FedPoint Renews BENEFEDS Contract
Deal extends company's administration of federal benefits platform
Portsmouth, NH (October 18, 2022)—This June, New Hampshire-based benefits administrator FedPoint® was named the winner of a competitive bid awarded by the federal government to provide enrollment and premium administration services for BENEFEDS, an online benefits marketplace through which eligible members of the federal civilian workforce and military shop for, enroll in, and pay for voluntary benefits, including dental and vision plans offered by 17 different insurers under the Federal Dental and Vision Insurance Program (FEDVIP).
In addition to handling enrollment and premium administration for the FEDVIP, FedPoint—the incumbent contractor—will continue to provide customer service as well as open season management, an annual effort that requires onboarding more than 1,000 employees to manage call and transaction volumes during the federal government's busy open enrollment period in November and December. The BENEFEDS contract also administers the premium payment processes for the Federal Long Term Care Insurance Program (FLTCIP) and allotment processes for the Federal Flexible Spending Account Program (FSAFEDS), and is required to consistently satisfy more than 100 performance metrics annually.
Sponsored by the U.S. Office of Personnel Management (OPM), the new contract begins on January 1, 2023, and contains option years extending through the end of 2026.
"It's a privilege to continue supporting federal employees and members of the U.S. military through the BENEFEDS contract," said FedPoint COO Kevin Hill. "The renewal reflects FedPoint's attention to service and quality, and the appreciation our employees have demonstrated over the past decade and a half toward the complex mission of the federal family."
Headquartered in Portsmouth, NH, FedPoint has also administered the FLTCIP since the program's inception in 2002. Additionally, through a subcontract with MetLife, the firm created and manages the SEC Select platform, a voluntary benefit marketplace supporting MetLife's federal market.
"This is a company that takes a lot of pride in serving those who serve our country," said FedPoint CEO Paul Forte. "Our employees recognize the important role the federal benefits package plays in attracting and retaining top talent, and winning the renewal shows that feds recognize FedPoint as a partner that provides high caliber benefits administration services to our nation's federal civilian workforce, military, and their families. The contract means stability for FedPoint, new growth and learning opportunities for our workforce, and continued jobs and revenue for the Seacoast area. We look forward to building out our capabilities over the course of this contract and beyond."
For more information about BENEFEDS, visit BENEFEDS.com.
FedPoint®, founded in 2002, is a versatile administrator of large-scale insurance and benefit programs. Serving the federal civilian and uniformed services markets, FedPoint administers both the Federal Long Term Care Insurance Program and BENEFEDS under the oversight of the U.S. Office of Personnel Management (OPM). FedPoint is a trade name of the legal entity Long Term Care Partners, LLC®, a wholly owned subsidiary of John Hancock Life & Health Insurance Company. The company is located at Pease International Tradeport in Portsmouth, NH. It has long been active in charitable ventures supporting the Seacoast community.
For more information on FedPoint, visit fedpointusa.com.