US Benefits - Health: Stop Loss, Pharmacy and Admin

The nature of Medical Insurance 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 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
• Brief resume of the key underwriters
• Any other relevant material developments not covered above (e.g. additional capital injections, explicit parental support / guarantees etc)