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The Valuation Boot Camp for Health Actuaries will provide attendees with a deeper insight into methods, current thinking and alternative solutions to today's issues in valuation and reserving. It is not intended to duplicate existing valuation programs as it is specifically health related.
Basic definitions and reserving principles will be reviewed, including case studies. A review of the different types of health insurance reserves will be covered along with discussion of the following reserving topics:
- Key considerations for reserve valuation
- Impact of Affordable Care Act on reserves
- Role of actuarial judgment
- Reliance on the work of others
- Margin for uncertainty
This boot camp will cover important health insurance reserves such as unpaid claims liabilities, including completion factors and developmental methods, medical loss ratio accruals, premium deficiency reserves, unearned premium reserves, contract reserves, reserves for medical incentive bonus payments and estimation of assets or liabilities for the 3Rs, reinsurance, risk adjustment and risk corridors. Sources of guidance for development of reserves will also be covered.
Issues surrounding actuarial opinions and actuarial memoranda will also be discussed. Pertinent actuarial standards of practice will be covered, giving the participant professionalism credit as well.
The impact of the Affordable Care Act and associated regulatory changes will be given special emphasis in this year's Valuation Boot Camp.