Page 21 - Francis Parker School RFP (Stawicki)

Burnham Benefits Response to Francis Parker School Request for
Proposal for Consultant/Broker for Health and Welfare Plans

Services
Section 5 | Fees

Provide a detailed description of your compensation structure, including specific commissions, fees,
overrides, bonuses and reciprocity.

Compensation to Burnham
Burnham Benefits can be compensated in either of two ways:
1. a consulting fee, paid monthly or quarterly; or
2. by commissions—a percentage of premiums equal to the amount agreed upon between the
school and Burnham Benefits.

Burnham understands that different organizations have unique preferences and we are flexible in
the way we are compensated. We understand that Francis Parker is presently paying its current
consultant a service fee and contracts are written net of commissions. We are happy to propose a
Fee Service arrangement or build standard commissions into the health and welfare plans and any
future plans that might be placed. Payment is openly discussed and agreed upon; we believe in
complete fee disclosure.

As per Francis Parker School’s specifications, Burnham Benefits’ consulting services will include, but
are not limited to the table below.

See Appendix 5 | Proposed Fee Schedule

Services
FSA plan and COBRA administration Online ACA reporting administration

Preparation and submission of IRS Form 5500 Employee/Patient Advocacy Services
Online benefit enrollment administration Subsidize School’s wellness initiatives

Overrides and Bonuses

Burnham Benefits does not place business based on the possibility or expectation of overrides or
bonuses. Instead, Burnham works with the market carriers to find the best possible fit for our clients’
needs. That said, if bonuses and overrides are paid, information is provided on Form 5500s filed with
the IRS.

Reciprocity

Burnham Benefits is never in a position in which it owes business to carriers; however, when
appropriate, we will ask carriers to assist with payment for various client services. Looking at the
strategic plan that we have developed for Francis Parker School, Burnham is planning to seek carrier
assistance with wellness initiatives and the employee online enrollment system. We also enjoy
preferred pricing with many major COBRA and FSA vendors.

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