What Is a Health Actuary and How to Become One
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What Does a Health Actuary Do?
Health actuaries work for healthcare organizations and insurance companies. They analyze healthcare data and marketplace trends to determine future financial and strategic plans. Health actuaries prepare rate files, review plan reserves, and interpret medical patterns for new risks and opportunities. They create monthly reports from aggregate health plan data that is collected from national databases. As a health actuary, you also study current and new legislation to ensure your company follows all legal guidelines.
How to Become a Health Actuary
A career as a health actuary requires a degree in a relevant area of studies, such as statistics or actuarial science. Most employers also look for candidates with extensive experience (five years or more) in the healthcare field, in areas like medical accounting, career environments, or health informatics. Acquire an internship or entry-level to gain hands-on experience in the field and to learn medical terminology. Obtaining certification by the Society of Actuaries is not required, but may be helpful in your job search.
