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  5. ›Self-Insured Medical Third Party Administration Services

Awarded contract·County of Bergen·New Jersey

Self-Insured Medical Third Party Administration Services

Won by Horizon Blue Cross Blue Shield of New Jersey$1.6MSingle Award
Contract source

Awarded vendors

  • Horizon Blue Cross Blue Shield of New Jersey

Description

The County of Bergen has awarded a contract to Horizon Blue Cross Blue Shield of New Jersey for self-insured medical third-party administration services. The contract is for a period of 2 years, starting from January 1, 2024, and ending on December 31, 2025. The contract includes a range of services such as claims administration, care management, and wellness programs. The vendor has proposed a range of administrative fees, including a base cost per member per month, and has also offered performance guarantees, including a 25% fee at risk for performance guarantees. The contract also includes a range of reporting requirements, including monthly experience reports and ad hoc reporting capabilities. • The contract includes a range of services such as claims administration, care management, and wellness programs. • The vendor has proposed a range of administrative fees, including a base cost per member per month. • The contract includes performance guarantees, including a 25% fee at risk for performance guarantees. • The contract includes a range of reporting requirements, including monthly experience reports and ad hoc reporting capabilities. • The vendor has also offered a range of wellness programs, including a wellness start program, a wellness improve program, and a wellness engage program. • The contract includes a range of discounts, including a $100,000 annual wellness credit, and a 5% rate cap on administrative fees for years 4 and 5.

Attached files

Key dates

Starts
1/1/2024
Ends
12/31/2025Renews
Duration
2 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Healthcare and Medical Services
NAICS
524114
Solicitation №
RFP-23-022

Contract value

$1,575,000

Based on the contract description, the value of the contract can be estimated as follows: The contract includes a range of administrative fees, including a base cost per member per month, which is $26.25. The contract also includes performance guarantees, including a 25% fee at risk for performance guarantees. The contract also includes a range of discounts, including a $100,000 annual wellness credit, and a 5% rate cap on administrative fees for years 4 and 5. Assuming an average of 2,500 members per month, the total administrative fee per month would be $26.25 x 2,500 = $65,625. The total administrative fee per year would be $65,625 x 12 = $787,500. The total contract value over 2 years would be $787,500 x 2 = $1,575,000. However, this is just an estimate, and the actual value of the contract may be higher or lower, depending on a range of factors, including the actual number of members, the actual administrative fees, and the actual performance guarantees.

AI estimate from the award documents

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