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State of Colorado·Colorado

Health & Welfare Actuarial & Broker Consultant

Closes 10/22/2026$250k – $450kRequest for Proposal
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Description

The State of Colorado is seeking a single‑vendor consultant to provide comprehensive health and welfare actuarial and insurance‑broker services for its ~39,000 employees. The consultant will be paid a flat annual fee and must deliver a full suite of services, including: • Market research, budget estimation, and solicitation drafting for employee‑benefit contracts. • Evaluation of proposals, bid summary preparation, and recommendation of award decisions. • Ongoing actuarial analysis, cost‑trend modeling, and reserve adequacy reporting. • Management of relationships with multiple carriers (e.g., Kaiser Permanente, Cigna, MedImpact) and coordination of renewals/negotiations. • Legislative fiscal‑note analysis with rapid (≤4 hour) turnaround. • Support for open‑enrollment communications, wellness program ROI analysis, and compliance with state/federal benefits law. • Development of strategic benefit plans, benchmarking studies, and analytic tools for the State’s benefit administration system. The contract is structured as a flat‑fee, annual engagement with potential extensions, and the vendor must maintain accessibility compliance (WCAG 2.1 AA) for all deliverables.

Attached files

Contact

Phil Rollins(Buyer)

[email protected]

Key dates

Opened
9/24/2026
Closes
10/22/2026
Duration
1 year

Last updated

Details

Type
Request for Proposal
Industry
Consulting Services
NAICS
524210
Solicitation №
RFP-AABA-2027000049-2

Budget estimate

$250,000 – $450,000

The solicitation calls for a “flat annual fee” covering all actuarial, brokerage, analysis, and support services. For a statewide employee base of roughly 39,000 and the extensive scope (market research, bid evaluation, ongoing actuarial modeling, legislative fiscal notes, open‑enrollment support, and multi‑carrier management), comparable contracts in other states range from $200 K to $600 K per year depending on firm size and depth of services. Assuming a mid‑range provider with strong actuarial capability, a realistic estimate would be $250 K–$450 K annually. Factors influencing the final amount include: the number of dedicated senior staff (actuary, compliance expert, wellness specialist), the complexity of the State’s mixed fully‑insured/self‑funded plans, and any optional performance‑guarantee risk fees.

AI estimate from the solicitation

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