UT Group Insurance Plans and the Competitive Bid Process

Under state law, the UT System Office of Employee Benefits (OEB) is required to request and evaluate competitive proposals from vendors at least once every six years for each insurance plan offered as a part of the UT Benefits program. This process ensures that vendors contracting with UT System offer plans and services that are competitive in the current marketplace and that UT System plan participants continue to receive the best possible benefits at the lowest possible overall cost.

The bid process also ensures that UT System can specify updated requirements that must be met by contracting vendors. This allows the opportunity to maintain popular plan design features whenever possible and for adjusting those areas that may need to change. New requirements may be based on participant experiences or can be enhancements or newer options that were not available when prior contracts were signed.

UPCOMING COMPETITIVE BIDS

This fall, OEB will release Request for Proposals (RFP) seeking bids from qualified companies to offer:

• Group Term Life and Accidental Death and Dismemberment,; and

• UT FLEX - Flexible Spending Accounts for Medical and Dependent Day Care.

The vendors selected will provide customer service, underwriting, claims processing, and other administrative services.

After vendors are selected, OEB will make the announcement in an upcoming newsletter. Watch for important details regarding the selections as well as potential changes impacting Annual Enrollment options and/or plan designs.

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For more information about your UT Benefits program, please visit our website at www.utsystem.edu/offices/employee-benefits.