Benefits Broker RFP Evaluations


If you’re being asked to document broker fees and services—or to confirm that what you’re paying is reasonable—an RFP process can bring clarity without your team having to manage every detail.

This is usually a fit when renewals feel heavier than they should, service has become inconsistent, leadership is asking for a market check, or you simply need cleaner documentation of broker fees and value for your files.

Culpepper RFP, LLC supports plan sponsors through an independent benefits broker RFP evaluation process, helping you compare services and fees against the broader market in a structured, documented way.

Consolidated Appropriations Act (CAA) of 2021:


The CAA introduced requirements around broker compensation disclosure and increased the focus on understanding and documenting fees related to health and welfare plans.

rfp services include but are not limited to:

 

1.  Identification of the best brokers based on your size, location, and required   services

2.  Writing of RFP and management of RFP evaluation process

3.  Organization of suggested evaluation criteria

4.  All interaction with providers during the evaluation period

5.  Organization and presentation to a client on RFP results and summary of results

6.  Organization of finalist presentations and agenda

7.  Management of references from requested brokers

8.  Final fee negotiation of the selected firm based on 408(b)(2) disclosure of fees

Find out how Culpepper RFP, LLC can help you outsource your RFP process.

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Frequently Asked Questions

  • If you’re the person carrying the responsibility for benefits decisions inside the organization, this will feel familiar. Culpepper RFP supports HR and finance leaders, ERISA counsel, and committees—because the pressure and the risk often land on your desk either way.

  • Culpepper RFP focuses on managing the RFP process itself, so you’re not piecing together vendor comparisons, chasing information, and trying to document everything in between your day-to-day responsibilities. You’re still involved in direction and fiduciary decisions, but the heavy lift of gathering, organizing, and evaluating is handled through our documented process.

  • Our services are designed to reduce the time executives and internal teams spend managing details. Expect some upfront coordination and a few check-ins along the way, but the goal is that you’re not carrying weeks of follow-up, tracking, and evaluation work on top of everything else.

  • That’s a real concern.Our services are positioned as an independent third-party evaluation process, which can lower the temperature and keep the focus on documented criteria instead of internal pressure or preference. It won’t erase politics, but it can give you a clear, neutral structure to point back to.

  • No. Our independent evaluation processes support people who are accountable for the outcome, even if the technical details aren’t your daily focus. We can help you evaluate whether going to an RFP is even necessary, which is often what you want when you’re trying to make a smart decision without creating extra work.

  • If you’re thinking, “I’m not sure what level of process we actually need,” you’re not alone. Before you sign up with us we will review your objectives and discuss the most cost and time effective solution.  Our services include fee and service benchmarking, RFI evaluation, and full RFP evaluations—so the approach can match the situation instead of defaulting to the most intensive option.