Region One Educational Services Center, hereinafter referred to as “ESC”, desires to solicit proposals for various firms to perform as a Third Party Administrator for the ESC’s Cafeteria Benefits Plan (IRC Section 125), Flexible Spending Accounts and Dependent Care Spending Accounts.
It is the desire of the ESC to work through a single source Cafeteria Plan Administrator. The Cafeteria Plan Administrator’s function will be to provide an on-line web portal from which to manage benefits. Management functions include and not limited to eligibility, single source billing / reconciliation. The system will interface with ESC payroll system.
It will be the Administrator’s responsibility to oversee the entire Cafeteria Plan and be the single source of contact with ESC. Cafeteria Plan administration will not be tied to products. ESC will evaluate products independent of administration of the plan. ESC will determine which benefits and carriers will be part of the benefit menu options to be administered and managed by the Plan Administrator.
Independent insurance agents and brokers are encouraged to participate in this Request for Proposal process. However, it is recommended that prospective Plan Administrators and carriers should refrain from issuing duplicate quotes to more than one agent or broker. Should duplicate quotes be issued agent selection will be decided by lottery at a Board of Directors meeting.
