Financial Exam of Health Plan Group

The West Virginia Department of Tax and Revenue, Offices of the Insurance Commissioner, is requesting quotations for a statutory financial examination of the Health Plan Group, consisting of The Health Plan of West Virginia, Inc. (NAIC Code #95677) and THP Insurance Company (NAIC Code #60016), with quotations due November 16, 2026 at 2:00 p.m. EST under ARFQ INS2700000001.

The examination covers the period January 1, 2023 through December 31, 2026, with an expected start date of August 2, 2027 and completion by June 30, 2028. Work will be performed remotely with no travel expenses anticipated. The vendor must submit a formal Report of Examination and Management Letter no later than fourteen calendar days following completion of field work. Examination must comply with West Virginia Code 33-2-9 and the National Association of Insurance Commissioners Financial Condition Examiners Handbook.

Mandatory qualifications include a Certified Financial Examiner as Examiner-in-Charge with a minimum of eight years of insurance company financial examination experience; staff examiners with minimum two years of insurance experience; an IT specialist holding an Automated Examination Specialist or Certified Information Systems Auditor designation; and an Actuarial Specialist holding appropriate Society of Actuaries or Casualty Actuarial Society credentials. All personnel must obtain FedRAMP licenses and demonstrate experience with Teammate+ audit software.

Vendors must submit detailed cost proposals separated by Financial Examination work, Supervisory Review, Actuarial Review, and IT Review services on an hourly basis. Vendors must demonstrate no conflicts of interest with the examined companies and comply with all applicable Federal, State, and local regulations including Civil Rights Act requirements and confidentiality obligations. Questions are due October 26, 2026, with an anticipated addendum on November 2, 2026. Contact Purchasing Manager Beverley Toney at 304-414-8473 or beverley.a.toney@wv.gov.