Actuarial technician vs health actuary

The differences between actuarial technicians and health actuaries can be seen in a few details. Each job has different responsibilities and duties. Additionally, a health actuary has an average salary of $99,496, which is higher than the $79,409 average annual salary of an actuarial technician.

The top three skills for an actuarial technician include projection, financial analysis and product development. The most important skills for a health actuary are FSA, term care, and GAAP.

Actuarial technician vs health actuary overview

	Actuarial Technician	Health Actuary
Yearly salary	$79,409	$99,496
Hourly rate	$38.18	$47.83
Growth rate	21%	21%
Number of jobs	7,597	48,396
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 71%
Average age	39	39
Years of experience	-	-

Actuarial technician vs health actuary salary

Actuarial technicians and health actuaries have different pay scales, as shown below.

	Actuarial Technician	Health Actuary
Average salary	$79,409	$99,496
Salary range	Between $44,000 And $141,000	Between $49,000 And $201,000
Highest paying City	Hartford, CT	-
Highest paying state	New York	-
Best paying company	Transamerica Corporation	-
Best paying industry	Professional	-

Differences between actuarial technician and health actuary education

There are a few differences between an actuarial technician and a health actuary in terms of educational background:

	Actuarial Technician	Health Actuary
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 71%
Most common major	Mathematics	Mathematics
Most common college	University of Pennsylvania	Stanford University

Actuarial technician vs health actuary demographics

Here are the differences between actuarial technicians' and health actuaries' demographics:

	Actuarial Technician	Health Actuary
Average age	39	39
Gender ratio	Male, 40.2% Female, 59.8%	Male, 93.3% Female, 6.7%
Race ratio	Black or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 5.1% Asian, 15.8% White, 73.1% American Indian and Alaska Native, 0.0%	Black or African American, 2.9% Unknown, 2.9% Hispanic or Latino, 3.4% Asian, 16.5% White, 74.3% American Indian and Alaska Native, 0.0%
LGBT Percentage	18%	18%

Differences between actuarial technician and health actuary duties and responsibilities

Actuarial technician example responsibilities.

Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
Design the migration of SAS datasets and other data to new UNIX box.
Develop and maintain statistical models to modify policy rates and coverages using SAS.
Compile, analyze and verify census data and information need in the calculation of reinsurance premiums.
Assist in the creation and preside over presentations, utilizing and maintaining the required projection equipment for meetings.
Take ownership of quarterly Medicaid cost benefit ratio dashboard by compiling several state's claim cost/utilization data and premium information.

Health actuary example responsibilities.

Manage the design, implementation and oversight of all insurance and reinsurancepricing functions and processes for corporation.
Provide clinical exercise physiology services and health/wellness counseling for family practice/sports medicine/orthopedics medical group effecting positive lifestyle changes in patients serve.
Lead actuarial consultant on NALIS to Cyberlife traditional life conversion.

Actuarial technician vs health actuary skills

Common actuarial technician skills

Projection, 20%
Financial Analysis, 16%
Product Development, 14%
Data Analysis, 9%
VBA, 8%
SQL, 7%

Common health actuary skills

FSA, 51%
Term Care, 33%
GAAP, 5%
Filings, 4%
Financial Analysis, 3%
Business Decisions, 3%