Stop Loss Services

Background
The Suffolk City School Board is seeking proposals for stop loss services to support Suffolk Public Schools. This initiative aims to manage financial risk associated with high-cost claims in the school division's health insurance plan, ensuring that the schools can provide necessary health benefits while controlling costs.

Work Details
The contractor will provide stop loss insurance services, which includes:

1. Coverage for excess claims above a specified threshold to protect the school division from catastrophic losses.
2. Assistance in managing and processing claims efficiently.
3. Regular reporting on claims activity and trends to help the school board make informed decisions regarding their health insurance plan.
4. Support in compliance with applicable laws and regulations related to health insurance and stop loss coverage.

Period of Performance
The initial term of the contract will begin on January 1, 2025, and end on December 31, 2025. The contract may be extended for up to four additional one-year periods, subject to mutual agreement.

Place of Performance
The services will be performed for Suffolk Public Schools located at 100 N. Main Street, 2nd Floor, Suffolk, Virginia 23434.