Benefits Renewal Control Kit

Benefits renewals are high impact, high emotion, and easy to mishandle.

This kit installs a beginner-safe renewal operating system so you can:

• start early enough to create leverage
• request the right data from carriers and vendors
• compare options consistently
• document decisions and reduce recurring cost drift

Not legal advice.

What you will produce

1. Renewal timeline with owners and buffer dates
2. Renewal data request checklist
3. Option comparison template
4. Negotiation prep checklist
5. Renewal decision memo template

Step-by-step renewal operating system

Step 1: Set the renewal timeline

Beginner-safe rule: start the process at least 120 days before the effective date.

Milestones:

• 120 days: baseline, goals, data request sent
• 90 days: initial quotes and fee schedules received
• 60 days: option set narrowed, negotiation begins
• 45 days: decisions drafted, comms prepared
• 30 days: final decisions locked, payroll and enrollment coordination
• 0 days: effective date

Step 2: Request the minimum viable data

Ask for:

• current plan design summary
• current rates and employer contribution policy
• claims and utilization summary (if applicable)
• vendor fee schedules (broker, admin, PBM, stop-loss)
• renewal quote assumptions (trend, rating factors, exclusions)

If you do not have fee schedules in writing, you do not have real comparability.

Step 3: Define your renewal objectives

Beginner-safe objectives:

• cost predictability
• reduced volatility
• fewer hidden fees
• improved employee clarity

Pick 2 or 3. Too many objectives causes indecision.

Step 4: Compare options consistently

Do not compare glossy decks. Compare:

• employer cost (annual)
• employee cost (annual)
• plan design changes
• fees (explicit line items)
• implementation risk
• carrier and vendor service expectations

Step 5: Negotiate deliberately

Negotiation levers (common):

• rate guarantees
• fee caps
• reduced admin fees
• PBM pricing improvements
• stop-loss terms
• implementation credits

Start with documented asks, not vague requests to “do better.”

Templates

A) Renewal timeline (copy/paste)

Copyable template (TEXT)
Copy
Benefits Renewal Timeline (Owner View)

Effective date:
Owner:
HR owner:
Finance owner:
Procurement owner (if applicable):

120 days out
- confirm objectives
- request renewal data and fee schedules
- validate eligibility control plan

90 days out
- receive initial quotes and fees
- build option comparison table
- identify negotiation targets

60 days out
- narrow to finalist options
- negotiate rates and fees
- draft decision memo

45 days out
- confirm payroll and enrollment requirements
- prepare employee communication plan
- confirm implementation timeline

30 days out
- lock decisions
- finalize vendor instructions and files
- confirm open enrollment dates

Effective date
- go-live checklist complete
- post-renewal review scheduled

B) Renewal data request checklist (copy/paste)

Copyable template (TEXT)
Copy
Renewal Data Request Checklist

Plan overview:
- current plan design and contributions
- enrollment counts (employees and dependents)

Cost and utilization:
- rate history (2 to 3 years)
- claims and utilization summary (if applicable)
- top drivers summary (if available)

Vendor fees:
- broker compensation (commissions and fees)
- admin fees (PEPM, setup, pass-through)
- PBM fee schedule and pricing model
- stop-loss fees and terms

Renewal assumptions:
- trend assumptions and rating method
- exclusions and limitations
- timeline for quote finalization

C) Renewal decision memo (copy/paste)

Copyable template (TEXT)
Copy
Benefits Renewal Decision Memo

Effective date:
Decision summary:
Options considered:
Employer cost impact:
Employee impact:
Key plan changes:
Vendor fee changes:
Risks and mitigations:
Implementation plan:
Owners: