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  5. ›GROUP MEDICAL INSURANCE

Awarded contract·City of Coral Gables·Florida

GROUP MEDICAL INSURANCE

$3MSingle Award
Contract source

Description

The City of Coral Gables, Florida, issued a Request for Proposals (RFP) for Group Medical Insurance. The RFP sought fully insured quotations for the City's group medical insurance program. The contract was awarded based on the evaluation of proposals submitted by various vendors. The key aspects of the contract include the provision of group medical insurance services to the City of Coral Gables. The contract details, such as the start and end dates, duration, and renewal terms, are not explicitly stated in the document. The City of Coral Gables reserved the right to accept or reject any and/or all proposals or sections thereof, and waive any informalities or technicalities at any time during the RFP solicitation process. • The RFP was issued on June 6, 2019, and the deadline for proposal submission was July 17, 2019. • The City of Coral Gables encouraged certified minority business enterprises and other minority or woman-owned enterprises to respond to the RFP. • The contract award was based on the evaluation of proposals submitted by various vendors. • The City of Coral Gables reserved the right to accept or reject any and/or all proposals or sections thereof, and waive any informalities or technicalities at any time during the RFP solicitation process.

Attached files

Key dates

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
5241
Solicitation №
2019-019

Contract value

$3,000,000

The contract value is not explicitly stated in the document. However, based on the industry standards and the scope of the contract, it can be estimated that the contract value is likely to be in the range of $500,000 to $2 million per year, depending on the number of employees and the type of insurance coverage provided. The City of Coral Gables has a population of around 50,000 people, and assuming an average of 1,000 to 2,000 city employees, the annual premium for group medical insurance could be substantial. Additionally, the contract may involve other costs, such as administrative fees and claims processing expenses. Therefore, a reasonable estimate for the total contract value over a period of 2-3 years could be in the range of $1.5 million to $6 million.

AI estimate from the award documents

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