Description
Newark Board of Education is seeking a qualified insurer to provide one‑year stop‑loss coverage (individual deductible $500k, with optional higher options) that mirrors its self‑funded medical and pharmacy plans. The vendor must supply guaranteed rates for 12 months, monthly reporting, EDI data exchange, and a detailed implementation schedule to launch coverage on July 1 2026. All proposals, questions, and supporting documents are to be uploaded via the NPS Sourcing portal, with a submission deadline of May 15 2026. The award will be approved by the Board on June 21 2026, and the contract runs through June 30 2027.
• Provide individual (and aggregate) stop‑loss coverage with deductible options $500k, $600k, $750k.
• Deliver monthly claim reports, EDI enrollment/termination data, HIPAA‑compliant security, and a full implementation timeline.
• Include all required certifications (political contributions, ownership, non‑collusion, Russia/Belarus, Iran, HIPAA, insurance, workers’ comp) and cap broker commissions at $700k (15% of premium).