STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: February 28, 2024
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Jack Ireland
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SUBJECT
Title
Authorize (1) a five-year service contract for benefits consulting services and auditing services of medical and pharmacy benefit plans for the Department of Human Resources in an amount not to exceed $1,143,750.00; and (2) the ratification for the Department of Human Resources to pay outstanding invoices in the amount of $162,895.81 for benefits consulting services and auditing services of medical and pharmacy benefit plans - Holmes Murphy and Associates, LLC, most advantageous proposer of eight - Total not to exceed $1,306,645.81 - Financing: Employee Benefits Fund (subject to annual appropriations)
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BACKGROUND
This action does not encumber funds; the purpose of a service contract is to establish firm pricing for services, for a specific term, which are ordered on an as needed basis.
This service contract will provide for benefits consulting services and auditing services of medical and pharmacy benefit plans for the Department of Human Resources. The vendor will be responsible for keeping the City's Plan Administrators and City Attorney's Office informed of best practices and advising on any pending legislation that can impact the benefits plan. Additionally, the consultant will perform tasks such as:
* Conduct audits of the medical and pharmacy vendors
* Conduct annual plan evaluations
* Develop funding strategies
* Project plan costs
* Review proposals and provide recommendations
* Conduct benchmark studies and surveys
* Conduct required Governmental Accounting and Standards Board actuarial valuations
* Development of customized employee benefits and plan communications
The City offers medical, dental, and vision coverage to approximately 16,000 participants. These plans are ...
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