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Awarded contract·Tampa International Airport·Florida

Group Vision Insurance Benefits

Won by Humana Insurance Company dba Humana$1.9MSingle Award
Contract source

Awarded vendors

  • Humana Insurance Company dba Humana

Description

This contract is for group vision insurance benefits for Tampa International Airport employees, retirees, COBRA participants, and dependents. The scope of work includes providing a group vision plan, dedicated personnel for account support, enrollment, implementation, and claims handling, plan administrator and plan participant portals, stable contractual relationships with vision service providers, report preparation, and assistance with integration with the Authority ERP solution. The contract has a term of two years with three discrete one-year renewal options. The estimated annual premium rate for the first two plan years is $121,103.28. • The contract is fully insured with individual and family tier structures. • The contract has a term of two years with three discrete one-year renewal options. • The estimated annual premium rate for the first two plan years is $121,103.28. • The contract is funded through the O&M Budget. • The vendor is Humana Insurance Company dba Humana.

Attached files

Key dates

Starts
8/1/2019
Ends
9/30/2024
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524114
Solicitation №
62397

Contract value

$1,945,000

The contract value can be estimated based on the estimated annual premium rate for the first two plan years, which is $121,103.28. Since the contract has a term of two years with three discrete one-year renewal options, the total contract value can be estimated as follows: $121,103.28 (first year) + $121,103.28 (second year) = $242,206.56 (initial term) With three one-year renewal options, the total contract value can be estimated as: $242,206.56 (initial term) + $121,103.28 (renewal 1) + $121,103.28 (renewal 2) + $121,103.28 (renewal 3) = $605,516.40 (total estimated contract value) However, the document also mentions that the contract has been renewed multiple times, with the most recent renewal being from 2019-2024, which is a 5-year term. The budget amount mentioned in the document is $389,000. Considering this, the estimated total contract value can be revised to be around $389,000 per year for 5 years, which is approximately $1,945,000.

AI estimate from the award documents

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