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PROPOSED CONTRACT
Department(s): Risk Management
Vendor: Optum Financial, Inc., Hunt Valley, Maryland
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Healthcare Flexible Spending Account (HFSA), Dependent Care Flexible Spending Account (DCFSA) and Commuter Benefits Program Administration
Contract Value: $492,723.00
Contract period: 12/1/2022 - 11/30/2025, with (2) two, (2) two-year renewal options
Potential Fiscal Year Budget Impact: FY 2023 $164,241, FY 2024 $164,241, FY 2025 $164,241
Accounts: 11100.1499.580452
Contract Number(s): 2105-08123
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via direct participation with full MBE/WBE waiver.
The Chief Procurement Officer concurs.
Summary: The Department of Risk Management is requesting authorization for the Chief Procurement Officer to enter into a contract with Optum Financial, Inc. (formerly known as Connect Your Care, Inc.) This contract will provide the following services currently offered to Cook County employees: Healthcare Flexible Spending Account (HSFA), Dependent Care Flexible Spending Account (DCFSA) and Commuter Benefits programs. This contract is awarded through Request for Proposals (RFP) procedures in accordance with Cook County Procurement Code. Optum Financial, Inc was selected based on established evaluation criteria.
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