Published date: 7 July 2021
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Medical insurance services - 66512220
Location of contract
Any region
Value of contract
£0
Procurement reference
tender_277571/977309
Published date
7 July 2021
Closing date
6 August 2021
Closing time
4:59am
Contract start date
1 April 2022
Contract end date
31 March 2025
Contract type
Service contract
Procedure type
Open procedure (above threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements above the relevant contract value threshold.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
The US Network has provided Medical Insurance coverage for its Country Based Staff members (CBS) as part of suite of benefits for many years. The suite of benefits provided have taken on more importance with the passage of the Patient Protection and Affordable Care Act (ACA). The ACA provided comprehensive reform of medical, prescription drug, dental and vision insurance across the US. The main goal of the ACA is to ensure all Americans have access to affordable insurance coverage. The current contract expires on the 31st of March 2022.
The nature of Health: Stop Loss, Pharmacy and Admin and the size of the US requires that staff (and any qualifying dependents) have coverage across the 50 US States. In order to ensure geographical coverage and the optimum service provision and Contract Administration, we contract a benefits Broker.
Our current Broker is Willis Towers Watson (WTW), whom we have appointed on a separate contract. The Broker specialises in managing the contract, yearly renegotiations, legal advice provision in relation to state and federal changes as well as helping post forecast their expenses and staff contributions for the year ahead. They will be acting as the key point of contact for this procurement opportunity.
The Contract is to be for a period of up to five (5) years. Three (3) years, with an option to extend for two (2) additional years upon agreement between Authority and Contractor. The contract for the original three (3) year period is scheduled to start on the 1st of April 2022 and shall expire on 31 March 2025, unless extended.
All tender documentation will be sent by, and all substantive communication between the Authority and bidders will be conducted via the FCDO's specialist broker Willis Towers Watson.
All bidders must:
* Be licensed to do business in the United States (U.S.).
* Follow U.S. regulations.
* Have a U.S. presence.
* Own their own U.S. networks (Only major carriers will be considered; Third Party Administrators (TPA's) will not be considered).
Companies will be asked to provide:
- Copy of the certificate of incorporation
- Audited opening balance sheet i.e. at the time of incorporation / commencement of operations, or
- Evidence of current shareholders' funds / equity
- Business plans and projection for the next 2 - 3 years
- Details of ownership (including percentage interest)
- Details of reinsurance arrangements
- Any plans for ratings by any of the rating agencies, if not already published
- Types of business authorised and types written
- Details of the board of directors, including a brief resume of the key directors
Full Instructions and contact information for WTW is available under Project_6603 / ITT_4423 https://fcdo.bravosolution.co.uk
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Closing: 6 August 2021, 4:59am
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