Project Information

Bid Title

RFP 26-019 Pharmacy Benefits Management

Issuing Agency

Arkansas Tech University

Location

Arkansas

Published Date

May 11, 2026

Closing Date

Jun 8, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Open Date	Job Description	Status
June 8, 2026 5 p.m.	RFP 26-019 Pharmacy Benefits Management	Open

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Request for Proposal

Request for Proposal

for

Prescription Drug Management

RFP# 26-019

Russellville Arkansas

Advisors:

Tom Kane, Executive Vice President, Director – Tom.Kane@stephens.com

Tyler Runnells, Senior Vice President - Tyler.runnells@stephens.com

Stephens Insurance, LLC 111

Center Street

Little Rock, AR 72201

May 8, 2026

STEPHENS Confidential

1

Request for Proposal

TABLE OF CONTENTS

Section I : General Information on RFP and CLIENT

A. Introduction to CLIENT

B. Intent of Proposal

C. Contract Rate Guarantee Period

D. Proposal Confidential Information

E. Right of Refusal

F. Proposal Process Information

G. Contact Information

Section II: Questionnaire

A. General Information

B. Clinical Programs

C. Pharmacy Network

D. Claims Processing, Benefit Plan Design and Implementation

E. Reporting

F. Member Services

G. Eligibility

H. Rebates

I. Disease Management / Provider Initiatives

J. High Deductible & HSA Type Plans

K. Medicare Part D

L. Formulary

M. Performance Objectives

N. Audit Rights Agreement

O. Additional Fees to Consider

P. File Distribution to Consultant

Section III: Pricing

A. Pricing Quotes

B. Transparency Questions

Section IV: Contracting

Specific contract given for review

Section V: Summary of Attachments

A. Required Attachments

B. Summary of Information Given

Section VI: Appendix List

1. Current Benefit Plan

2. Transparency Pricing Request

3. Specialty Drug Pricing Form

4. Pass-Through Contract

5. ATU Preferred Contractual Provisions

STEPHENS Confidential

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Request for Proposal

SECTION I

A. INTRODUCTION TO Arkansas Tech University (ATU)

Arkansas Tech University is a state university established in 1909 with programs at the technical

certification, associate, baccalaureate and graduate levels. The University has campuses in

Russellville, Arkansas, and Ozark, Arkansas. The institution also operates Arkansas Tech Career

Center (ATCC), a career and technical training initiative headquartered in Russellville with satellite

locations at Clarksville, Danville, Ozark and Paris.

ATU Russellville-Offers 120 undergraduate degree programs and more than 25graduate degree

options.

ATCC-Serves over 1,000 students from 19 school districts across 9 program areas.

ATU Ozark-Serves over 2,100 students in 29 technical and associate programs.

ATU has approximately 780 full-time employees located on three campuses –Russellville, Ozark

and the Arkansas Tech Career Center (ATCC). ATU also provides benefits to pre-65 Retirees and

post-65 Retirees.

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Request for Proposal

A. INTENT OF PROPOSAL:

Arkansas Tech University (CLIENT) has the desire to provide its approximate 980 eligible

employees a “Pass-Through Pricing” pharmacy program. Respondents need to consider this

solicitation is for a two (2) year transparent contract. By offering this, CLIENT will be able to

better direct its members in controlling their pharmacy expense. With this goal, CLIENT is

seeking the best service and net value through this RFP process. With the intent of a more

open arrangement, CLIENT is requesting quotes with a total Transparent and “Pass-Through”

Pricing strategy.

B. CONTRACT RATE GUARANTEE PERIOD:

The period concerning this RFP begins January 1, 2027 and ends December 31, 2028. There

will be potential for continuation of the contract through subsequent periods.

C. PROPOSAL CONFIDENTIAL INFORMATION:

This is a confidential marketing effort. All information, including the RFP questions and

spreadsheets should be treated as confidential business documents and may not be shared

with outside parties without the prior written approval of STEPHENS INSURANCE. Do not

contact CLIENT or any employee of CLIENT regarding this RFP or the selection process.

D. EVIDENCE BASED FORMULARY MANAGEMENT

Plan Sponsor or Stephens Insurance may implement an evidence based formulary

management program using custom drug exclusions, step therapy, prior authorization and dose

optimization to save money without sacrificing patient safety.

Coordinated implementation of clinical recommendations includes, but is not limited to:

- Applying approved changes into PBM adjudication system and testing for accuracy

- Supplying physician/prescriber addresses for physicians of affected members

- Providing NCPDP post-adjudicated claims files

- Providing prior authorization placement and claims history review functionality via online access

to prescription claims adjudication system

E. RIGHT OF REFUSAL:

CLIENT reserves the right to accept or reject any and all responses submitted to this RFP.

CLIENT reserves the right to withdraw the RFP at any time. This RFP document should in no

way be construed as a commitment to purchase on the part of CLIENT. All decisions are

made by CLIENT and are final.

F. PROPOSAL PROCESS INFORMATION:

ATU must receive an electronic copy and hard copy no later than June 8, 2026, at 5:00 p.m.

Stephens Insurance must receive an electronic copy and one hard of your proposal no later

than June 8, 2026 at 5:00 p.m. This includes the completion of the following questionnaires

and exhibits:

STEPHENS Confidential

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Request for Proposal

Timeline Process Event

Issue RFP with Data

Questions due from PBMs by

Response to PBM questions due

Proposals Due

Finalist Interviews

Contract Effective Date

Target Date

May 8, 2026

May 15, 2026

May 20, 2026

June 8, 2026

As needed

January 1, 2027

All questions regarding this proposal should be directed to David Keisner.

David Keisner, PharmD

Vice President | Pharmacy Benefits Analyst

Stephens Insurance, LLC

111 Center Street, Suite 100 | Little Rock, AR 72201

Direct (501) 377-8208 | Toll Free (800) 852-5053

david.keisner@stephens.com | stephensinsurance.com

Secure Fax (501) 537-6059

Please provide an electronic copy of your response via email to:

David Keisner

Stephens

david.keisner@stephens.com

AND

Jennifer Warren

Director of Procurement

514 West M Street

Russellville, AR 72802

jwarren2@atu.edu

G. CONTACT INFORMATION:

Please provide the following responses about your organization. Provide separate responses for

retail, specialty and mail service if applicable.

Name

Street Address

City

State

Zip Code

Web Address

Contact for this Proposal

STEPHENS Confidential

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Commodity Codes

• NAICS 446110Pharmacies and Drug Stores
• NAICS 524292Third Party Administration of Insurance and Pension Funds

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