • Providing insurance broker and actuarial services to the Town of Palm Beach • Conducting plan design analysis and actuarial services for the town's benefits program • Ensuring compliance with relevant laws and regulations, including HIPAA • Providing consulting and advisory services related to the town's benefits program • Receiving compensation through a fixed annual flat fee and additional compensation in the form of commissions • Maintaining confidentiality and data security in accordance with HIPAA and other relevant laws and regulations • Providing quarterly insurance coverage plan analysis and assisting with planning and implementation of employee benefits • Negotiating renewal rates and plan provisions • Providing updates and pro-active action plans necessary to implement any legally required plan changes • Assisting with wellness initiatives and providing assistance in the coordination and development of employee wellness programs