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<br />6:~ð-z, <br /> <br />bids from three Flexible Benefit Plan vendors: Creative Benefits, Flex Plan Services, Inc., and <br />IGOE & Company. Staff from the Human Resources and Finance departments met with <br />Creative Benefits and Flex Plan Services, Inc., both of which presented quotes lower than the <br />fee paid to TLC, the current Flexible Benefit Plan administrator. <br /> <br />Based on their proposals, Creative Benefits and Flex Plan Services, Inc. are able to meet our <br />requirements, and provide additional services that include: transmitting data to and receiving <br />data from the City electronically and providing the reports and administrative support <br />necessary to reduce Finance staff time spent on plan administration. Both vendors offer a <br />dedicated account management team available to both City staff and employees along with <br />online account access, and the ability to download claim forms. <br /> <br />Vendors provided three public agency references. References have been contacted and all <br />confirmed that both vendors provide consistent and outstanding customer service. <br /> <br />Flex Plan Services, Inc. returned an aggressive proposal that would lower the administrative <br />charge for the Flexible Benefit Plan from a flat fee of $1,917 per month to $4.50 per employee <br />(or $1,566) per month for a possible annual savings of $4,208, while providing more effective <br />services than the current administrator. After a review of the proposals and cost from each <br />vendor, it is recommended that the City enter into an agreement for services with Flex Plan <br />Services, Inc. <br /> <br />Flex-Plan Services Inc. has been providing Flexible Benefit Plan administration since 1989. <br />Originally, Flex-Plan Services administered plans for local school districts, counties, <br />municipalities, and other government agencies only. Currently Flex Plan Services Inc. has <br />approximately 100 public sector clients and has now branched out to the private sector <br />administering plans for 1,200 active clients. <br /> <br />Fiscal Impact <br />The estimated cost to the City will be $18,792 for each plan year 2006 and 2007 providing an <br />estimated annual saving of $4,208 for the next two (2) years. Funds for this program have <br />been allocated in the Human Resources budget. <br /> <br />Alternative <br />Council could elect staff continue using the current administrator or enter into a services <br />agreement with one of the other vendors that submitted a quote. <br /> <br />~~j7(i'.II.' e\,é'>"~ j , <br />Lisa lowers-Ford 1-/ <br />Employee Benefits Coordinator <br /> <br /> <br />/1 /Jj--- <br />~tt <br /> <br />City Manager <br /> <br />Attachments <br />Flex-Plan Services Inc, Flexible Benefit Plan - Plan Document <br />Administrative Services Agreement <br />Summary Plan Description <br />