Third Party Administration Service for Group Vision Insurance Plan

Overview

Financial, Legal, HR & Staffing

Iowa, United StatesPosted about 1 month agoDeadline: April 30th, 2026

Fit Score

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SUMMARY

Seeking a third party administrator to provide and manage a fully insured group vision insurance plan with nationwide provider access for employees, retirees, and dependents.

KEY REQUIREMENTS

Must hold all necessary licenses and regulatory approvals to provide vision insurance in the State of Iowa
Must provide access to a nationwide network of vision care providers
Must assume fiduciary responsibility for administering the vision insurance plan
Must guarantee proposed premium rates for the initial two-year contract term
Must have at least five years of experience providing vision insurance services within the State of Iowa
Must ensure member and claims information is stored within the contiguous United States
Must maintain a Fidelity or Crime Bond of at least $2 million per occurrence if administering plan funds
Must have provided vision plan services of similar size and scope (10,000+ covered employees) during the last five years
Must be able to send and receive eligibility files within the State's Workday platform using HIPAA 834 file format

BUDGET

Estimate

$1,500,000 – $3,000,000

CONTRACT DURATION

72 months

TIMELINE

State Posts Notice of RFP: March 27th, 2026

State Issues RFP: March 29th, 2026

RFP written questions due: April 14th, 2026

Addendum Posted: April 17th, 2026

Proposals Due: April 30th, 2026

Annual Enrollment Period Begins: October 1st, 2026

Plan Year Begins: January 1st, 2027

QUESTION DEADLINE

April 14th, 2026

Issuing Agency

Iowa Department Of Administrative Services

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DESCRIPTION

The selected vendor will provide third party administration services for a group vision insurance plan, including a fully insured, voluntary option for eligible employees, retirees, and their eligible dependents. The scope of work includes offering a single vision plan option, administering a fully-insured funding arrangement, and proposing premium rates on a three-tier basis.

Services must include access to a nationwide network of vision care providers, ensuring comprehensive coverage for all members. The vendor will be responsible for securely storing member and claims information in compliance with applicable data protection protocols. All vendor questions regarding the RFP must be submitted by April 14, 2026.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.