Title
From the Director of Benefits Administration, Department of Human Resources, requesting authorization to execute a three-year contract with Employee Benefits Corporation (EBC) for Flexible Spending Account and COBRA administration services. This contract would be effective from January 1, 2020 through December 31. 2022.
Body
Background
Milwaukee County currently provides Flexible Spending Account and COBRA administrative services through Employee Benefits Corporation (EBC). The Benefits Division negotiated a reduction in cost for administration services provided by (EBC).
The Benefits Division conducted an RFP facilitated by Milwaukee County’s Procurement Department to identify a vendor capable of administering our plans.
Vendor Selection
The RFP process identified Employee Benefits Corporation (EBC) as the firm most capable of
administering the County's Flexible Spending Account and COBRA administration. They are an effective employee-owned company located in Madison, Wisconsin, whose core business is Flexible Spending Account and COBRA administration. They are financially stable, have a proven track record of quality customer service, and will continue to offer the same convenience-based services (e.g. debit card).
Financial Analysis
EBC will charge Milwaukee County administrative fees of $2.90 per enrolled participant per
month for Flexible Spending Account Administration (approximately $114,000 per year) and $0.37 monthly administration fee per number of unique employees enrolled in COBRA. This amount varies month to month.
Requested Action
Authorization for the Director of Benefits Administration to extend the contract with Employee Benefits Corporation to continue Flexible Spending Account and COBRA administration services from January 1, 2020 through December 31. 2022.