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University of Minnesota·Minnesota

Group LTD/STD Insurance for Academic Health Science Students

Closes 10/10/2025$1M – $2MRequest for Proposal
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Description

The University of Minnesota is seeking a supplier to provide Group Long Term Disability (LTD) and Short Term Disability (STD) insurance for Academic Health Science students and Residents, Fellows, and Interns. The contract will be awarded to the respondent whose proposal is most advantageous to the University. The scope of work includes providing insurance coverage for the specified groups, with the option for individual guaranteed issue policies for the Residents, Fellows, and Interns group. • The University is looking for a supplier who can provide comprehensive insurance coverage for the specified groups. • The supplier must be able to provide individual guaranteed issue policies for the Residents, Fellows, and Interns group. • The contract will be awarded based on the respondent's proposal, with the University reserving the right to negotiate or reject any proposal. • The University is seeking a supplier who can provide high-quality insurance coverage and excellent customer service.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Sarah Erhardt

[email protected]

Key dates

Opened
9/4/2025
Questions due
9/12/2025
Closes
10/10/2025
Projected award
11/28/2025

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
524114
Solicitation №
10135.2361746.SE

Budget estimate

$1,000,000 – $2,000,000

The budget for this contract is difficult to estimate without more information about the number of individuals to be insured and the premium rates. However, based on industry standards, the annual premium for group long-term disability insurance can range from $200 to $500 per employee, and for short-term disability insurance, it can range from $100 to $300 per employee. Assuming an average annual premium of $350 per employee for long-term disability insurance and $200 per employee for short-term disability insurance, and an estimated 1,000 employees, the total annual premium would be approximately $550,000. Over a 3-year contract period, the total budget would be around $1,650,000. Factors that may influence the likely payment range include the number of employees, the premium rates, and the contract duration.

AI estimate from the solicitation

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