Health Actuaries are responsible for assessing financial risk and calculating premium costs for healthcare and insurance companies. They are involved in analyzing statistical data and marketplace trends, reviewing plan reserves, preparing rate files, and creating aggregated health data-based monthly reports. A Health Actuary will study and interpret medical patterns to uncover opportunities to manage risk. They must keep abreast of current legislation to ensure the company abides by legal guidelines. A good Actuary uses a combination of professional judgment, logical reasoning, and mathematical modeling.
There are certain skills that many health actuaries have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed computer skills, math skills and problem-solving skills.
If you're interested in becoming a health actuary, one of the first things to consider is how much education you need. We've determined that 70.6% of health actuaries have a bachelor's degree. In terms of higher education levels, we found that 23.5% of health actuaries have master's degrees. Even though most health actuaries have a college degree, it's impossible to become one with only a high school degree or GED.