Appointed Actuary

Client Challenge:

Cirdan’s client did not have an in-house actuary with the qualifications to serve as their Appointed Actuary.

Our Solution:

• Cirdan’s staff filled the role of the Appointed Actuary for the health plan and prepared the required documents including:
  • Actuarial Statement of Opinion
  • Acutarial Memorandum
  • Required Report to the Board
• Cirdan prepared the estimates of actuarial liabilities recorded by the client. This analysis included evaluation of:
  • The liability for incurred but not reported claims
  • Risk adjustment settlements
  • Provider Value Based Contract settlements
  • Medicare Part C and Part D settlements
  • The need for a Premium Deficiency Reserve
• Cirdan supported the client through the review of the actuarial items by it’s external auditors, and review by the state insurance department

The Result:

By retaining Cirdan, our client had seasoned actuaries with many years of experience working with the valuation of health liabilities and statutory reporting , and experience working with auditors. The costs related to the consulting project were a fraction of the the cost of hiring an in-house actuary with the appropriate qualifications.