FROM: Stacey Barnier, Director of HR and Risk Management
SUBJECT: Informational: Update on Keenan and Associates' Work on Employee Benefits Insurance Broker and Consulting Services
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Informational Update on Keenan and Associates' Work on Employee Benefits Insurance Broker and Consulting Services.
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BACKGROUND:
Keenan and Associates, a niche insurance brokerage and consulting firm that was founded to serve California public agencies and retirement systems, was selected to assist SBCERA with its employee health and welfare benefits and insurance. A contract with Keenan was approved by the SBCERA Board in October 2021.
Over the past several years, SBCERA has worked on Strategic Priorities designed to provide greater control over its contracted critical services including, but not limited to, employee health and welfare benefits and insurance, property and casualty insurance, and payroll services. To achieve these goals, we have implemented the required payroll infrastructure to be able to manage and administer our employee benefits internally.
Currently, SBCERA contracts with San Bernardino County for its health and welfare benefits offerings. SBCERA does not have access directly to the insurance carriers and/or health care plans, and instead must work through the County to address any enrollment or benefits problems, issues, or questions, resulting in delays and concerns by SBCERA employees. We engaged Keenan to go out to market to determine if we can provide SBCERA employees with a broad array of benefits, acceptable total cost, and direct access to carriers and plans.
Over the course of the last several months, Keenan has marketed and negotiated with various carriers and explored pooled arrangements on behalf of SBCERA. They explored ten different options for medical insurance including some pooled arrangements as well direct with the carriers in addition to a non-traditional option. They explored four different dental c...
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