Health & Welfare Actuarial & Broker Consultant

The State of Colorado Department of Personnel & Administration is requesting proposals for a Health & Welfare Actuarial & Broker Consultant under RFP AABA 2027-0049, with proposals due October 22, 2026 at 3:00 p.m. Mountain Time. Service-Disabled Veteran Owned Small Business (SDVOSB) offerors are encouraged.

The scope encompasses actuarial analysis, insurance brokerage, procurement support for medical, pharmacy, dental, vision, disability, and life insurance; pharmacy consulting in coordination with Truveris; wellness program administration; compliance activities; open enrollment support (typically March–June); and monthly and annual financial reporting for self-funded plans. The State currently covers approximately 35,566 medical enrollees across Kaiser and Cigna plans, 36,101 dental enrollees through Delta Dental, and 35,063 vision enrollees through EyeMed, plus disability and life insurance products. The contractor must hold at least one Fellow of the Society of Actuaries (FSA) designation, maintain Colorado business registration, and demonstrate at least five years of public sector consulting experience with comparable-sized organizations. Respondents must attend approximately 15 in-person meetings annually. The State plans to procure a replacement benefits administration system within 12–24 months and expects the selected consultant to serve as advisory and subject matter expert for that RFP and implementation.

The contract value is $792,000 annually as a flat fixed fee covering all baseline labor, services, materials, travel, and anticipated ad hoc work. The initial term runs July 1, 2027 through June 30, 2028, with up to four one-year renewal options (maximum five-year engagement). Price increases require 180 days' advance notice and substantive justification. Offerors must propose a performance guarantee fee-at-risk schedule tied to actuarial projection accuracy, pharmacy oversight, carrier audits, legislative fiscal note turnarounds (including 4-hour deadlines), and open enrollment completion. The incumbent contractor spent approximately 8,901 hours over four years without contract amendments.

Vendor inquiries are due October 5, 2026 at 12:00 p.m. Mountain Time; intent-to-bid notification is due October 12, 2026 at 12:00 p.m. Oral presentations are estimated for the week of December 7, 2026. Evaluation criteria include accessibility compliance under WCAG 2.1 Level AA, technical capabilities, management capability, cost proposal clarity, and overall bid quality. Award is estimated for the week of December 21, 2026, with contract execution estimated for May 2027.