Actuarial Services

The Vendor is required to provide actuarial services related to review of health insurance rates, specifically in the line of long-term care.
- Actuarial services for health insurance rates will review the following lines of insurance:
• Individual health insurance
• Group health insurance
• Major medical insurance
• Others as specified by the division of insurance
- Actuarial services for long term care rates will review the following lines of insurance:
• Long term care insurance
• Others as specified by the division of insurance
- Monitor changes in the state insurance code, rules and regulations to ensure filings comply with state law.
- Also monitor any changes in federal law relative to rate review standards.
- Familiar with the actuarial standards of practice (ASOP’S) and guidelines for professional conduct.
- Utilize the internal guidelines developed by the division of insurance when reviewing filings to ensure increases/decreases are actuarially supported.
- May be required to agree to a confidentiality agreement.
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: May 27, 2025