Michael Berman has been in the health and disability actuarial field since 1996. During that time he has gained a broad experience within the insurance industry and as an employee benefits consultant. His experience includes:
- Consulting to employer groups with self-insured group medical insurance programs to assist them with the financial management of the plans. The scope of these engagements includes pricing, reserving, and the development of an employee contribution strategy
- Review of Incurred But Not Paid (IBNP/IBNR) reserve valuations for insurance companies and self-insured employers.
- Providing audit support for various external auditors performing financial audits of health insurance companies. These reviews have focused on claim reserves, premium deficiency reserves, PPACA Risk Adjustment liabilities, and PPACA Risk Corridor liabilities.
- Assisting state regulatory authorities with the review of insurance rate filings submitted by health (group and individual) and long term care (LTC) insurance companies.
- Assisting state regulatory authorities with NAIC financial examinations of health (group and individual) and long term care (LTC) insurance companies.
- Litigation consulting related to troubled health insurance companies in receivership. Responsibilities include analyzing legal liability of outside actuarial consultants.
- Served as Appointed Actuary for a health insurance carrier that sold ACA Marketplace, Medicare Advantage, and Medicaid individual insurance. Responsible for claim reserve valuation and developing liabilities for ACA 3R liabilities (Risk Adjustment, Risk Corridor, and CSR).
- Analyzing the financial impact of the Patient Protection and Affordable Care Act (PPACA) for client employer groups using customized actuarial models.
- Conducting actuarial studies for employers assessing the feasibility of reinsuring employee benefits in their captive insurance company.
- Perform group long-term disability reserve valuations for self-insured employers and captive insurance companies.