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  5. ›STC SUPPLEMENTAL BENEFITS

South Carolina Materials Mgmt Ofc·South Carolina

STC SUPPLEMENTAL BENEFITS

Closes 9/1/2026$10M – $25MRequest for Proposal
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Description

The State of South Carolina is seeking a vendor to provide a statewide term contract for supplemental, voluntary insurance benefits that complement the existing public employee benefits administered by SC PEBA. The contractor will design, market, enroll, and administer short‑term disability, whole‑life, accident, critical‑illness, hospital indemnity, and pet insurance products, handling all claims, payroll‑deduction integration, data‑security, and quarterly reporting. No commissions may be paid; the State will pay an administrative services fee of 1.25 % of total purchases. The contract is a five‑year term with up to four one‑year renewals. • Develop and distribute enrollment and education materials (print and electronic) at no cost to the State. • Provide full claims administration, eligibility exchange, and payroll‑deduction services for all supplemental products. • Maintain robust data‑security and privacy controls, complete the required security questionnaire, and carry specified insurance coverages. • Submit quarterly usage reports and remit a 1.25 % administrative services fee; pricing must be firm‑fixed and net of commissions.

Attached files

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

Contact

Portia Davis(Procurement Officer)

[email protected]

(803) 737-5473

Key dates

Opened
5/15/2026
Questions due
5/27/2026
Pre-bid meeting
5/27/2025
Closes
9/1/2026
Projected award
8/18/2026
Duration
5 years

Last updated

Details

Type
Request for Proposal
Industry
Insurance
NAICS
524113
Solicitation №
5400028531

Budget estimate

$10,000,000 – $25,000,000

The contract covers a statewide supplemental‑benefits program for all South Carolina public employees, with an estimated 200,000+ participants and multiple product lines. Assuming an average annual premium of $200 per employee (a modest figure for voluntary supplemental coverage) and a 1.25 % administrative fee, total annual revenues could range from $40 million to $60 million. After accounting for operating costs, profit margins for an insurer/administrator (10‑20 %) would translate to $4‑12 million per year, yielding a 5‑year contract value of roughly $20‑60 million. Given uncertainties in enrollment and pricing, a conservative estimate for the vendor’s earnings is $10‑25 million over the contract term.

AI estimate from the solicitation

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