Item Description:
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Amd 10 to Agmt PR00001249 with Wakely Consulting Group LLC, a subsidiary of Health Management Associates, Inc., for actuarial and consulting services to Hennepin Health, 09/01/26-08/31/29, incr NTE by $2,298,384
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Resolution:
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BE IT RESOLVED, that Amendment 10 to Agreement PR00001249 with Wakely Consulting Group LLC , a subsidiary of Health Management Associates, Inc., to provide Hennepin Health with actuarial and consulting services for the period of 09/01/26 through 08/31/29, increasing the not to exceed amount by $2,298,384 for a new total not to exceed amount of $7,270,384 be approved; that the Chair of the Board be authorized to sign the Agreement on behalf of the County; and that the Controller be authorized to dispense funds as directed.
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Background:
Wakely Consulting Group LLC, a subsidiary of Health Management Associates, Inc., has provided actuarial and consulting services to Hennepin Health (formerly known as MHP) since 2001. An Actuarial Services RFQ was conducted in 2017 and Wakely Consulting Group, at that time known as Cirdan Health Systems Inc., a subsidiary of Health Management Associates, Inc., was selected. This contract provides actuarial, consulting and financial analysis support in the following capacities:
Professional and Actuarial Support Services-
• Prepare and assist in the development of quarterly reserves for the months ending September, December, March and June throughout the contract period.
• Prepare annual Actuarial Opinion of actuarial assets and liabilities and related actuarial memorandum and actuarial report.
• Support MN DHS data submissions and help reconcile transactional data to audited financials where appropriate. Provide miscellaneous/other adjustment data and review final report.
• Provide assistance as necessary to support DHS contract rate negotiations.
• Develop and maintain a process to create, reconcile, and submit HH’s encounter data including actionable error reporting.
• Provide miscellaneous assistance to Hennepin Health as requested
This board action request aligns with Hennepin County disparity reduction efforts by improving access to culturally specific/sensitive health services and increasing community well-being.
This request funds services that are: both mandated and core services.
recommendation
Recommendation from County Administrator: Recommend Approval