Actuarial Statement of Opinion

Client Challenge:

Cirdan’s client did not have the expertise on staff to prepare the estimates of actuarial liabilities that are reported in the statutory “orange” blan statement required by the National Association of Insurance Commissioners (NAIC)

Our Solution:

• Cirdan’s staff filled the role of the Appointed Actuary for the health plan.
• Cirdan prepared the estimates of actuarial liabilities for reporting purposes. The estimates included:
  • The liability for incurred but not reported claims
  • Risk adjustment settlements for Medicare and ACA products
  • Medicare Part C and Part D settlements
  • The required Premium Deficiency Reserve
• Cirdan also prepared:
  • The required Statement of Opinion
  • The accompanying memo describing our review
  • A report to be shared with board members of the health plan.

The Result:

Our client obtained a more cost effective solution than hiring and developing the expertise on staff to do the same work????? Wording needs help