Health & Welfare Actuarial & Broker Consultant

The Colorado Department of Personnel & Administration is requesting proposals for a Health and Welfare Actuarial and Broker Consultant under RFP AABA 2027-0049, with proposals due November 5, 2026 at 3:00 p.m. Mountain Time. The contract term runs July 1, 2027 through June 30, 2028, with up to four one-year renewal options for a potential five-year engagement. No set-asides or preference programs apply; however, the State encourages proposals from Service-Disabled Veteran-Owned Small Businesses.

The scope encompasses comprehensive actuarial and brokerage consulting for the State's employee benefits program covering approximately 35,000–39,000 employees. Key deliverables include monthly and annual actuarial financial reporting, rate-setting support, compliance audits, legislative fiscal note analysis (with turnaround times as short as four hours), pharmacy benefit manager consulting and RFP management, wellness program (State of Health) administration and expansion, benefits administration system procurement and implementation support, contract negotiation and performance monitoring, strategic planning, and data analytics. The winning contractor must assign at least one Fellow of the Society of Actuaries (FSA) as lead actuary and demonstrate minimum five years of public sector consulting experience with comparable-size organizations. All costs for materials, labor, facilities, equipment, supplies, and travel must be included in a single flat annual fee; no additional compensation is authorized outside this amount. The incumbent fee is $792,000 annually with no amendments permitted. Price increases are allowed only upon 180 days' advance written notice supported by substantive documentation and subject to good-faith negotiation and budget availability.

Mandatory qualifications include possession of all required Colorado licenses for employee benefit services and ability to attend at least 15 in-person meetings annually. Offerors must provide three professional references demonstrating at least three years of comparable experience within the past six years and three references from three most recent terminated clients. All written deliverables must comply with WCAG 2.1 Level AA accessibility standards and C.R.S. 24-85-101 et seq. Performance guarantees placing a percentage of the flat fee at risk are required for actuarial projection accuracy, pharmacy oversight and claims audits, carrier performance guarantee auditing, legislative fiscal note delivery, and open enrollment support completion.

The State is currently served by a fully-insured Kaiser Permanente plan and self-funded Cigna plan with MedImpact pharmacy administration. Questions are due October 5, 2026. Estimated oral presentations are scheduled for the week of December 7, 2026, at the Offeror's expense. Notice of Intent to Award is estimated for the week of December 21, 2026, with contract execution anticipated in May 2027. Evaluation criteria include technical capabilities, management capabilities, cost proposal clarity and completeness, overall quality and completeness, and accessibility compliance. Award will be made to the responsible offeror whose proposal is most advantageous to the State, considering price and evaluation factors. Offerors must be registered to conduct business in Colorado within ten business days of receiving the intent to award.