Bennie Insurance, LLC Brokerage and Technology Consulting Services

The services detailed below will be performed by Bennie, Bennie Insurance, LLC, Bennie Insurance Services (CA), Bennie Insurance Agency LLC (NY), or an affiliate of Bennie appropriately licensed as an insurance producer, broker or agent in the corresponding states for any insurance policy or policies for which Client has awarded Bennie or one of its affiliates with Broker of Record (“BOR”) designation.

A. Benefit Placement, Renewal, and Ongoing Evaluation

  • Assist in the review and renewal of carriers and administrators, plans and plan designs, insurance premiums, program communications and quality of current employee health and welfare insurance policies for which Client has awarded BOR.
  • Act in best interest of Client in all negotiations with benefit providers.
  • Where possible, provide estimates of anticipated renewal rates to enable proactive management of the benefits program.
  • Conduct market analysis using a combination of existing research and ad-hoc research for the purpose of making recommendations on benefit vendor selection and services provided.
  • Upon request, provide benchmark analysis of health and welfare plan offerings and costs to determine competitiveness of Client benefit plans.
  • Assist in the review and development of employee health and well-being programs, as needed.
  • Provide communication materials regarding the health benefit plans and support for the annual open enrollment period, new benefit offerings and/or changes to the existing health benefit plan offerings.
  • Provide support for annual open enrollment meeting, if requested.

B. Analysis and Reporting

  • Where possible and dependent on data available from benefit carriers and administrators, provide Client with review of employee utilization patterns, experience trends, and plan-specific data for the purpose of guiding benefit plan strategy.
  • Provide Client with financial modeling and experience reporting as needed, where available.
  • Provide Client with summary of all vendor proposals obtained on Client’s behalf, detailing proposal differences, assumptions, and cost calculations.

C. Client Advocacy & Plan Administration

  • Manage the ongoing administration of Client’s employee health and welfare plans.
  • Act as advocate between Client and health and welfare plan providers and represent Client’s best interest in any conversations with health and welfare plan providers.
  • Provide timely customer service and assistance to Client with ongoing service involving but not limited to interpretation of contract language, correction of provider billing issues, resolution of claims issues, and other general troubleshooting and problem resolution relating to benefit program operations.
  • Attend meetings with Client as requested.
  • Facilitate meetings between Client and benefits carrier or administrator representatives as requested.
  • Recommend and help develop enhancements and improvements for employee communications regarding the health benefit plans.
  • Recommend particular broker-sponsored seminars, benefit events and educational forums and roundtables, as available.

D. Compliance

  • Evaluate client benefit programs on ongoing basis to assist with compliance with state and federal laws, rules and regulations, including ERISA, HIPAA, and PPACA.
  • Provide information about applicable new or proposed laws, new rules and regulations, regulatory updates, and/or changes to best practices for the effective administration of health plans.
  • Assist with preparation of Form 5500s if applicable, including compilation of required schedules from insurance carriers and delivery of a signature-ready draft filing.
  • Provide education supporting Client compliance with mandated reporting and posting/notice requirements for health and welfare plans.

E. Benefits Technology Services

  • Evaluate Client’s benefit carriers, administrators, and plans in the context of its HR, benefits administration, and payroll technology to identify and recommend opportunities to improve efficiency in administration.
  • Assist with benefits technology implementation as needed, including configuration, testing, and QA of benefits once per year accompanying Open Enrollment & benefits renewal.
  • Partner with benefits administration firm to set up eligibility and enrollment connections, whether EDI-based, API-based, or other, on the construction of integrations for all carriers who will accept an integration, which can be dependent on but not limited to Client’s size, Client’s geography, and specific platform or platforms used by the chosen carrier. Note: Benefits placement and renewal consulting as described in Section A above will attempt to account for carrier technological capabilities when presenting recommendations; however, integration is not guaranteed.
  • Provide annual market update on the benefits technology landscape to accompany benefits planning and renewal strategy.