Att.B - Price Sheet.xlsx

XLSX spreadsheet 50 KB Posted May 16, 2023

Attached to: Group Term Life Insurance
Solicitation number: RFP-05291
Issued by: Leon County, Florida

About this file

Written by GovTribe AI · Jul 30, 2024

This document is the Attachment B - Price Sheet for a Request for Proposals (RFP) issued by the Florida Department of Management Services to establish a contract for Group Term Life insurance benefits. The RFP seeks rates for Basic Group Term Life Insurance coverage for Eligible Employees, Vested Legislators, Retired Employees, Spouses, and Dependent Children, as well as Optional Group Term Life Insurance for Active Employees. The RFP covers an initial 4-year term, with the option for 4 one-year renewal terms. The estimated annual spend for the contract is $36,300,000.

The document provides detailed pricing instructions and requirements, including that the Basic Group Term Life ($25,000) rate for Eligible Employees cannot exceed $3.58 per member per month for the initial term. Rates are to be provided to the third decimal place, with the initial term rates weighted at 90% and the renewal term rates weighted at 10%. The pricing sheet also includes estimated enrollment numbers for the various coverage types as of May 1, 2023.

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Other files

File	Type	Posted
Amended Form 1_RFP NO. DMS-2223-084.pdf	PDF	May 16, 2023
Att.A - Draft Contract_DMS-2223-084.pdf	PDF	May 16, 2023
Att.D - Data Use Agreement.pdf	PDF	May 16, 2023
Att.E - Technical Questions.xlsx	XLSX spreadsheet	May 16, 2023
Q&A Exhibit 1 - DSGI Life Enrollment.pdf	PDF	May 16, 2023
Att.5_Interface Files Layouts Enrollment.pdf	PDF	May 16, 2023
Q&A Exhibit 3 - Life Claim Experience.pdf	PDF	May 16, 2023
Addendum No.1_RFP NO. DMS-2223-084.pdf	PDF	May 16, 2023
Att.F - Respondent and Subcontractor Info.pdf	PDF	May 16, 2023
DMS-2223-084 Group Term Life Insurance_RFP.pdf	PDF	May 16, 2023
Q&A Exhibit 2 - Minnesota Life Vendor Pymts.pdf	PDF	May 16, 2023
Q&A Response_RFP NO. DMS-2223-084.pdf	PDF	May 16, 2023

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General Instructions

Instructions

Respondent shall provide a rate in each yellow shaded cell in Tabs 2 through 7 for the initial and renewal terms. Failure to provide a rate within a yellow shaded cell will result in the Respondent being deemed non-responsive. Respondent's rates shall be to the third decimal place. The initial term rates are for years one (1) through four (4) and shall be the dame rate for each initial term year, the renewal rates are for years five (5) through eight (8), and may be a different rate for each renewal term year. Tab 8 provides a summary of your response along with weighted rates. The weighting of the initial and renewal terms and the benefits is described below.

Not to Exceed Rate

The Basic Group Term Life ($25,000) rate for Eligible Employees (Tab B2) cannot exceed $3.58 per member per month for the initial term.

Weighting

Rates for the initial term will be given a weight of 90% and 10% for the renewal term.

The weighted initial and renewal term rates will be additional weighted in portion to each plans current enrollment.

&"-,Bold"ATTACHMENT B - PRICE SHEET

GENERAL INSTRUCTIONS

B2 Eligible Employees

Respondent's Legal Name

Primary Contact

Financial Reply Contact (if different)

Financial Reply Contact email

Basic Group Term Life Insurance Coverage for Eligible Employees

Life Insurance Benefit	$25,000
	Equal to life insurance benefit
Eligibility	Active Full-Time and	Rate per $1,000 per Month
	OPS Employees
Estimated Annual Enrollment1	151,983		Years	Premium Rate
		Initial 4	1 to 4
		Year Term

	Renewal	5
	Terms	6
		7
		8
1Enrollment as of May 01, 2023.

B2: BASIC GROUP TERM LIFE FOR ELIGIBLE EMPLOYEES

RFP No.: DMS 22/23-084 Group Term Life Insurance Page &P of &N

B3 Vested Legislator Basic Term Life Insurance Coverage for Vested Legislators

Life Insurance Benefit	$150,000	Rate per $1,000 per Month
	Equal to life insurance benefit
Eligibility	Vested Legislators		Years	Premium Rate
Estimated Annual Enrollment1	138	Initial 4	1 to 4
		Year Term
			5
		Renewal	6
		Terms	7
			8
1Enrollment as of May 01, 2023.

B3: GROUP TERM LIFE FOR VESTED LEGISLATORS

Group Term Life Insurance Page &P of &N

B4 Retired Employees

Basic Term Life Insurance Coverage for Retired Employees

Benefit Options of $2,500 or $10,000

Eligibility Retired Employees (must stay continuously covered)

Estimated Annual Enrollment1 12,019 Estimated Annual Enrollment1 16,397

$2,500 Coverage			$10,000 Coverage
Rate Per $1,000 Month			Rate Per $1,000 Month
	Year	Preium Rate		Year	Premium Rate
Initial 4			Initial 4
Year Term	1 to 4		Year Term	1 to 4
	5			5
Renewal	6		Renewal	6
Terms	7		Terms	7
	8			8
1Enrollment as of May 01, 2023.

B4: GROUP TERM LIFE COVERAGE FOR RETIRED EMPLOYEES

Group Term Life Insurance Page &P of &N

B5 Spouses

Spouse Term Life Insurance Coverage

Benefit Options of $15,000 or $20,000

Eligibility Spouses of Eligible Employees and Vested Legislators

Estimated Annual Enrollment1 2,861 Estimated Annual Enrollment1 11,067

$15,000 Coverage			$20,000 Coverage
Rate Per $1,000 Month			Rate Per $1,000 Month
	Year	Preium Rate		Year	Premium Rate
Initial 4			Initial 4
Year Term	1 to 4		Year Term	1 to 4
	5			5
Renewal	6		Renewal	6
Terms	7		Terms	7
	8			8
1Enrollment as of May 01, 2023.

B5: GROUP TERM LIFE FOR SPOUSES

Group Term Life Insurance Page &P of &N

B6 Dependent Child Dependent Child Term Life Insurance Coverage

Benefit	$10,000	Rate Per $1,000 Month (covers all children in a family)
Eligibility	Dependent Children of Eligible
	Employees and Vested Legislators		Year	Premium Rate
Estimated Annual Enrollment1	24,365	Initial 4
		Year Term	1 to 4
			5
		Renewal	6
		Terms	7
			8
1Enrollment as of May 01, 2023.

B6: GROUP TERM LIFE FOR DEPENDENT CHILD

Group Term Life Insurance Page &P of &N

B7 Optional Group Term Life

ATTACHMENT B - PRICE SHEET

B7: OPTIONAL GROUP TERM LIFE

Optional Term Life Insurance Coverage for Active Employees

	Multiple of 1 to 7 times annual earnings up to $1 million maximum
Life Insurance Benefit	Equal to life insurance benefit

Eligibility Active Full-Time, Part-Time Employees

Estimated Annual Enrollment 38,995

Initial Term - Years 1 to 4		Premium Rate
Rate per $1,000
Active Employees	Estimated
	Enrollment1
< 30	2,033
30 - 34	2,841
35 - 39	4,243
40 - 44	5,447
45 - 49	5,835
50 - 54	6,649
55 - 59	5,896
60 - 64	4,088
65 - 69	1,501
≥70	462
Renewal Term - Year 5		Premium Rate
Rate per $1,000
Active Employees	Estimated
	Enrollment1
< 30	2,033
30 - 34	2,841
35 - 39	4,243
40 - 44	5,447
45 - 49	5,835
50 - 54	6,649
55 - 59	5,896
60 - 64	4,088
65 - 69	1,501
≥70	462
Renewal Term - Year 6		Premium Rate
Rate per $1,000
Active Employees	Estimated
	Enrollment1
< 30	2,033
30 - 34	2,841
35 - 39	4,243
40 - 44	5,447
45 - 49	5,835
50 - 54	6,649
55 - 59	5,896
60 - 64	4,088
65 - 69	1,501
≥70	462
Renewal Term - Year 7		Premium Rate
Rate per $1,000
Active Employees	Estimated
	Enrollment1
< 30	2,033
30 - 34	2,841
35 - 39	4,243
40 - 44	5,447
45 - 49	5,835
50 - 54	6,649
55 - 59	5,896
60 - 64	4,088
65 - 69	1,501
≥70	462
Renewal Term - Year 8		Premium Rate
Rate per $1,000
Active Employees	Estimated
	Enrollment1
< 30	2,033
30 - 34	2,841
35 - 39	4,243
40 - 44	5,447
45 - 49	5,835
50 - 54	6,649
55 - 59	5,896
60 - 64	4,088
65 - 69	1,501
≥70	462
1Enrollment as of May 01, 2023.

B7: OPTIONAL GROUP TERM LIFE

Group Term Life Insurance Page &P of &N

B8 Summary

	90%		10%
	Initial Term Year		Renewal Term Year
	1 to 4	Average	5	6	7	8	Average	Weighted
Basic Life for Eligible Employees	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Vested Legislator Life Insurance	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Retired Employees $2,500 Life Insurance	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Retired Employees $10,000 Life Insurance	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Spouse $15,000 Life Insurance (PSPM)1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Spouse $20,000 Life Insurance (PSPM)1	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Dependent Child Life Insurance (PCPM)2	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
Optional Active Life Insurance	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.000	$0.000
1Per Spouse Per Month

2Per Child Per Month

Blended Premium per $1,000 per Month
	Premium
	per $1,000
Blended Premium	$0.000

*Estimated premiums are for comparison purposes only and are based on current enrollment and coverages as well as estimated spouse coverage. Actual premiums will be based on actual enrollment and elections.

B8: RESPONSE SUMMARY AND WEIGHTING

Group Term Life Insurance Page &P of &N

File details come from the government source that posted it. Updated Jul 30, 2024.