7.1.1 Contractor shall accept the fiduciary responsibility for the Medical and Pharmacy Insurance Plans in the case of awarding a self-funded contract. 7.1.2 The Contractor shall guarantee the premium rates and administration fees for the initial two (2) year term of the Contract. For Self-Funded arrangements, guarantee of premium rates and fees, with minimal increases (2-4%) in the optional renewal years. 7.1.3 Contractor shall provide the State with a Fidelity/Crime Bond in the minimum amount of five (5) million dollars per occurrence. 7.1.4 Contractor shall have the ability to provide a statewide medical and pharmacy network and administer its proposed plan designs within the timelines stated in the RFP. 7.1.5 Contractor shall have access to a national provider network for the State’s medical and pharmacy plan(s). 7.1.6 Contractor shall have a minimum of ten (10) years’ current experience serving large public sector clients and union groups and have current experience providing similar medical and pharmacy benefit plan administration to at least one other employer with 20,000 or more employees. 7.1.7 Contractor shall maintain a dedicated toll-free telephone number to respond to Member inquires as well as a toll-free TDD line for hearing impaired Members available 8:00 a.m. – 6:00 p.m. Central Time, Monday through Friday. 7.1.8 Contractor shall provide a dedicated account representative for the State of Iowa services defined in this RFP. Dedicated is defined as 75% of the account representative’s time shall be exclusively spent providing State of Iowa services.
