SEC's $20.1M Supplemental Health Benefits Program Contract Awarded to Benalytics Consulting Group

Contract Overview

Contract Amount: $20,121,081 ($20.1M)

Contractor: Benalytics Consulting Group, LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2009-08-19

End Date: 2015-12-31

Contract Duration: 2,325 days

Daily Burn Rate: $8.7K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 6

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: SUPPLEMENTAL HEALTH BENEFITS PROGRAM

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20549

State: District of Columbia Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $20.1 million to BENALYTICS CONSULTING GROUP, LLC for work described as: SUPPLEMENTAL HEALTH BENEFITS PROGRAM Key points: 1. Contract value of $20.1 million over its period of performance. 2. Awarded under full and open competition, indicating a competitive bidding process. 3. The contract spans over 6 years, suggesting a long-term need for services. 4. The North American Industry Classification System (NAICS) code 524210 points to Insurance Agencies and Brokerages.

Value Assessment

Rating: fair

The contract's value of $20.1 million over 6 years appears reasonable for a comprehensive benefits program. Benchmarking against similar government contracts for health benefits administration would provide a clearer picture of its cost-effectiveness.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded through full and open competition, which typically fosters competitive pricing and allows for a wide range of potential contractors to bid. This method is expected to yield fair market prices.

Taxpayer Impact: The competitive nature of the award suggests that taxpayers are likely receiving a fair price for the services rendered under this contract.

Public Impact

Ensures health benefits for SEC employees and potentially their dependents. Supports the operational capacity of the Securities and Exchange Commission by providing essential employee services. The long duration of the contract implies stability in benefit provision.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Long contract duration (6 years) could lead to price increases or service stagnation if not managed effectively.
Lack of specific performance metrics in the provided data makes it difficult to assess service quality.
Potential for vendor lock-in given the duration and specialized nature of benefits administration.

Positive Signals

Awarded through full and open competition, suggesting a competitive pricing environment.
Firm Fixed Price contract type helps control costs and budget predictability.
The contract supports a critical function for employee well-being and retention.

Sector Analysis

The contract falls under the Insurance Agencies and Brokerages sector (NAICS 524210). Spending in this sector for government services often relates to employee benefits, risk management, and administrative support. Benchmarks would typically compare administrative fees and program management costs.

Small Business Impact

The data does not indicate whether small businesses were involved in this contract, either as prime contractors or subcontractors. Further analysis would be needed to determine small business participation.

Oversight & Accountability

The Securities and Exchange Commission (SEC) is the awarding agency, implying internal oversight. However, the specific oversight mechanisms and accountability measures for this contract are not detailed in the provided data.

Related Government Programs

Insurance Agencies and Brokerages
Securities and Exchange Commission Contracting
Securities and Exchange Commission Programs

Risk Flags

Long contract duration may limit flexibility and potentially increase costs over time.
Lack of detailed performance metrics makes assessing service quality difficult.
Potential for vendor lock-in due to specialized services and contract length.
No information on small business participation.

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $20.1 million to BENALYTICS CONSULTING GROUP, LLC. SUPPLEMENTAL HEALTH BENEFITS PROGRAM

Who is the contractor on this award?

The obligated recipient is BENALYTICS CONSULTING GROUP, LLC.

Which agency awarded this contract?

Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).

What is the total obligated amount?

The obligated amount is $20.1 million.

What is the period of performance?

Start: 2009-08-19. End: 2015-12-31.

What is the specific scope of 'Supplemental Health Benefits' covered under this contract?

The provided data does not detail the specific services included in the 'Supplemental Health Benefits Program.' Typically, such programs might cover areas like dental, vision, or other specialized health services not fully covered by standard health insurance. A thorough review of the contract's statement of work would be necessary to ascertain the precise coverage and ensure it aligns with employee needs and agency budget.

How does the per-unit cost of administering these benefits compare to industry benchmarks?

Without specific data on the number of beneficiaries or the exact services provided, a direct per-unit cost comparison is not feasible. However, the contract's total value of $20.1 million over approximately 2325 days (6.37 years) suggests an average annual cost of roughly $3.15 million. Benchmarking this against administrative fees charged by similar insurance brokers for comparable government or large corporate benefit programs would be the next step in assessing value.

What mechanisms are in place to ensure the quality and effectiveness of the services provided by Benalytics Consulting Group?

The provided data does not specify the quality assurance or performance monitoring mechanisms for this contract. Given the firm fixed price structure and long duration, the SEC likely relies on periodic reviews, performance reports, and potentially user feedback. Robust oversight would involve clearly defined performance standards, regular audits, and clear procedures for addressing any service deficiencies to ensure program effectiveness.

Industry Classification

NAICS: Finance and Insurance › Agencies, Brokerages, and Other Insurance Related Activities › Insurance Agencies and Brokerages

Product/Service Code: SOCIAL SERVICES › SOCIAL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Solicitation ID: SECHQ1-09-R-0076

Offers Received: 6

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 1290 KENNESTONE CIR STE A201, MARIETTA, GA, 30066

Business Categories: Black American Owned Business, Category Business, Limited Liability Corporation, Minority Owned Business, Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $20,121,081

Exercised Options: $20,121,081

Current Obligation: $20,121,081

Contract Characteristics

Commercial Item: COMMERCIAL ITEM

Cost or Pricing Data: NO

Timeline