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Mississippi Itawamba Community College·Mississippi

Benefits Plan Administrator

Closes 6/26/2025$2.5M – $10MRequest for Proposal
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Description

Itawamba Community College is seeking a Benefits Plan Administrator to provide various voluntary insurance products and conduct administration, including compliance with the Section 125 Cafeteria plan. The contract term will be for one plan year with an option to extend for four additional years. The college is interested in researching multiple avenues for employees to enroll in their insurance coverages. The successful bidder will be responsible for proposing supplemental insurance products, including accident, cancer, critical illness, dental, and more. • The college employs approximately 415 full-time employees. • The Benefits Plan Administrator will be responsible for conducting open enrollment and educating employees on the benefits and services provided. • The college is interested in having one invoice for all coverages under the Plan Administrator's umbrella. • The successful bidder will be required to maintain confidentiality of agency information and employee information as related to HIPAA law. • The evaluation criteria will include relevant experience and references, open enrollment methods, fees and billing invoice, educational material and servicing the account, consultant period, and confidential information.

Attached files

Contact

[email protected], [email protected]

Key dates

Opened
5/27/2025
Questions due
6/16/2025
Pre-bid meeting
6/11/2025
Closes
6/26/2025
Projected award
8/11/2025
Duration
5 years

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
524115
Solicitation №
RFP #3494

Budget estimate

$2,500,000 – $10,000,000

The budget for this opportunity is difficult to estimate without knowing the exact fees and billing invoice of the successful bidder. However, considering the college's 415 full-time employees and the various voluntary insurance products to be provided, a rough estimate could be around $500,000 to $2,000,000 per year, depending on the services and products offered. This would put the total contract value at around $2,500,000 to $10,000,000 over the five-year contract term.

AI estimate from the solicitation

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