Questionnaire No. 7 - Flexible Spending Accounts.pdf

City of Miami Questionnaire for RFP No. 2130386

Questionnaire 7 Flexible Spending Accounts (“FSA”)

Completion of this questionnaire is not mandatory, but it is strongly encouraged as failure to do so could negatively impact the overall evaluation score of the Proposal. Responses will strengthen your technical evaluation and may contribute to your overall proposal score. Please answer in the order presented. Incomplete responses may affect scoring.

I. Financial Stability and Experience

1. Provide the Proposer’s current rating with A.M. Best, Moody’s, Fitch, and/or Standard &

Poor’s.

2. Include the full business name of the Proposer, contact details, Federal Employment

Identification Number (“FEIN”) history, and company overview.

3. Identify the primary office servicing the City and list the services offered at that office.

4. List affiliated companies (e.g., insurance companies, Preferred Provider Organizations

(“PPOs”), Health Maintenance Organization (“HMOs”), Managing General Underwriter

(“MGUs”), Brokerage operations, General Agencies, etc.).

5. Disclose any mergers, name changes, lawsuits, bankruptcies, or regulatory actions within the past seven (7) years.

6. Describe experience with Flexible Spending Account (“FSA”) and Dependent Care FSA

(DCFSA) administration, including the number of years in business and public sector clients.

7. Provide the total number of current FSA participants administered by the Proposer.

II. Plan Design and Services

1. Provide an overview of the Proposer’s standard FSA and DCFSA offerings, including:

a. 2 ½ month grace period or carryover provision

b. Number of debit cards issued per household

c. Replacement card fees

d. Internal Revenue Service (“IRS”) compliance of card processing

2. Confirm the following services will be provided:

a. Summary Plan Descriptions (SPDs)

b. Enrollment materials (electronic and hard copy)

c. Participation in employee meetings for orientation, education, and enrollment

d. Customer service for employees and participating family members

e. Processing of enrollment materials and disbursements per City direction

City of Miami Questionnaire for RFP No. 2130386

Questionnaire 7 Flexible Spending Accounts (“FSA”)

3. Confirm the ability to support administration for a (5) year term, with two (2) additional three (3)-year renewal options.

III. Reporting and Recordkeeping

1. Describe the standard reports provided and their frequency, including but not limited to:

a. Medical Spending Account Transaction Report

b. Dependent Care Spending Account Transaction Report

c. Pre-tax Payroll Deduction Report

d. Bank Account Report

e. Plan Qualification Report (IRS discrimination testing)

f. Employee Transaction Report

g. Individual and Year-End Employee Account Statements

2. Describe how the Proposer will:

a. Administer the plan (deposits, reimbursements, tracking, disbursements)

b. Manage employee communications and education

c. Provide employee and employer record-keeping (enrollments, elections, payroll updates)

d. Ensure compliance with IRS code and FSA regulations

e. Prepare required IRS tax reporting, withholding, and distribution documentation

IV. Technology and Integration

1. Confirm your system’s ability to accept a weekly electronic eligibility file from the City, including a sample of required data elements.

2. If not the City’s current medical carrier, confirm willingness to coordinate with the medical plan for applicable data sharing (e.g., claim substantiation).

V. Engagement and Support

1. Confirm willingness to participate in City-sponsored health fairs, open enrollment sessions, and other employee engagement initiatives.

2. Describe how and when you will provide ongoing consultation to the City regarding plan design, compliance, and employee communications.