REBID - Broker of Record for Health Insurance and Prescription Benefit Services

The Atlantic County Utilities Authority is seeking a Broker of Record (BOR) or designated agent to serve as its primary representative and consultant for managing its health benefits programs. The selected broker will be responsible for evaluating, negotiating, and maintaining health insurance plans that cater to both active employees and retirees, ensuring these plans align with the organization's fiscal policies and administrative guidelines. The contract, titled "REBID - Broker of Record for Health Insurance and Prescription Benefit Services," is posted under solicitation number 2025-RFP-05, with a response deadline of March 13, 2025. The engagement is expected to involve a contract value ranging from $50,000 to $250,000, and the organization is based in New Jersey, with the primary point of contact being Oren Thomas. The scope of the contract includes detailed responsibilities such as analyzing various health benefit scenarios, including remaining insured through the State Health Benefits Program (SHBP), utilizing Health Reimbursement Arrangements (HRA), and exploring both fully insured and self-insured medical and prescription drug plans. The contract also encompasses evaluating cost structures, commission arrangements, and embedded premium costs. Additionally, the organization may require the broker to assist with other related services, such as reviewing maintenance testing proposals for electrical substations, as indicated by the inclusion of pricing forms for maintenance and testing services. The contract will be governed by standard provisions covering performance security, insurance, warranties, compliance with applicable wage laws, record-keeping, and renewal options, ensuring a comprehensive and compliant partnership to support ACUA’s employee benefits administration.