120084 O5 Cost Proposal.xlsx

This document is a Cost Proposal for RFP 120084 O5 for Short Term Disability Insurance and Long Term Disability Insurance plan options. The State is seeking proposals for these insurance plan offerings. Bidders are required to provide proposed premium amounts for each age bracket under the two insurance types, with the rates remaining fixed for the first two years of the contract. Any subsequent price increases are capped at 4% and must be submitted 120 days prior to the end of the current contract period. The contract term includes an initial period of two years and up to three optional one-year renewal periods.

The pricing structure requires the monthly premium amounts to be evenly divisible by 2 to accommodate the payroll deduction process. If a proposed amount is not divisible by 2, it will be reduced to the nearest lower amount that is divisible by 2 for scoring purposes. Bidders must accept this reduced amount if awarded the contract.