Actuarial Services: Health Ins Rate Review/Long Term Care Rate Review

The South Dakota Division of Insurance is seeking actuarial services through Request for Proposal #25RFP15020, specifically for two distinct contract opportunities involving health insurance and long-term care rate reviews. The procurement seeks contractors to provide comprehensive actuarial services including monitoring changes in state and federal insurance requirements, consulting with the Division of Insurance, and potentially conducting special project analyses. Contractors will be responsible for reviewing approximately 21 individual health insurance filings, 10 group health insurance filings, and various other insurance product filings annually, with peak review periods in June, July, and August. The evaluation will be point-based, totaling 100 points across specialized expertise (35 points), staff resources (20 points), past performance (15 points), project management techniques (5 points), and cost of services (20 points). Key submission details include an electronic proposal due by 5:00 P.M. CDT on June 27, 2025, with the anticipated contract period running from October 1, 2025, through September 30, 2028, and potential two-year optional extensions that could extend the total contract period to September 30, 2032.

The RFP does not specify explicit set-aside designations or restrictions for disadvantaged enterprises. The current incumbent contractors are Leif Associates and INS, with typical annual work ranging under 400 hours for most filings and an average turnaround time of 15-25 days per standard rate filing. The pricing structure will be hourly-based with an annual not-to-exceed limit, and travel costs are to be listed separately, not exceeding continental United States rates established by the U.S. General Services Administration. Proposals should be submitted electronically to Jill.Kruger@state.sd.us, with the cost proposal in a separate file, focusing on rates for the initial three-year contract term. While specific budget ranges are not explicitly stated, the State reserves the right to reject any proposals and will negotiate with the highest-ranked offeror to refine the scope of services, terms, compensation, and performance schedule. Interested parties may email inquiries to Jill Kruger at Jill.Kruger@state.sd.us with the subject line "RFP #25RFP15020" for additional clarification.