Health Insurance Actuary
A health insurance actuary analyzes and assesses the risks associated with health care costs. Health insurance actuaries can be found employed at insurance companies, consulting firms, government agencies, or associations that provide or regulate health care services.
Health insurance actuaries’ typical task and duties include:
– Develop and review health insurance rates and premiums based on the expected future claims and expenses of different groups of policyholders
– Evaluating the impact of health care policies, programs, and regulations on the insurance industry and society
– Designing and testing health insurance products and benefit plans that meet the needs and preferences of customers and stakeholders
– Estimating future liabilities and the viability of health insurance plan models
– Preparing and presenting recommendations to wide range of stakeholders
– Collaborating with other professionals
If you are considering a career switch Health insurance actuaries must have excellent analytical, problem-solving, and communication skills. You must be able to work with complex data and models, and to explain findings and recommendations clearly and effectively. You must also be able to adapt to changing regulations, technologies, and market conditions, and to keep up with the latest developments and trends in the health care industry. An analyst position might be a great place to start.