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Health Actuary



Evaluate health trends to determine the price of insurance policies.

What does a Health Actuary do?

A Health Actuary helps a business assess risk and determine trends so as to provide better cost data for both the company and its customers. In the health world, this means the Health Actuary most likely holds a job with an insurance company, examining a patient’s records to determine what kind of insurance they should be allowed and what they should pay. As a Health Actuary, you do this work by yourself, but you also educate Health Insurance Agents on your findings. They, in turn, take this knowledge out on the road and to sales calls, and use it to find a good and fair price for both the insurance company and the customer.

Health care has always been expensive, and an Actuary helps to determine what is and isn’t necessary, cutting out costs for both parties. You study the health care market, look at trends, and determine what should be offered to whom. You also make projections and attempt to estimate events, like disability, illness, and even death. To complete these estimates, you use tables, charts, and various programs, and your work is used by insurance carriers that deal in life, health, casualty, and property.

The art of your job comes in finding the balance between making a profit for your company, giving the client a fair price, and remaining competitive with other insurance carriers. The premiums you decide on have to pay claims costs while also leaving some positive cash flow for your employers. You may also be asked over the course of your career to speak publicly on the subject of risk assessment, in addition to providing counsel on your company’s insurance policies.

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