These people are mostly found in the insurance sector, and their job is to use statistical data to calculate clients' financial uncertainty. They are also tasked with calculating the cost of premium health insurance packages. Seventy percent of Health Actuary work in insurance companies, while the rest of them work with some government health agencies. They are also responsible for providing advice to their clients, but on a contract basis; they often work mostly as consultants. They design, help administer insurance, analyze pension plans, determine financial soundness, and calculate premiums.
There are some skills you need to increase your chances of getting this job. Some of them include mathematics skills, the ability to calculate and identify potential risk with the use of calculus, and probability, strong statistical skills, strong analytical skills, technical skills, e.g., database operations, statistical analysis, and spreadsheets, risk management skills, ability to identify and predict potential and problem-solving skills. The salary structure for this job depends on some factors: the size of the organization, the experience of the candidate, and the country in which you reside. In the United States, an average Health Actuary earns between $68,000 and $113,567 per annum.