Requesting Benefit Plan Proposals

CuriousG

Does anyone have a format or examples of what they have used to solicit proposals from agent/brokers for their Employee Group Insurance coverage? In particular I am curious about Medical/Dental/Life Insurance.

Our current carrier is withdrawing from the Oklahoma group insurance market. I want to get bid's from serveral (3-5) agent/brokers for an HMO, an Insured Managed Care Plan, Dental, and ancillary plans (pharmaceutical, vision, etc...) In addition I want to get proposals for group term life. In the past I have dealt with self insured plans, so I was soliciting TPA's, now I want to get actual proposals for insurance.

Does anyone have any thought on what key services or terms should also be included in a proposal (such as HIPPA and COBRA Notifications, etc.)? We have an existing 125 (POP) Plan that will take these plans under its umbrella.

bsa

I started in January for an April renewal date and was hard pressed to meet my deadline. I contacted 5 insurance brokers. I told them what my current health plan contained and what changes might be considered. I provided them with a census of current employees (name, dob, sex, current coverage). They compiled several options for my review, including alternate plan packages I didn't request or hadn't considered (if you allow them to, they can really waste a lot of your time). I based my decision on the insurance plan that came closest to my specifications -- the broker who listened to what I wanted. Most brokers are also able to assist you with your other benefits, ie. 401k, 125, EAP, etc.