Our Actuarial Services – NovaRest Actuarial Consulting

Overview

We are a top actuarial firm that specializes in Health Insurance Consulting and Analytics. Our actuarial firm offers the skills and technical abilities of large actuarial firms with the personal service of a smaller firm. This allows us to provide quality, timely and highly personalized service and expertise, skills and technologies that would otherwise not be available to our clients.

FINANCIAL REPORTING Reliable, accurate estimates and reporting to assist clients with adequate reserves.
click for details

Financial Reporting

Actuarial Opinions
Cash Flow Testing
Reserve development and certification

RISK ASSESSMENT Helps clients to identify areas of risk to maximize profitability.
click for details

Risk Assessment

Projection Modeling for Financial and Operational Risks
Asset/Liability and Capital Management
Underwriting and Pricing models

DATA BASE DEVELOPMENT AND MAINTENANCE Helping to turn your data into meaningful information.
click for details

HEALTH INSURANCE AND MANAGED CARE Comprehensive and sound services in a constantly changing industry sector.
click for details

Health Insurance and Managed Care

Product development
Rate filings
Risk adjuster – use and review
Capitation calculation and review
Disease management support services
Provider reimbursement development and review
Provider contracting support

STATE AND FEDERAL INSURANCE REGULATORS One of the few firms in the industry with extensive experience supporting insurance regulators.
click for details

Support for State and Federal Regulators

Health insurance reform review
Mandated benefit impact analysis
Actuarial Financial Examination support
Audit Support
Supervision and Receiverships support
Rate Filing review
Form A filing review
Uninsured – State Planning Grant support
Medicaid Upper Payment Limit calculation

Rate filing review:

- Review the rate complaint and determine the level of review required for the particular circumstance
- Review rates in comparison to those of comparable products in the market place
- Review the financial statement of the insurance carrier to determine historic profit margins and financial strength, if provided
- Review the filing for completeness, consistency, and reasonableness
- Determination of compliance of any rate filings to statutory requirements
- Testify at rate hearings

Medicare bid reviews:

Review bids in accordance with Department of Health and Human Services Centers for Medicare and Medicaid Services (CMS) guidance and professional actuarial standards
Verify the underlying assumptions are reasonable and that they adequately support the overall bid