Metlife Response BAFO cost.pdf
PDF 93 KB Posted
- Solicitation number
- 120084 O5
- Issued by
- Lancaster County, Nebraska
About this file
This is a cost proposal submitted by MetLife in response to RFP 120084 O5 BAFO for Short Term Disability (STD) and Long Term Disability (LTD) insurance plan options for the State of Nebraska. The document outlines premium rates for both STD and LTD coverage across multiple age brackets, with an initial contract period of two years and three optional renewal periods. The STD coverage includes first-day accident and eighth-day illness coverage, while the LTD has a 6-month elimination period.
The pricing structure shows STD rates per $10 of weekly benefit ranging from $0.22 to $0.48 in the initial period, with slight increases in optional renewal periods. LTD rates per $100 of monthly covered payroll range from $0.04 to $0.40 initially, also with minor increases during renewal periods. Premium rates are fixed for the first two years, with subsequent increases capped at 4% per period. Monthly premiums must be evenly divisible by 2 to accommodate payroll deductions, and the coverage provides 60% of basic gross monthly pay. The document notes that these rates may be affected if MetLife's Voluntary Benefit package is bundled with the STD and LTD coverage.
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Text version
SHORT TERM DISABILITY INSURANCE,
1ST DAY ACCIDENT, 8TH DAY ILLNESS
Estimated # of Employees
Initial Period Year One
Initial Period Year Two
Optional Renewal
One
Optional Renewal
Two
Optional Renewal
Three
Rate per $10 of Weekly Benefit
Under 25 202 $0.28 $0.28 $0.28 $0.29 $0.29
25-29 330 $0.26 $0.26 $0.26 $0.27 $0.27
30-34 358 $0.28 $0.28 $0.28 $0.29 $0.29
35-39 361 $0.22 $0.22 $0.22 $0.23 $0.23
40-44 433 $0.24 $0.24 $0.24 $0.25 $0.25
45-49 362 $0.24 $0.24 $0.24 $0.25 $0.25
50-54 412 $0.28 $0.28 $0.28 $0.29 $0.29
55-59 357 $0.34 $0.34 $0.34 $0.35 $0.35
60-64 249 $0.42 $0.42 $0.42 $0.44 $0.44
65 & Over 86 $0.48 $0.48 $0.48 $0.50 $0.50
LONG TERM DISABILITY INSURANCE,
6 MONTH ELIMINATION PERIOD
Estimated # of Employees
Initial Period Year One
Initial Period Year Two
Optional Renewal
One
Optional Renewal
Two
Optional Renewal
Three
Rate per $100 of Monthly Covered Payroll
Under 25 221 $0.04 $0.04 $0.04 $0.04 $0.04
25-29 478 $0.06 $0.06 $0.06 $0.06 $0.06
30-34 551 $0.10 $0.10 $0.10 $0.10 $0.10
35-39 627 $0.12 $0.12 $0.12 $0.12 $0.12
40-44 749 $0.14 $0.14 $0.14 $0.15 $0.15
45-49 669 $0.20 $0.20 $0.20 $0.21 $0.21
50-54 749 $0.30 $0.30 $0.30 $0.31 $0.31
55-59 747 $0.34 $0.34 $0.34 $0.35 $0.35
60-64 715 $0.36 $0.36 $0.36 $0.37 $0.37
65-69 248 $0.38 $0.38 $0.38 $0.40 $0.40
70 & Over 43 $0.40 $0.40 $0.40 $0.42 $0.42
Please note that if MetLife's Voluntary Benefit package is bundled with the STD and LTD, Prices submitted on the cost sheet, once accepted by the State, shall remain fixed for the first two (2) years of the contract. Any request for a price increase subsequent to the first two (2) years of the contract shall not exceed four percent (4 %) of the price proposed for the period.
Increases shall not be cumulative and will only apply to that period of the contract. The request for a price increase must be submitted in writing to the State Purchasing Bureau a minimum of 120 days prior to the end of the current contract period. Documentation may be required by the State to support the price increase.
Each monthly premium amount proposed should be evenly divisible by "2" with no rounding to accommodate two even deductions per month through our payroll system. Any premium amount not divisible by “2” will be reduced to the nearest lower amount that is divisible by “2” for scoring. By submitting this proposal, Bidder accepts this lower amount if a contract is awarded.
This is the rate an employee will pay for 60% of basic gross monthly pay.
Bidders shall fill in proposed premium amounts for each column provided below.
COST PROPOSAL
RFP 120084 O5 BAFO
STD AND LTD INSURANCE PLAN OPTIONS
Bidder Name: MetLife
File details come from the government source that posted it. Updated .