real challenges.Over 30% of companies’ payroll costs are spent to provide employee benefits. Because of these significant costs, organizations continuously monitor benefit plans to make sure they align with the goals of hiring and retaining talented employees. By conducting periodic requests for proposals (“RFPs”) to evaluate potential vendors, companies seek new ways to enhance employee benefit plans while also identifying cost savings and other opportunities for more favorable commercial terms.

real answers.Polsinelli offers customized counseling services to help your company maximize the outcomes of its employee benefits RFPs. Our attorneys have significant experience with some of the largest third-party administrators, insurance companies, pharmacy benefit managers, consulting firms, and other vendors that provide services to companies and their employee benefit plans. As a result, we can identify ways through the RFP process to improve the administration of your employee benefit plans and develop negotiation strategies that aim to reduce costs and obtain greater contractual protections.

Our Services

Our Employee Benefits RFP Counseling Services typically include: • Up-front evaluation of the vendor bid specifications, scope of services, and other critical objectives of the RFP.

• Direct negotiations with third-party administrators, insurance companies, pharmacy benefit managers, consulting firms, and other service providers on behalf of our clients.

• Evaluation of the vendor’s general track record in the industry, as well as analysis of publicly available information regarding its financial position and pending litigation or other legal proceedings that relate to the vendor’s proposed services.

• Customized approaches to reduce the company’s costs (including ways to capture greater amounts of provider rebates and discounts), as well as the possibility of negotiating “most favored nation” pricing terms.

• Proactive advice and recommendations for best practices throughout the RFP process for any fiduciary considerations under ERISA or other applicable laws.

• Identification of additional commercial terms that enhance the protections for the company, the plans, and the in-house fiduciaries, including more favorable indemnification obligations, audit rights, dispute resolution procedures, and other key provisions that reduce potential liabilities and uncertainties for our clients.

• Advice regarding compliance with any special laws that may apply, including state insurance laws, data privacy and security laws, anti-kickback laws, and government contracting laws.

• Evaluation of any proposed performance guarantees, as well as other strategies to align the vendor’s performance with “at risk” compensation approaches.

• Approaches to ensure that the RFP bidders satisfy any company policies regarding code of conduct, business ethics, gift policies, and minimum diversity expectations for its outside vendors.

• Identification of ways to reduce the company’s out-of-pocket costs in conducting the RFP process itself and implementing any transition to a new vendor.

Employee Benefits RFPCounseling Services

Employee Benefits RFPCounseling Services

real value.In addition to our competitive hourly rates, we are also able to offer our Employee Benefits RFP Counseling Services on a fixed-fee and blended-rate basis. Please contact us for more information on how our fee arrangements can align with your company’s objectives for its employee benefit plan RFPs.

our team.To assist your company with its employee benefits RFPs, Polsinelli has created a multi-disciplinary resource team of experienced attorneys from our employee benefits, health care, insurance regulation, and other practice groups. Our team is led by Bob Weinberg and Andrew Douglass. Please contact us or your Polisnelli attorney for more information about our Employee Benefits RFP Counseling Services and how we can help your company.

Bob Weinberg understands that clients seek practical and business-centric legal advice when trying to accomplish their goals. For this reason, Bob always starts with trying to gain a holistic understanding of the client’s business and how the particular issue, transaction, or regulatory concern impacts the client’s overall strategies. Prior to re-entering private practice, Bob served as Vice President and Associate General Counsel for an industry-leading national pharmacy benefit manager, where he regularly advised the company on strategic pricing, supply chain, network, formulary and Medicare product initiatives. He also negotiated numerous complex contracts with national and regional health plans, third party administrators, industry leading consulting firms, public sector employers, labor trusts, and government health programs. Bob counsels both public and private companies on their pharmacy and other benefit arrangements, including issues that arise during requests for proposals and contract negotiations with benefit plan vendors.

Andrew Douglass approaches legal counsel through the lens of the client. By focusing on the client’s definition of success, he tailors his employee benefits counsel so that it is centered on how to help the client reach its unique business objectives. With a prior background as an actuarial consultant in the employee benefits practice of a large public accounting firm, Andrew brings a multi-faceted approach to helping employers address the legal, financial, and administrative issues that affect their benefit plans. Andrew regularly counsels both public and private companies on their qualified and nonqualified retirement plans, health and welfare plans, and other benefit arrangements, including issues that arise during requests for proposals and other negotiations with benefit plan vendors.

Team Contacts

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Polsinelli PC. Polsinelli LLP in California.