RFP_HR_ Benefits Consulting & Actuarial Services

2026-11-03

SCOPE OF SERVICES This document provides a general description of the ongoing services to be provided by the Consultant , followed by questions for the consultant to answer in its proposal . The contents of this document are considered representative of consulting services to be provided but are by no means conclusive . The Consultant will provide advice and other services to assist the City in providing competitive and costeffective health and welfare benefits . These services will include assistance in establishing short - and longterm benefits and wellness strategies , managing plan finances including rate setting , renewals , actuarial and claims analysis , marketing for existing benefits and new lines of coverage , and increasing employee benefit knowledge and engagement . The Consultant must agree to actively participate in monthly meetings of the Benefits Subcommittee of the Citywide Labor Management Committee ( the BLMC ) and participate in the labor negotiations strategy for benefits . 1 . Strategy and Plan Design Consultant will : • Facilitate bi - annual strategic planning meetings involving key decision makers and stakeholders . The strategic planning session ( s ) will : • Focus on long - term benefit goals related to overall business objectives , contribution strategy , current programs , benefit offerings , wellness strategy and next steps for the City ' s benefits plans . • Provide the City with updated benchmarking information on benefit programs and costs , compared to other public sector jurisdictions in Minnesota . • Utilize health benefit models ( medical / pharmacy , dental , admin fee database , geographic cost factors , and long - term health care trend ). All health benefit models will be tailored to the City ' s needs , designed to accommodate detailed City data for numerous types of analytical projects , and updated annually with current unit cost and / or utilization databases . • Provide collective bargaining support including assisting the City during collective bargaining and ongoing labor relations including but not limited to : plan design recommendations and actuarial modeling , cost projections , regulatory compliance , market trends , etc . 2 . Account Management Consultant will : • Provide input in renewals , new contracts and performance guarantees for all vendors providing health and wellness benefits for the City . • Develop request for proposals / information and assist with placement of benefits vendors in the most efficient and cost - effective manner . • Review and edit technical language in service agreements and contracts . • Account team must include a FSA or experienced ASA and the City prefers a CEBS and licensed insurance producer as well . 3 . Financial Management Consultant will : • Provide rate models for all plans consistent with the goals , objectives , timelines , and policies of the City , including " best estimate " full - cost accrual rates for the upcoming plan year and multi - year projections for as multiple years to meet the City ' s needs . • Produce an actuarial rate development model which analyzes data and projects estimates across the following elements and domains : • Claims data - ensure that any changes in covered services , changes in benefit plan or claims anomalies are accounted for with a specific adjustment as well as quantify IBNR from encounter data . • Enrollment - quantify any changes in enrollment and adjust for any potential consequences of the enrollment changes . • Expenses - detailed projections for each expense item . • Other sources - State or Federal programs , reinsurance , reserve building / spending , etc . • Trend - Trend assumptions and sources will be documented , and trends generated for each component of trend , and where necessary , for different segments of the population . • Plan option - projections will be completed for each individual plan as well as on an aggregated basis . • Assist the City in answering any and all rate - related questions and perform any other duties as agreed upon by both parties required to support positive health plan performance . • Provide the City with technical assistance , data analysis , and litigation support related to benefit plans .

Minnesota

2026-05-13