City Employee Benefits

The City of Wheat Ridge is seeking a qualified consultant to provide comprehensive brokerage and consulting services for the City's employee insurance benefits program. The selected firm will serve as a strategic partner to the City, providing guidance on benefits strategy, plan design, cost management, regulatory compliance, and industry best practices. The firm will assist the City in evaluating and optimizing its benefits to ensure they remain competitive, cost-effective, and aligned with the City's goals and employee's needs. Some key responsibilities of the selected firm include: • Plan Administration Support: Assist the City with the administration of all group insurance plans • Regulatory Compliance & Industry Insight: Monitor and advise the City on new and pending legislative developments, regulatory requirements, and emerging trends affecting employee benefits • Claims Analysis & Optimization: Analyze claims experience and claims administration to evaluate plan performance, identify cost drivers, and recommend strategies to improve plan efficiency and value • Funding Strategy Recommendations: Evaluate and recommend cost-effective and sustainable funding strategies for the City's benefits program • Carrier Negotiations: Represent the City in negotiations with insurance carriers regarding premium rates, plan design, benefit structures, and other contractual terms • Reporting & Stakeholder Communication: Provide regular reports and strategic updates to the Human Resources team on plan performance, market conditions, and program improvement recommendations • Program Implementation & Employee Communication: Assist with the implementation of new benefits programs or modifications to existing plans, including development of communication materials and participation in employee meetings and open enrollment events • RFP Preparation & Bid Evaluation: Upon request, prepare bid specifications and solicit proposals from qualified insurance carriers • COBRA Administration Support: Provide guidance and support related to COBRA administration to ensure compliance with applicable regulations and proper communication with eligible participants • Issue Resolution & Carrier Liaison: Serve as a liaison between the City and insurance carriers to assist in resolving issues related to claims, billing, eligibility, and general plan administration.