Request for Proposal & Plan/Vendor Management Meridian specializes in all facets of health and welfare consulting, including; medical, dental, vision, life, AD&D, disability, voluntary benefits, FSA/HRA/HSA and is very well versed in the RFP process. During our pre-renewal meeting (usually in September) Meridian will gain a clear understanding of Iroquois’s goals of the benefit programs and develop a customized RFP based upon those needs. Our goal is to handle the heavy lifting and make sure the process runs as efficiently as possible. The first step in the RFP process, is for Meridian to access demographic information of Iroquois members in the form of a census. Typically, we will either request a membership listing from the incumbent carrier(s), use a census report from the clients HRIS system or work off a census template that we provide to Iroquois. During the census data collection process, we will develop a draft RFP including the bid specifications outlined in our pre-renewal meeting along with who we plan to solicit proposals from in the insurance market place. Once complete we send the draft RFP to Iroquois for approval and then release to the market. Many of the medical markets have access to alternative funding methods such as, level-funded, captive insurance or self-funded, so if applicable we would submit the RFP to encompass those funding alternatives. Similarly, for the dental coverage, we will go to the carriers with the strongest networks and deepest discounts. For all other ancillary and voluntary products, we would request proposals from carriers that we have experienced as being competitive in the industry or employer size. Once we receive quotes from the appropriate carriers, we follow the Meridian renewal process and provide a full financial comparison to Iroquois. Tom Clements would personally meet with the Iroquois management team to review the alternatives, make recommendations on carriers/plan designs, network strength, customer service, contract provisions and financial stability. During the analysis we request that the appropriate carriers/vendors provide us with a performance guarantee for the year. In the past, performance guarantees have allowed us to decrease client financial liabilities including premiums, administrative or service costs, in the event the carrier/vendor does not meet the guarantee. Meridian continuously monitors and evaluates the carrier/vendor performance and assists in preventing and resolving service issues over the course of the contract. Once we have narrowed the scope to a few plan designs or carriers, if applicable, we conduct a finalist presentation. The finalist presentation allows Iroquois and Meridian to determine whether there is an appropriate fit between the carrier and Iroquois. At the conclusion of negotiations, we have the appropriate carrier(s) finalize their contract offers and make sure that the proposed contract is accurate and consistent with the quoted option(s). Once we have completed the analysis and finalized the negotiations, we inform Iroquois that we are ready to move forward with the implementation phase of the renewal process. In the event Iroquois would like to “rebid” any portion of the RFP, Meridian will follow the outlined process and make any necessary bid changes that the Iroquois requests. Renewal Process Meridian has a unique approach to the renewal process that is seamless and operationally efficient. Unlike many of our peers our approach is fully automated and online. By utilizing this process, we have found 16
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