Specifications include, but are not limited to: A. Provide analysis and rate setting for self-insured health, dental, vision, audio and long-term care plans and associated reserve analysis. B. Provide any necessary actuarial services including projecting funding needs for the upcoming fiscal year for all benefit plans. C. Notify the state of all federal issues affecting or potentially affecting the state’s benefit plans; advise the state of appropriate action to be taken; and provide assistance upon request. D. In coordination with the state, on an annual basis review the health benefit plans for quality and value of benefits provided, competitiveness and plan administration. E. Inform the state of applicable market trends, employee benefit issues, proposed legislation, and innovations. F. Assist in the development of policy and plan initiatives by (1) developing presentation materials, briefing documents, and other related materials as required; (2) providing a thorough analysis of policy implications specific to the state including but not limited to legal and actuarial analysis; and (3) identifying additional recommendations for state consideration. G. Assist the state in maintaining surveillance over State’s vendor partners’ operations to ensure proper performance and leverage industry experience and knowledge to provide insight to the state regarding the State’s vendor partner’s performance. H. No less than once a quarter, review the reports generated by the health benefits contractor(s) for the Division and (1) evaluate the data analysis and quality of the reports; and (2) recommend the addition or alteration of reports as necessary to improve quality of data reporting and to meet the state’s evolving needs. I. Prepare and deliver necessary reports to the state as required by the federal government and perform other reporting functions including but not limited to those for qualified plans (e.g., RDS annual actuarial attestation).
