Medicare Supplement Maintenance
Once your Medicare supplement product has been launched, there are regulatory requirements that must be met as well as critical analysis that will allow you to understand the emerging experience and its impact on the bottom line. We are prepared to offer you a full suite of services that will allow you to check all the boxes. The following services will be provided at a fixed cost with that cost dependent on the number of states and plans.
Development of annual re-rating plan along with materials to be presented to your company and business partners (reinsurer, marketers)
Create actuarial filing materials for submission to state departments of insurance and respond to questions from state reviewers
Quarterly reserve development including incurred but not reported (IBNR) claim reserve, active life reserve, GAAP reserve, premium reserve as well as creation of schedules required by reinsurance treaties
Quarterly management reporting analyzing the emerging experience
Annual gross premium valuation to support actuarial opinion
Values for population within Annual Statement exhibits
Annual rate refund calculations and exhibits for submission to state departments of insurance