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Online Benefit Procurement Process

PSA has exclusive access to a proprietary, online RFP system specifically designed to provide contract and spend management services for employee benefit programs.

The Employee Benefits experts at PSA strive to deliver the most sophisticated, forward-thinking ways to add value and save money for our clients. PSA has exclusive access to a proprietary, online RFP system specifically designed to provide contract and spend management services for employee benefit programs.

EB Spend Management Tool

View a screenshot of a live auction

Used by Fortune 500 companies since 2007, more than 1,300 contracts for 700+ employers covering 3.5 million employees and $2 billion in premium, have been listed on the system. Utilized for Life, Disability, Stop Loss, Pharmacy and Dental, the proprietary online process is designed to accommodate RFPs for all sized employers, regardless of complexity. System Features:

  • Live online inverse auction tool.
  • Every on-line RFP is a customized, detailed sourcing project which outlines your exact plan design and account services desired.
  • Puts the power in the hands of the consumer.
  • Achieves the lowest possible market pricing.

PSA uses this unique approach to procure benefits. It makes RFP results transparent and ensures the most competitive pricing for your organization.

Areas of Employee Benefits

Recent Blog Posts

Jun
16th
5 Ways Cyber Insurance Can Help Your Physician’s Practice Manage Cyber Risk

Did you know? To date, in 2017 there have been 133 reported data breaches in the healthcare industry – on average 17,849 records breached per incident. The Ponemon Institute estimates the cost per lost or stolen healthcare record to be about $400. This does not include fines and penalties, which can further increase the cost. […]

Jun
8th
Ever been asked to provide a Certificate of Insurance?

A question I hear from clients often is “How do I get a Certificate of Insurance?” A request for a Certificate of Insurance (COI) may be the most frequent interaction you have with your property and casualty broker or your insurance carrier. If you’ve never had to obtain a COI before, here’s an overview of […]

May
31st
What is a Controlled Group?

When several entities (whether incorporated or unincorporated) share common ownership, a controlled group or common control may exist.  For many IRS benefit plan purposes, a controlled group is treated as a single employer.  For example, the determination of an employer’s size for purposes of COBRA, Medicare Secondary Payer rules and the ACA’s Applicable Large Employer […]

May
25th
PSA’s Office Renovation Improves Employee Engagement, Performance and Client Experience

Research has shown that employees who are highly dissatisfied with their work environment are often the least engaged. And that lack of engagement can often translate to poor customer service and less satisfactory client outcomes. At PSA, we recognize the importance of a favorable work environment for our employees — so they’re equipped to better […]