“Actuarial Value” is a new word for an old idea. It’s simply the measure of the “richness” of a plan design. That is, how strong or weak are the deductibles and co-pays? If a change in deductible is worth 3%, for example, then the actuarial value (and the premium) has changed by 3%.
To read our article on the Power of the Actuarial Value,
you can download it here.
More Than Actuarial Value The upgraded actuarial value calculator, renamed Actuarial Value Analyzer, provides cost modeling that can show the expected cost, line by line, for any plan design and scaled to fit the group under study. Any single plan design change can be detailed in terms of expected changes in frequency of claim, claim size, effect on deductibles, copays, and plan costs.
This Calculator is designed to be the centerpiece of plan design advisement and consulting for any broker/advisor and enable differentiation from competitors.