Metlife Response BAFO cost.pdf
PDF 93 KB Posted
- Solicitation number
- 120084 O5
- Issued by
- Lancaster County, Nebraska
About this file
This document is a Cost Proposal from MetLife for the State of Nebraska's Request for Proposal (RFP 120084 O5) for Short-Term Disability (STD) and Long-Term Disability (LTD) insurance services. The proposal covers insurance rates for state employees across different age groups, with an estimated 17,221 employees eligible for coverage. The STD plan offers first-day accident and eighth-day illness coverage at 60% income replacement for up to six months, while the LTD plan provides a six-month elimination period with 60% income replacement. The initial contract term is from July 1, 2025, through June 30, 2027, with three optional one-year renewal periods.
The cost proposal details rates per $10 of weekly benefit for STD and per $100 of monthly covered payroll for LTD, segmented by employee age groups ranging from under 25 to 70 and over. The pricing structure includes fixed rates for the first two years of the contract, with potential price increases limited to 4% for subsequent years. The program is 100% voluntary, with employees paying full premiums through post-tax deductions. The current annual contract value is approximately $3.1 million, with existing enrollment of 3,100 employees in STD and 5,763 in LTD coverage. MetLife's proposal emphasizes that if their Voluntary Benefit package is bundled with STD and LTD, additional considerations may apply.
View the file
Other files
Show 40 more
Latest 50 of 146 listed here. See the rest on GovTribe.
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
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 .