Statement of Qualifications for Designation as Consulting Actuary ...

(5) Whether the bidder understands the process by which a high riskpool, particularly CHIP, calculates premium rates and projectsdeficits.(6) Whether the bidder has general familiarity with the Affordable CareAct of 2010 (ACA) and is willing to provide actuarial assistance tothe Pre-Existing Condition Insurance Plan established pursuant tothe ACA in Illinois, the Illinois Pre-Existing Condition InsurancePlan.1.7 FeesA bidder shall provide fee proposals that should include a schedule ofprofessional fees and expenses that supports the total all-inclusive pricefor the 22-month contract. The successful bidder shall submit invoices forservices rendered plus travel expenses incurred for the previous month foreach pool on a monthly basis.1.8 General Evaluation CriteriaThe criteria for selection of the successful bidder are both objective andsubjective. Cost, technical competence, experience, service capabilities,personnel, and reputations, among other items, will be considered; butnone of these will provide the sole basis for any contract award.1.9 Issue Date and ScheduleThe bidding and qualification evaluation process will proceed inaccordance with the following timetable:Tuesday 17 January 2012 Solicitation ReleasedTuesday 31 January 2012(4:00 p.m. CDT)Deadline for Receipt ofBidsWednesday 15 February 2012 Notification of ContractAwardMonday 27 February 2012 Finalized ContractualLanguageThe Board reserves the right to change any or all of the dates listed in thistimetable. All responsive bidders will be notified in writing of any suchchanges. The award shall be contingent upon successful negotiation ofthe final contract. Bidders must agree to finalize contract language by nolater than 27 February 2012.1.10 Submission