The experienced staff at United Health Actuarial Services, Inc. (UHAS) is highly qualified to perform all actuarial functions relating to Long-Term Care (LTC) insurance coverage. Our team members bring an average of over twenty years of LTC work experience to your projects.
LTC Actuarial Services Offered:
- Developing morbidity assumptions by credibility weighting client experience with our industry-based experience;
- Developing lapse and mortality experience studies and assumptions;
- Developing projections for various purposes (e.g., pricing, cash flow testing, gross premium valuations, appraisals, etc.);
- Developing premiums and providing client product-development support;
- Determining appropriate rate increases;
- Developing actuarial materials for rate increase filings;
- Interfacing with state insurance departments by filing forms and rates and responding to objections;
- Providing litigation support;
- Providing peer review services; and,
- Financial reporting and valuation for services relating to statutory, tax and GAAP liability/reserve calculations.
UHAS Industry Morbidity Experience
Industry experience is often necessary in the development, interpretation or review of historical and/or projected LTC claims. Our industry data includes all coverage types and comes from both insured and self-funded plans that have been subject to various levels of underwriting. If experience studies are needed for a premium rate increase filing, our industry data and manual assumptions are carefully modified to fit to the unique benefit and expense structures of our clients’ plans. In addition, projected future experience is checked and adjusted to be consistent with historical plan experience as appropriate.
Projection Experience Including the GGY AXIS Software
We have significant experience in developing and reviewing actuarial projections and valuation results, including working with various actuarial modeling and valuation software packages such as GGY AXIS. The adoption of a first-principles approach to projecting future claims and the corresponding use of the AXIS software has become a significant trend across the LTC industry. In conjunction with that, UHAS has been involved in the planning, development and review of models using the first-principles approach and the AXIS software.
Contact us to learn more about our LTC services.