State Dept. Awards $421K for Medical Insurance in May 2026
Contract Overview
Contract Amount: $42,177 ($42.2K)
Contractor: Bulstrad Life Vienna Insurance Group EAD
Awarding Agency: Department of State
Start Date: 2026-04-07
End Date: 2026-05-31
Contract Duration: 54 days
Daily Burn Rate: $781/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 3
Pricing Type: FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT
Sector: Healthcare
Official Description: HR-LES MEDICAL-ESTIMATE FOR MAY 2026
Plain-Language Summary
Department of State obligated $42,176.91 to BULSTRAD LIFE VIENNA INSURANCE GROUP EAD for work described as: HR-LES MEDICAL-ESTIMATE FOR MAY 2026 Key points: 1. Contract value is $421,769.10 for a 54-day period. 2. Awarded to BULSTRAD LIFE VIENNA INSURANCE GROUP EAD. 3. Competition was full and open, suggesting potential for competitive pricing. 4. NAICS code 524114 indicates the sector is Direct Health and Medical Insurance Carriers.
Value Assessment
Rating: fair
The contract is a fixed-price award with economic price adjustment. Without specific benchmarks for this type of specialized medical insurance for a short duration, a precise value assessment is difficult. However, the value appears reasonable for the service period.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, which typically allows for the widest range of potential bidders and can lead to better price discovery. The use of a delivery order suggests this is part of a larger contract vehicle.
Taxpayer Impact: Taxpayer funds are used for essential medical insurance services. The competitive nature of the award aims to ensure efficient use of these funds.
Public Impact
Ensures medical coverage for personnel during the specified period. Supports the operational readiness of the Department of State. Provides a safety net for potential medical emergencies.
Waste & Efficiency Indicators
Waste Risk Score: 78 / 10
Warning Flags
- Economic price adjustment could lead to cost increases.
- Short contract duration may limit long-term planning.
- Dependence on a single vendor for a critical service.
Positive Signals
- Full and open competition utilized.
- Clear service dates and estimated value provided.
- Awarded to a known insurance carrier.
Sector Analysis
The sector is health and medical insurance carriers. Spending in this sector is driven by demand for health services and insurance products, with government contracts often focused on providing coverage for personnel or specific programs.
Small Business Impact
There is no indication that small businesses were involved in this specific award, as it was made to a larger insurance group. Future solicitations could explore opportunities for small business participation.
Oversight & Accountability
The Department of State is responsible for oversight of this contract. Standard procurement regulations and contract management practices should ensure accountability and proper execution of services.
Related Government Programs
- Direct Health and Medical Insurance Carriers
- Department of State Contracting
- Department of State Programs
Risk Flags
- Potential for cost overruns due to EPA.
- Limited duration may require follow-on contracts.
- Lack of small business participation.
- Dependence on a single vendor for critical service.
Tags
direct-health-and-medical-insurance-carr, department-of-state, delivery-order, under-100k
Frequently Asked Questions
What is this federal contract paying for?
Department of State awarded $42,176.91 to BULSTRAD LIFE VIENNA INSURANCE GROUP EAD. HR-LES MEDICAL-ESTIMATE FOR MAY 2026
Who is the contractor on this award?
The obligated recipient is BULSTRAD LIFE VIENNA INSURANCE GROUP EAD.
Which agency awarded this contract?
Awarding agency: Department of State (Department of State).
What is the total obligated amount?
The obligated amount is $42,176.91.
What is the period of performance?
Start: 2026-04-07. End: 2026-05-31.
What is the typical cost for similar short-term medical insurance policies for government personnel?
Determining a precise benchmark for short-term government medical insurance is challenging due to variations in coverage, location, and specific policy terms. However, comparing the per-diem cost against broader group health insurance rates, adjusted for the specialized nature and short duration, can provide an estimate. Without more granular data on the policy's benefits and the covered population, a definitive benchmark is difficult to establish.
What are the risks associated with the economic price adjustment clause in this contract?
The economic price adjustment (EPA) clause allows for changes in contract price based on fluctuations in specific economic factors, such as inflation or material costs. The primary risk is that these adjustments could lead to the final cost exceeding the initial estimate, potentially increasing taxpayer burden. The extent of this risk depends on the specific economic indicators tied to the EPA and the volatility of those indicators during the contract period.
How effectively does this contract meet the Department of State's medical insurance needs for the specified period?
The contract's effectiveness hinges on the adequacy of the coverage provided by BULSTRAD LIFE VIENNA INSURANCE GROUP EAD and its ability to meet the medical needs of the intended beneficiaries during the 54-day period. Assuming the policy was selected through a competitive process that vetted its terms and the vendor's capability, it should effectively address immediate medical insurance requirements. Post-award monitoring would confirm actual service delivery and beneficiary satisfaction.
Industry Classification
NAICS: Finance and Insurance › Insurance Carriers › Direct Health and Medical Insurance Carriers
Product/Service Code: SOCIAL SERVICES › SOCIAL SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 3
Pricing Type: FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT (K)
Evaluated Preference: NONE
Contractor Details
Address: 6 SVETA SOFIA STR., SOFIA
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Foreign Owned, Not Designated a Small Business, Special Designations
Financial Breakdown
Contract Ceiling: $42,177
Exercised Options: $42,177
Current Obligation: $42,177
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 19CY6026D0001
IDV Type: IDC
Timeline
Start Date: 2026-04-07
Current End Date: 2026-05-31
Potential End Date: 2026-05-31 00:00:00
Last Modified: 2026-04-07
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