Consulting and Actuarial Services for the State Employee and Retiree Health and Welfare Benefits Program

Solicitation BPM057388 is a request for proposals from the State of Maryland for comprehensive consulting and actuarial services to support the State Employee and Retiree Health and Welfare Benefits Program. The scope of work includes developing financial models and forecasts, advising on benefit plan design, providing procurement support for insurance carriers or third-party administrators, and delivering rapid-turnaround actuarial projections for proposed legislation. Key deliverables include quarterly plan performance report cards, utilization reports, and technical reviews of proposals. The contract is designed for an initial term of seven years with one optional two-year renewal. The procurement utilizes a Competitive Sealed Proposals method where technical and financial factors are weighted equally. Technical evaluation focuses on the work plan, staff qualifications, and the offeror's capabilities, while the financial evaluation is based on the total proposal price. Minimum qualifications require seven years of relevant experience, and key personnel must hold ASA or FSA designations. The contract includes specific goals for Minority Business Enterprises (15 percent) and Veteran-Owned Small Business Enterprises (2 percent). Contractors must adhere to strict compliance and security standards, including annual SOC 2 Type 2 audits, CJIS criminal background checks for personnel, and the execution of a HIPAA Business Associate Agreement if applicable. The financial structure involves a combination of fixed annual pricing for actuarial and data warehouse services and hourly labor rates for consulting staff across principal, senior, and junior levels. The estimated overall contract value is 2 million dollars, and the contractor is required to remit a 1 percent electronic transaction fee on approved invoices.