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  5. ›Group LTD/STD Insurance for Academic Health Science Students

University of Minnesota·Minnesota

Group LTD/STD Insurance for Academic Health Science Students

Closes 10/10/2025$500k – $2MRequest for Proposal
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Description

The University of Minnesota is seeking proposals for Group Long Term Disability (LTD) and Short Term Disability (STD) insurance for students enrolled in Academic Health Science degree programs and for Residents, Fellows, and Interns. The successful bidder will provide insurance coverage for these groups. The proposal should include information about the insurance plan, pricing, and any additional services offered. • The University is looking for a provider that can offer a comprehensive insurance plan that meets the needs of the Academic Health Science students and the Residents, Fellows, and Interns. • The proposal should include information about the provider's experience in offering similar insurance plans. • The University is also looking for a provider that can offer competitive pricing and flexible payment options. • The proposal should include information about the provider's customer service and support.

Attached files

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

Contact

Sarah Erhardt(Purchasing Services)

[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 Addendum 1

Budget estimate

$500,000 – $2,000,000

The budget for this opportunity is difficult to estimate, as it depends on the number of students and staff enrolled in the insurance plan, as well as the premium rates charged by the provider. However, based on industry standards, a rough estimate for the annual premium revenue for a group disability insurance plan could be in the range of $500,000 to $2,000,000. This estimate is based on the assumption that the plan will cover around 1,000 to 5,000 students and staff, with an average premium rate of $500 to $1,000 per person per year. Factors that may influence the likely payment range include the level of coverage provided, the deductible and copayment amounts, and the administrative fees charged by the provider.

AI estimate from the solicitation

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