Serving the Actuarial Needs of Self-Funded Healthcare Plans
Increasingly, self-funded plans are looking to the actuary for support services. In this instance, services are recommended and numbers are supported by an actuarial signature. Actuary means a person recognized by membership in the American Academy of Actuaries, the Society of Actuaries or the Casualty Actuarial Society. Actuarial services may be provided in a number of ways:
- On an in-sourced basis (TPA, insurer, intermediary, etc. has its own staff actuary)
- On an outsourced basis (such entities use either a consulting or regularly retained actuary)
- By the plan sponsor retained actuary and not part of the regularly-provided plan services
Support Services Provided
Each actuarial service described herein meets a legal or accounting requirement. The services herein described involve the following:
Plan Design Impact Study
Government Entity Plan Certification
Medicare Part D Certification
Minimum Value Certification
Periodic Experience Monitoring
Multiple Employer Welfare Arrangements
Recommended Funding Levels
Workers’ Compensation
HMO Employer Contribution
and more…