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Awarded contract·City of Peoria, Arizona·Arizona

Vision Plan Benefits

Won by Vision Service Plan Insurance Company$4.5MSingle Award
Contract source

Awarded vendors

  • Vision Service Plan Insurance Company

Description

The City of Peoria, Arizona has awarded a contract to Vision Service Plan Insurance Company for vision plan benefits. The contract has a term of 5 years, with an option to renew. The contract includes a range of benefits, including eye exams, lenses, and frames. The vendor will provide customer service and account management, and will be responsible for claims and reporting. The contract also includes provisions for subcontracting and confidentiality. • The contract has a term of 5 years, with an option to renew. • The contract includes a range of benefits, including eye exams, lenses, and frames. • The vendor will provide customer service and account management, and will be responsible for claims and reporting. • The contract also includes provisions for subcontracting and confidentiality. • The City of Peoria, Arizona reserves the right to amend or terminate the contract at any time. • The vendor is required to comply with all applicable laws and regulations, including those related to insurance and healthcare.

Attached files

Key dates

Starts
7/1/2021
Ends
6/30/2026Renews
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524114
Solicitation №
ACON05421

Contract value

$4,500,000

The contract value is not explicitly stated in the documents. However, based on the pricing information provided, it appears that the contract is for a fully insured vision plan, with the City paying a premium per employee per month. The premium rates are not provided, but the contract includes a rate guarantee for the first 2 years. Assuming an average premium rate of $10-20 per employee per month, and an average of 500 employees, the total contract value would be approximately $600,000 to $1,200,000 per year, for a total contract value of $3,000,000 to $6,000,000 over 5 years. However, this is a rough estimate and the actual contract value may be higher or lower.

AI estimate from the award documents

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