Bring a large pot of salted water to a boil. Add the cheese tortellini and cook according to the package instructions until al dente. Drain and set aside.
Heat the olive oil in a large skillet over medium heat. Add the diced bell peppers, red onion, and chopped turkey bacon. Cook until the veggies are softened and the bacon is slightly crispy, about 5-7 minutes. Sprinkle in the garlic powder, onion powder, salt, and pepper, stirring well to combine.
In a large mixing bowl, combine the shredded cooked chicken with the BBQ sauce. Stir until the chicken is fully coated in the smoky sauce.
Add the cooked tortellini and sautéed veggies with bacon to the bowl with the BBQ chicken. Toss everything together gently but thoroughly so the flavors meld.
Preheat your oven to 375°F (190°C). Lightly grease a 9x13 inch baking dish. Transfer the tortellini mixture into the dish and spread it out evenly.
Sprinkle the shredded cheddar and mozzarella cheese evenly over the top. Bake uncovered for 20-25 minutes, or until the cheese is melted, bubbly, and golden brown on top.
Remove from the oven and let it sit for 5 minutes. Garnish with fresh parsley before serving.