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Awarded contract·Bay County, FL·Florida

HSA Bank Services Agreement

Won by HSA Bank, a division of Webster Bank, N.A.$1MSingle Award
Contract source

Awarded vendors

  • HSA Bank, a division of Webster Bank, N.A.

Description

This contract is for health savings account (HSA) services provided by HSA Bank, a division of Webster Bank, N.A., to Bay County, FL. The contract has a term of three years, with automatic renewal for 12-month periods thereafter. HSA Bank will serve as custodian of HSAs established by Bay County for its employees. The contract outlines the terms and conditions for the provision of HSA services, including debit card services, electronic file transmission, and security procedures. Key aspects of the contract include: • HSA Bank will provide custodial services for HSAs established by Bay County • Bay County will contribute to HSAs established at HSA Bank • HSA Bank will provide debit card services to participating employees • Electronic file transmission and security procedures will be used to protect sensitive information • The contract has a term of three years, with automatic renewal for 12-month periods thereafter • HSA Bank may terminate the contract upon 30 days' written notice if Bay County fails to pay administrative fees

Attached files

Key dates

Starts
6/20/2022
Ends
6/19/2026Renews
Duration
3 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Financial Services
NAICS
522110
Solicitation №
HIST-259

Contract value

$1,000,000

The contract value is not explicitly stated in the document. However, based on the services provided, it can be estimated that the contract value is likely in the range of $100,000 to $500,000 per year, considering the administrative fees and other costs associated with HSA services. The total contract value for the three-year term could be estimated to be around $300,000 to $1,500,000. Factors that may influence the likely contract value include the number of employees participating in the HSA program, the average account balance, and the fees associated with the services.

AI estimate from the award documents

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