Life and Disability Insurance for the Public Employees' Benefits Program (PEBP)

The State of Nevada Department of Administration Purchasing Division, on behalf of the Public Employees' Benefits Program (PEBP), is seeking proposals from qualified vendors to provide Basic Life Insurance for active and retiree members, as well as a possible reinstatement of Long Term Disability (LTD) insurance for active members. The resulting contract will have an initial term of four (4) years with an option to extend for two (2) additional years, anticipated to begin implementation in the first quarter of 2022 with an official administrative start date of July 1, 2022. The key objectives are to partner with an insurer who will provide administrative support and accuracy in claims processing for both PEBP and insureds. The evaluation criteria include Qualifications and Experience (10%), Technical (20%), Customer Service (25%), Financial (35%), and Finalist Presentations (10% - may be waived). The State reserves the right to negotiate best and final offers and award the contract to the vendor whose proposal is determined to be the most advantageous.

The contract opportunity does not specify any set-aside designations or restrictions on the types of organizations that can respond. The current incumbent carrier is The Standard, who has provided the existing life and disability insurance coverage for PEBP. 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 State has not provided any details on the potential award value or budget range for this contract opportunity.