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  1. Bid Banana
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  4. ›Insurance
  5. ›T17-119-01

Awarded contract·City of Tempe·Arizona

T17-119-01

Won by Sun Life Assurance Company of Canada$12.9MSingle Award
Contract source

Awarded vendors

  • Sun Life Assurance Company of Canada

Description

The contract is for stop loss insurance services provided by Sun Life Assurance Company of Canada to the City of Tempe. The contract has a term of 9 years, with an option to renew. The contract includes various terms and conditions, such as the definition of "paid" in the stop loss contract, the frequency of specific stop loss checks, and the reimbursement percentage. The contract also includes a pricing section, which outlines the monthly premium rates for single and family coverage. The City of Tempe has a policy of nondiscrimination in employment, housing, and public accommodations, and vendors are required to comply with this policy. • The contract is for stop loss insurance services. • The contract has a term of 9 years, with an option to renew. • The contract includes various terms and conditions, such as the definition of "paid" in the stop loss contract. • The contract includes a pricing section, which outlines the monthly premium rates for single and family coverage. • The City of Tempe has a policy of nondiscrimination in employment, housing, and public accommodations.

Attached files

Key dates

Starts
6/29/2017
Ends
6/30/2026Renews
Duration
9 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524114
Solicitation №
T17-119-01

Contract value

$12,900,600

The contract value can be estimated based on the monthly premium rates provided in the pricing section. The contract is for 9 years, and the monthly premium rates are $23.45 for single coverage and $61.21 for family coverage. Assuming an average of 500 employees with single coverage and 500 employees with family coverage, the total annual premium would be approximately $1,433,400. Over 9 years, the total contract value would be approximately $12,900,600. However, this is a rough estimate and the actual contract value may vary based on various factors, such as changes in premium rates, employee enrollment, and claims experience.

AI estimate from the award documents

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