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Actuarial

In today's changing environment, employers need creative programs and solutions to help control rising health care costs. However, before programs and solutions can be implemented, organizations need to first understand their current and future risk exposures.  At Marsh & McLennan Agency, our actuarial team partners with clients to identify risk, measure potential financial exposures, and offers long-term strategies to allow for a sustainable health plan.

Measure Cost and Identify Risk

Working directly with you, our dedicated actuarial team will utilize their expertise and experience to measure expected cost impacts and identify possible risk exposures to your benefit programs.  Leveraging our proprietary actuarial models, our knowledgeable professionals will assess the risk/reward trade off around plan designs, population health management approaches, and contribution strategies.

MMA is uniquely positioned to offer employers the insight into their specific medical drivers - both from a utilization and unit cost basis.  Through our focused approach, advanced modeling and decision tools, we offer employers the solutions, programs, and strategies necessary to protect their capital and improve the financial performance of their organization.

Our approach

Through a focused approach our professionals will work with you to solve the complex issues and find the right way to manage your risk:

  • Identify: opportunities to reduce cost, lower risk, and increase efficiency
  • Highlight: new and emerging risk
  • Measure: the financial impact to your benefit programs
  • Design: benefit programs, strategies, and approaches to improve the financial performance of your business

Custom Solutions

Our experience with both fully insured and self insured plans, ranging from small employers to Fortune 500 companies, allows us to better understand your needs and to provide creative solutions that fit your unique situation.

As your employee and risk profile changes, we offer custom solutions and models that will allow you to innovate, adapt, and set strategies to plan for those risk changes.  The goal is to help the client better understand their risk, evaluate alternatives, and in the end, reach the best fact based decisions with the data and analysis to back them up.

MMA's risk management services and solutions, tied with an actuarial certification, offers clients peace of mind that they have the professional insight necessary to protect and advance their business strategies.

Actuarial Services

  • Actuarial Relative Values
  • Premium Equivalent Rates
  • Independent Evaluation of Carrier & TPA Network Cost Structure
  • Benefit Decrements Analysis
  • Incurred But Not Reported (IBNR) Claim Reserves
  • Mental Health Parity Testing
  • Medicare Part D Creditable Coverage Testing
  • Employer Member Risk Profile
  • Independent Claim Review
  • Predictive Modeling
  • Cost Projections
  • Vendor Renewal and Plan Experience Analysis
  • Cost Containment Studies

 

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