Employee Benefits Consultings

Background

Miami-Dade County, represented by the People and Internal Operations Department (PIOD), Benefits and Employee Support Services Division, is seeking proposals from qualified firms to provide a range of actuarial and benefits consulting services to support the County’s Employee Benefits Program. The goal is to establish a strategic partnership that enhances the effectiveness and cost-efficiency of the benefits offered to employees, retirees, and their dependents.

Work Details

The selected firm will provide comprehensive consulting services including: 1. General Requirements: Independent consulting firm with senior-level staff including a Lead Consultant and certified Lead Actuary. 2. Financial and Actuarial Services: Evaluate actuarial soundness of self-funded medical plans, assist with regulatory compliance, prepare annual filings, conduct financial forecasting, analyze data from Third-Party Administrators, and provide recommendations for cost control measures. 3. Self-funded and Fully Insured Plans Performance Monitoring: Monitor performance compliance with contractual requirements, conduct annual claims audits, and secure necessary reports from Third-Party Administrators. 4. Federal, State and Local Compliance: Provide monitoring and interpretation of benefit regulations, ensuring compliance with laws such as PPACA and COBRA. 5. Development of RFPs: Assist in reviewing competitive RFPs, assessing vendor qualifications, and negotiating rates. 6. Retirement Services: Conduct benchmarking for fees, investment monitoring, fiduciary risk mitigation processes. 7. Strategy and Rate Renewals: Collaborate on strategic planning for employee benefits and analyze trends for future budgeting. 8. Reports and Analyses: Track claims activities, prepare presentations for stakeholders, and provide monthly reports on health plans.

Period of Performance

The contract is anticipated to be awarded for a seven-year period.

Place of Performance

Services will be performed primarily in Miami-Dade County, Florida.

Bidder Requirements

Proposers must be independent consulting firms not affiliated with any insurance company or third-party administrator. They should employ qualified staff including a certified Lead Actuary with experience in public sector group benefits. Proposers must comply with all local regulations regarding public entity crimes and must not be involved in any bankruptcy proceedings at the time of proposal submission.