Consultant tasks will include: STRATEGIC PLANNING - Partner with NMSU to develop a forward-looking strategic benefit plan that delivers value to employees and their families, supports the NMSU culture while considering cost-value measurements. Strategy should include assessment of the current benefit offerings for both active employees and retirees, or proposed plan designs if decision is made to become self-funded; evaluation of plan design, claims data, financial impact and funding structure, and recommendations to the plan design and/or funding based on analysis of NMSU data, industry benchmarks, and performance data. PLAN DESIGN & ANALYSIS - Assist NMSU in designing competitive and cost effective insurance plans that provide a variety of coverage options for employees and their families. If a decision is made to transition from existing plans to self-funded plan, recommendation for possible plans and the communication strategy needed for successful implementation. COMPLIANCE 1. Assist NMSU with contract negotiations and renewals. 2. Review contracts, plan documents, insurance policies, SPDs and other documents for applicability, accuracy, consistency, and compliance and make recommendations for changes to NMSU. 3. Assist with ensuring compliance with Affordable Care Act changes in the next 3-5 years...
