Request for proposal for comprehensive administrative and investment services for the county of orange’s health reimbursement arrangement program

The County of Orange is soliciting proposals for comprehensive administrative and investment services for its Health Reimbursement Arrangement (HRA) Program through Request for Proposal (RFP) No. 017-202406-MC. The procurement seeks a qualified firm to provide recordkeeping, administrative, employee communication, and investment services for two existing HRA plans covering employees from various county units, including deputy sheriffs, law enforcement management, county attorneys, and other represented and unrepresented employees. Minimum qualifications for offerors include having at least 10 years of HRA plan administration experience, managing at least five plans with over 1,000 participants each, and providing administrative reimbursement up to $90,000 annually to the County. The evaluation will be comprehensive, with 400 points allocated to written proposals, 300 points for oral presentations/interviews, and 300 points for cost evaluation, considering factors such as organizational experience, participant communications, claims administration, investment services, implementation capabilities, and cybersecurity. Proposals are due on October 9, 2024, at 4:00 PM Pacific Time, to be submitted electronically via the County's online bidding system, with a planned contract implementation date of July 1, 2025, for an initial three-year term with potential two one-year renewals.

The RFP includes provisions for Local Small Business (OCLSB) and Disabled Veteran Business Enterprise (DVBE) certifications, offering preference points and price matching opportunities for qualified businesses. Current HRA program administration is provided by MissionSquare Retirement, which has managed the plans since 2009. The program currently encompasses two plans with total assets of approximately $351.5 million and 22,387 participants, with contribution rates varying from 1% to 5% for employers and potential mandatory employee contributions. The existing investment portfolio is diverse, featuring funds from managers like BlackRock, Vanguard, T. Rowe Price, and Artisan, with a requirement that the new administrator maintain the current investment option array. While specific contract value is not explicitly stated, the program manages substantial assets, with administrative fees currently set at 0.19% on all assets, and the County seeking up to $90,000 in annual administrative funding. The contract will require comprehensive HIPAA compliance, detailed reporting, and adherence to strict performance standards with potential financial penalties for non-compliance.