Health Benefits Insurance Broker

The City of Bayonne is soliciting Request for Qualifications/Proposals (RFQ/RFP) from qualified Health Benefits Insurance Brokers to assist in managing its comprehensive health insurance plan. This pivotal professional service engagement includes reviewing and recommending cost-effective insurance plans, skillfully negotiating annual rate renewals with service providers, and preparing necessary bid specifications. The selected broker will also provide essential collective bargaining consulting, advise the City on group insurance grievances, furnish preliminary renewal figures for municipal budget processes, and deliver updates on state and federal legislative insurance changes. Furthermore, the scope of services encompasses ensuring compliance with COBRA, HIPAA, and CH. 375, managing ongoing employee enrollment additions and terminations, assisting with GASB 45 documentation, resolving employee claims issues, conducting employee benefit education sessions, and offering recommended cost projections for alternative benefit program designs. The contract period is set not to exceed one year, commencing from the contract date through December 31, 2024, with an exclusive one-year option for renewal at the City’s discretion, ensuring continuity and expertise in managing critical health benefit programs for City employees. Prospective Health Benefits Insurance Brokers must demonstrate robust qualifications, including holding a valid New Jersey licensed insurance agent or broker designation, coupled with demonstrated prior experience in the management of public entity health insurance accounts. Proposers are required to furnish detailed firm information, such as name and location, the number of years operating with New Jersey Public Entities, and the total count of employees dedicated to servicing group health insurance clients, specifically those licensed in life and medical authorities. Firms must highlight key employees assigned to the City of Bayonne account, provide a minimum of five current New Jersey Public Entity references for health and prescription insurance brokerage services, and outline their proposed account management strategy. Additionally, applicants must provide documentation for professional liability/malpractice insurance with limits acceptable to the City, ensuring adequate coverage for the services rendered. Submissions for this vital Health Benefits Insurance Broker RFP must include an original and three (3) copies of the proposal, addressed to City of Bayonne, Attn: John F. Coffey II, Law Director, at 630 Avenue C, Suite 15, Bayonne, NJ 07002. Each proposal must contain comprehensive details regarding the name, qualifications, and experience of the principal overseeing the relationship, as well as any assisting individuals, a complete fee schedule, and a statement confirming availability to perform the outlined Scope of Services. Mandatory documents include a copy of the firm’s Business Registration Certificate, insurance documentation, a statement of compliance with the Law Against Discrimination and Affirmative Action (N.J.S.A. 10:5-1 et seq. and P.L. 1975, c.127), and a signed Non-Collusion Affidavit. The firm submission deadline for all proposals is precisely February 21, 2024, at 10:00 a.m. All questions regarding this solicitation should be directed in writing to Donna Mauer, C.F.O. via email at dmauer@baynj.org UNLOCK or by phone at (201) 858-6043.