SOLICITATION NOTICE
R -- Short/Long Term Disability Insurance
- Notice Date
- 4/10/2007
- Notice Type
- Solicitation Notice
- NAICS
- 524114
— Direct Health and Medical Insurance Carriers
- Contracting Office
- Department of the Treasury, Comptroller of the Currency (OCC), Acquisition Management (AQM), 250 E Street, SW Mail Stop 4-13, Washington, DC, 20219, UNITED STATES
- ZIP Code
- 00000
- Solicitation Number
- CC-07-HQ-R-0041
- Response Due
- 4/24/2007
- Archive Date
- 5/11/2007
- Description
- This is a presolicitation notice for the Department of Treasury, OCC Short-Term and Long-Term Diability Insurance. The OCC is seeking an experienced and qualified Contractor to underwrite and administer its Short-Term Disability (STD) and Long-Term Disability (LTD) Insurance Programs. The Contractor shall administer these programs from an integrated disability management approach to ease the transition from STD to LTD. Also, this integrated approach will aid in return to work efforts, rehabilitative employment, and early social security notice. Currently, these programs are underwritten and administered separately by two different insurance companies. OCC?s objective is to award only one contract to a single Contractor. Under the OCC STD program, the weekly benefit is 60 percent of weekly earnings up to a weekly maximum benefit amount of $2,307. There is an elimination period of seven (7) calendar days for illness or injury and the maximum benefit period is 13 weeks. Employees are required to exhaust all of their accumulated sick leave and any leave that has been donated to them from other employees prior to receiving STD benefits. During the period for which an employee is receiving STD benefits, the premium is waived. Not all OCC employees will have a need for this coverage because many of them have accrued enough paid sick leave to cover their absence during a period of short-term disability, which is the first 13 weeks of their disability. OCC employees accrue four (4) hours of sick leave per biweekly pay period and can accumulate up to an unlimited amount. Therefore, even though the OCC employs approximately 2,900 employees, only 1,659 employees are targeted as potential enrollees based on their sick leave balance being less than 585 hours of sick leave. Currently, 524 employees are enrolled in the program. The OCC hires approximately 150 to 200 employees every year and it would be expected that at least 50 percent of those newly hired employees would elect STD coverage. Under the OCC LTD program, the elimination period is 90 days and the benefit is 60 percent of monthly earnings, up to a maximum of $10,000 a month. The LTD benefit is offset by other income benefits (e.g. federal retirement benefits and social security benefits, etc.) and provides for a minimum monthly disability benefit of $100. A FORMAL REQUEST FOR PROPOSAL WILL BE POSTED ON/BEFORE MAY 1, 2007. All responsible insurance carrier, please submit questions to Cheryl Battle by April 24.
- Place of Performance
- Address: 250 E Street, SW, Washington, DC
- Zip Code: 20219
- Country: UNITED STATES
- Zip Code: 20219
- Record
- SN01270366-W 20070412/070410221429 (fbodaily.com)
- Source
-
FedBizOpps Link to This Notice
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