1.6 Explanation of Data Attachments.docx
DOCX document 22 KB Posted
- Solicitation number
- 95PEBP-S1790
- Issued by
- Clark County, Nevada
About this file
The document provided is an explanation of data attachments related to a state and local contract opportunity for Life and Disability Insurance for the Public Employees' Benefits Program (PEBP) in the state of Nevada. The current carrier, The Standard, has provided details on the existing plan, including active and retiree basic life insurance, as well as long-term disability (LTD) coverage. The active basic life insurance plan has changed to a flat $15,000 coverage with a rate of $0.566 per $1,000, down from a $25,000 coverage with a $0.539 per $1,000 rate. The retiree basic life insurance plan has also changed to a flat $7,500 coverage with the same $0.566 per $1,000 rate. The LTD plan was terminated due to budget cuts, and the state is now seeking to re-quote this benefit on an employer-paid basis.
The document also includes information on premium amounts and coverage levels, as well as historical rate changes. The state is requesting quotes for alternative basic life insurance options of $20,000 and $25,000 for active employees, and $10,000 and $12,000 for retirees. The LTD plan is to be re-quoted on an employer-paid basis, as the state's budget situation may allow for its reinstatement. The current contract with The Standard, including rate history, is also provided.
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1.6 Explanation of Data Attachments
The State has been with The Standard for Life and Disability coverage since 7/1/2003. The Standard has provided the following details about the current plan:
1.7 State of NV PEBP - 7.1.2018-10.1.2021 lives- volume - premium.xls This report reflects all lines of coverage in place with the current carrier. Only Active & Retiree Basic Life are included in this RFP. Active AD&D, Active Additional Life, Retiree Additional Life, and Dependent Life are only offered on a voluntary basis and the voluntary lines are not currently out to market.
PEBP does not use this carrier-generated invoice report to pay premiums. However, it can be utilized for current lives, volumes, and premium amounts.
1.8 State of Nevada PEBP - 2021.06 Invoice Backup Information.pdf This invoice is to be used to provide the most recent employer-paid LTD premium and lives information. PEBP does not provide an invoice for LTD payment. They provide backup for the carrier to use to apply and premiums once received.
In this attachment, please find the following explanation on how to see the monthly premium paid for June of 2021, the last month of LTD premium payment (LTD plan canceled as of 7/1/2021):
On page of the backup provided on page 5, you will see a table entitled LTD in the middle of the page.
The LTD premiums need to be added together for the following categories to come up with the monthly premium: CDHP Actives, CDHP Non-State Actives, EPO Actives, EPO Non-State Actives, HMO Actives, and HMO Non-State Actives. From my analysis, the total active LTD premium for June 2021 should equal $375,174.80.
1.9 State of Nevada PEBP - 2021.09 Invoice Backup Information.pdf Explanation on how to see the Basic Life monthly premium paid for September:
On page of the backup provided on page 3, you will see a table entitled Basic Life.
The Active Basic Life premiums need to be added together for the following categories to come up with the monthly premium: CDHP Actives, CDHP Non-State Actives, LD-PPO State Actives, LD-PPO Non-State Actives, EPO Actives, EPO Non-State Actives, HMO Actives, and HMO Non-State Actives. The premium information at the bottom right hand of this page provides the active premium added up from this table. The total active Basic Life premium for September 2021 should equal $216,130.88.
The Retiree Basic Life premiums need to be added together for the following categories to come up with the monthly premium: CDHP Retirees, CDHP Non-State Retirees, LD-PPO State Retirees, LD-PPO Non-State Retirees, EPO Retirees, EPO Non-State Retirees, HMO Retirees, HMO Non-State Retirees, Medicare Retirees, and Non-State Medical Retirees. The premium information at the bottom right hand of this page also provides the retiree premium added up from this table. The total active Basic Life premium for September 2021 should equal $67,909.06.
1.10 Certificate 642682_BL_A_CE 6-29-2021.pdf
BL-A is the certificate for Active Basic Life of a flat $15,000 and the current rate is $0.539/$1,000.
Due to state budget cuts, the active Basic Life plan changed to a flat $15,000 of coverage, effective 7/1/2021. The rate for this coverage changed to $0.566 per $1,000 of coverage.
Prior to 7/1/2021, the active Basic Life plan was a flat $25,000 of coverage. The rate was $0.539 per $1,000 of coverage, effective 7/1/2018 – 6/30/2021.
Please quote a flat $15,000 of coverage, plus the alternative options of $20,000 and $25,000.
Note 1: There is no Basic AD&D coverage available to active Basic Life plan members. The premium history provided for AD&D is specific to Voluntary AD&D coverage only available to active members enrolled in voluntary life coverage.
Note 2: There is no Basic Dependent Life coverage available to active Basic Life plan members. The premium history provided for dependent life is specific to Voluntary Dependent Life coverage only available to active members enrolled in voluntary life coverage.
1.11 Certificate 642682_BL_C_CE 6-29-2021.pdf
BL-C is the certificate for Retiree Basic Life of a flat $7,500 and Additional Life in increments of $5,000-$50,000. This RFP is only for the Retiree Basic Life, not the additional life.
Due to state budget cuts, the retiree Basic Life plan changed to a flat $7,500 of coverage, effective 7/1/2021. The rate for this coverage changed to $0.566 per $1,000 of coverage. The rate is the same for Active and Retiree Basic Life coverage.
Prior to 7/1/2021, the retiree Basic Life plan was a flat $15,000 of coverage. The rate was $0.539 per $1,000 of coverage, effective 7/1/2018 – 6/30/2021. The rate was the same for Active and Retiree Basic Life coverage.
Please quote a flat $7,500 benefit, plus the alternative options of $10,000 and $12,000.
1.12 Certificate 642682_LT_D_CE 11-30-2016.pdf
This is the employer-paid LTD certificate that was in place through 6/30/2021 when due to budget cuts, the plan was terminated. Please re-quote this benefit on an employer-paid basis, as the State’s budget situation may allow for reinstatement of this plan. The LTD rate at the time of termination was $14.30 per employee per month.
1.13 State of NV - Board Meeting Recommendation 07-27-17.pdf
This summarizes the 2017 4-year contract extension with current rates documented.
1.14 The Standard Amendment #3.pdf
This is the current contract with rate history included.
File details come from the government source that posted it. Updated .