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Private Medical Scheme

BANK OF ENGLAND

This public procurement record has 2 releases in its history.

Tender

30 Jul 2026 at 10:30

UK4 - Tender Notice
Planning

18 Mar 2026 at 13:28

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The Bank of England is procuring a private medical scheme for its employees as a core employee benefit within its overall reward package. The appointed supplier will provide private medical cover under a Trust model, combining trust administration and insurance-related services. The detailed service scope is set out in the Statement of Requirements and includes member medical benefits and associated claims and scheme management. Delivery is across the United Kingdom. This is a single service requirement for an organisation seeking a provider with the capability and capacity to operate a substantial private medical scheme, rather than a procurement for medical treatment facilities or individual healthcare services.

The procurement has reached tender: the Bank invited offers through a selective competitive flexible procedure. Interested suppliers must submit an expression of interest by 13 August 2026 at 12 noon; enquiries close at the same time. Suppliers must complete a non-disclosure agreement to access the tender documents, which are submitted electronically through the Bank’s procurement portal. Procurement Specific Questionnaire and Invitation to Tender responses are due together by 17 September 2026. The contract is expected to run from 1 April 2027 to 31 March 2030, with two optional 12-month extensions, potentially ending 31 March 2032. The estimated value is £103 million gross. Quality carries 80% and price 20%. Contract award is scheduled for 21 December 2026.

This opportunity suits private medical insurers, healthcare benefit providers and trust-based scheme specialists with the financial strength and operational capacity to support a large employer scheme. Suppliers must be able to provide a conforming Master Trust arrangement, manage claims funds, maintain payment standards and demonstrate relevant technical capability and experience. The requirement covers data protection, cyber assurance and privacy, quality assurance, business continuity, subcontractor management, carbon reduction, modern slavery, equality and diversity, bribery controls and related governance. Service capability must include hospital network provision, inpatient and outpatient treatment, surgery, diagnostic scans, cancer and mental health treatment, NHS cash benefits, menopause support, self-referral services, dependent cover and medical-history disregard.

How relevant is this notice?

Notice Information

Notice Title

Private Medical Scheme

Notice Description

As part of its overall reward package for Bank employees, the Bank offers private medical cover as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide a private medical scheme under a Trust model. The exact supply detail is set out in the Statement of Requirements. The Term is 3 +1 +1 years. The value is estimated at PS103M.

Lot Information

Lot 1

Renewal: 2 x 12 month extension available at the discretion of the Bank.

Planning Information

A briefing for all interested suppliers will be held on Thursday 26 March 2026 at 11am. To attend the briefing, interested suppliers are requested to send an email with Private Medical Scheme PME in the subject line to: Corporate.Contracts@bankofengland.co.uk by 12 noon Monday 23 March. The Bank is in the process of drawing up its requirements (including legal terms) for any future contract. In so doing, the Bank is consulting example documentation. Interested suppliers are invited but not required to submit any example / template documentation for reference by the Bank to the email address set out above.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-066d94
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/072042-2026
Current Stage
Tender
All Stages
Planning, Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66161000 - Trust services

66510000 - Insurance services

Notice Value(s)

Tender Value
£103,000,000 £100M-£1B
Lots Value
£103,000,000 £100M-£1B
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
30 Jul 20262 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Apr 2027 - 31 Mar 2030 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Postcode Area
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

  • https://www.find-tender.service.gov.uk/Notice/072042-2026
    30th July 2026 - Tender notice on Find a Tender
  • https://www.find-tender.service.gov.uk/Notice/024604-2026
    18th March 2026 - Preliminary market engagement notice on Find a Tender
  • https://supplierlive.proactisp2p.com/
    Documents are provided on the Bank of England's Procurement portal https://supplierlive.proactisp2p.com/ Due to the sensitive nature of the documentation, interested suppliers are required to complete a non-disclosure agreement in order to access the associated tender documents. Interested suppliers should email Corporate.contracts@bankofengland.co.uk with the reference " Private Medical Scheme NDA Request" within the subject, and confirm Proactis Organisation ID, Company Number, VAT registration Number, signatory name and e-mail address for the non-disclosure agreement, this will then be issued via Docusign

Open Contracting Data Standard (OCDS)

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