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  5. ›Group Life, AD&D, Supplemental and Dependent Life Insurance

Awarded contract·Flagler County Board of County Commissioners·Florida

Group Life, AD&D, Supplemental and Dependent Life Insurance

Won by Hartford Life and Accident Insurance Company$1.1MSingle Award
Contract source

Awarded vendors

  • Hartford Life and Accident Insurance Company

Description

The Flagler County Board of County Commissioners issued a Request for Proposals (RFP) for Group Life, Accidental Death Dismemberment (AD&D), Supplemental and Dependent Life Insurance. The contract was awarded to Hartford Life and Accident Insurance Company for a term of three years, with the option to renew for an additional three-year term. The contract provides coverage for approximately 715 employees and 66 retirees. The scope of work includes providing open enrollment periods and quotes for matching current benefits, as well as options for reducing rates and overall cost to Flagler County. Key points to consider for similarity to other contracts include the type of insurance being provided, the number of employees and retirees covered, and the term of the contract. • Type of insurance: Group Life, AD&D, Supplemental and Dependent Life • Number of employees and retirees: approximately 715 employees and 66 retirees • Term of contract: 3 years with option to renew for an additional 3 years • Scope of work: providing open enrollment periods and quotes for matching current benefits, as well as options for reducing rates and overall cost to Flagler County

Attached files

Key dates

Starts
10/1/2016
Ends
9/30/2019Renews
Duration
3 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Insurance
NAICS
524110
Solicitation №
16-041P

Contract value

$1,110,600

The value of the contract can be estimated based on the number of employees and retirees covered, as well as the term of the contract. Assuming an average annual premium of $500 per employee and $200 per retiree, the total annual premium would be approximately $357,000 (715 employees x $500) + $13,200 (66 retirees x $200) = $370,200. Over the three-year term of the contract, the total value would be approximately $1,110,600. This is a rough estimate and the actual value of the contract may be higher or lower, depending on various factors such as the specific insurance benefits provided and the actual premiums paid.

AI estimate from the award documents

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