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.

What Does a Health Actuary Do

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.

How To Become a Health Actuary

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.

Average Salary for a Health Actuary

Health Actuaries in America make an average salary of $99,496 per year or $48 per hour. The top 10 percent makes over $201,000 per year, while the bottom 10 percent under $49,000 per year.
Average Health Actuary Salary
$99,496 Yearly
$47.83 hourly
$49,000
10 %
$99,000
Median
$201,000
90 %

What Am I Worth?

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How To Become a Health Actuary
How To Become a Health Actuary Career Overview

States With The Most Health Actuary Jobs

Mouse over a state to see the number of active health actuary jobs in each state. The darker areas on the map show where health actuaries earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Health Actuary Jobs By State

RankStateNumber of JobsAverage Salary
1California2,703$106,054
2Texas1,440$94,696
3Ohio1,051$93,326
4North Carolina980$105,209
5Washington898$112,759
6Indiana846$92,476
7Massachusetts824$115,157
8Minnesota725$89,481
9Virginia723$110,272
10Tennessee661$80,082
11Arizona621$83,456
12Wisconsin594$118,685
13Missouri575$112,918
14South Carolina535$68,310
15Maryland507$111,290
16Alabama443$96,534
17Colorado429$88,338
18Kentucky338$104,127
19Iowa336$100,654
20Arkansas317$76,931
21Oklahoma307$76,858
22Louisiana305$69,084
23Kansas248$83,584
24Utah185$97,109
25Idaho178$106,394
26Mississippi169$95,006
27Nebraska144$83,288
28Nevada136$105,995
29Vermont102$115,052
30New Hampshire100$113,449
31Delaware90$114,261
32Rhode Island82$110,600
33Hawaii80$60,926
34South Dakota75$68,787
35North Dakota71$106,771
36Wyoming58$69,738
37New York51$106,780
38Connecticut25$112,827
39Illinois24$107,297
40New Jersey22$102,857
41Florida20$94,354
42Pennsylvania20$91,947
43Georgia19$99,579
44Oregon10$99,858
45Michigan5$95,826
46Maine4$119,480
47New Mexico3$97,652
48Montana3$68,938
49Alaska2$124,634
50West Virginia1$103,589

Health Actuary Education

Health Actuary Majors

13.3 %

Health Actuary Degrees

Bachelors

70.6 %

Masters

23.5 %

Associate

5.9 %

Top Colleges for Health Actuarys

1. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

4. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition
$53,391
Enrollment
8,568

5. Columbia University in the City of New York

New York, NY • Private

In-State Tuition
$59,430
Enrollment
8,216

6. University of Michigan - Ann Arbor

Ann Arbor, MI • Private

In-State Tuition
$15,262
Enrollment
30,079

7. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

8. University of California - Los Angeles

Los Angeles, CA • Private

In-State Tuition
$13,226
Enrollment
31,568

9. University of California, Berkeley

Berkeley, CA • Private

In-State Tuition
$14,184
Enrollment
30,845

10. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

Top Skills For a Health Actuary

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 51.0% of health actuaries listed fsa on their resume, but soft skills such as computer skills and math skills are important as well.

Health Actuary Demographics

Health Actuary Gender Distribution

Male
Male
93%
Female
Female
7%

After extensive research and analysis, Zippia's data science team found that:

  • Among health actuaries, 6.7% of them are women, while 93.3% are men.

  • The most common race/ethnicity among health actuaries is White, which makes up 82.6% of all health actuaries.

Work Experience Programs For Health Actuarys

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Wealth Management Program

Company: Goodbody

Cost: Free

Duration: 5-6 hours

Disputes, Competition & Insurance Program

Company: MinterEllison

Cost: Free

Duration: 3-4 hours

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Cyber Security Management Program

Company: ANZ Australia

Cost: Free

Duration: 5-6 hours

Software Development Program

Company: Standard Bank

Cost: Free

Duration: 4.5-5.5 hours

Digital Intelligence in Business Transformation Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Life Sciences & Healthcare Program

Company: Hogan Lovells US

Cost: Free

Duration: 5-6 hours

Product Design Program

Company: Accenture North America

Cost: Free

Duration: 4 hours

Public Health Policy & Management Program

Company: Australasian Society for HIV, Viral Hepatitis and Sexual Health Medicine

Cost: Free

Duration: 5-6 hours

Developer Program

Company: Accenture Nordics

Cost: Free

Duration: 2-3 hours

Online Courses For Health Actuary That You May Like

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Fundamentals of Insurance - 2
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Fundamentals of Insurance - 1
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Financial Analysis of Insurance Companies – Industry Overview and Analysis of Financial and Regulatory Reporting
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Want to gain a solid understanding of the unique analysis methods needed to assess the financial strength and operating performance of insurance companies in the US and Europe? We’ll begin this course with a look at the main lines of business and the current operating environment of the Life and Health sector of the industry. We will also discuss the impact of changes in interest rates on investment earnings and sales of annuity products. Next, we’ll turn our attention to the property and...

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Top Health Actuary Employers

Most Common Employers For Health Actuary

RankCompanyAverage SalaryHourly RateJob Openings
1Aon$115,802$55.672
2Mercer$113,331$54.491
3Buck Consultants$107,667$51.762
4Anthem$106,121$51.021
5Deloitte$105,763$50.852
6COUNTRY Financial$105,761$50.851
7Mercer Health & Benefits LLC$105,553$50.755
8Smith Hanley Associates$103,782$49.9012
9Washington Office on Latin America - WOLA$102,882$49.461
10Milliman$102,181$49.132