Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
NOVEMBER 17, 2021
Subject
SUBJECT: HEALTH BENEFITS CONSULTING SERVICES
Action
ACTION: APPROVE CONTRACT AWARD
Heading
RECOMMENDATION
Title
AUTHORIZE the Chief Executive Officer to award a seven-year, firm fixed price Contract No. PS41236000, to The Unisource Group, Inc. to provide employee health benefits consulting and actuarial services in the amount of $781,000 for the three-year base period, $265,950 for option year one, $240,600 for option year two, $265,950 for option year three and $240,600 for option year four, for a combined amount of $1,794,100, effective February 1, 2022, subject to resolution of protest(s), if any.
Issue
ISSUE
The existing contract for Health Benefits Consulting Services will expire on January 31, 2022. To ensure continuity of services a new contract is required effective February 1, 2022.
Background
BACKGROUND
Our health insurance plans are part of the total compensation package that helps attract and retain qualified employees and provide existing employees a foundation to maintain or improve health. Metro utilizes the services of a Benefits Consultant to ensure we receive the best value for the benefit dollars spent.
Discussion
DISCUSSION
The health benefits consulting firm will provide additional expertise to help Metro conduct program assessment and benchmarking, develop strategy and plan design, provide financial and actuarial modeling, assist with carrier selection and negotiation, monitor program performance, develop employee communications, and assist with further development of wellness program opportunities. The consulting firm provides broad industry experience and deep subject matter expertise. The Unisource Group, Inc. and its sub consultant, Alliant Employee Benefits, have an extensive client base that gives them keen insight into the costs of benefits and emerging strategies that work for public sector employers.
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