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MB-5947 - USA (Oregon) - Actuarial Services for Liability, Workers’ Compensation, Dental and Vision Programs - Deadline January 20,2022

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: MB-5947

Government Authority located in Oregon; USA based organization looking for expert vendor for actuarial services for liability, workers’ compensation, dental and vision programs.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide actuarial services for liability, workers’ compensation, dental and vision programs
- Provide analysis of outstanding liabilities of the Workers’ Compensation program as of the most recently completed fiscal year, including estimates of incurred but not reported (IBNR) reserves and unallocated loss adjustment expense reserves
- Cash flow forecasts for each program for the next three fiscal years shall be listed separately by year and by program
- Separate discussion of each program, including carried reserve adequacy, trends in losses, and recommendations regarding funding for the upcoming fiscal year shall be part of the final report.  Appropriateness of current retention levels will also be evaluated
- Other projections or information may be requested by the County.  Provide ongoing actuarial advisory services as appropriate with respect to the engagement.,
- Provide analysis of the funding requirements to begin a self-insured Vision program, including estimates of incurred but not reported reserves and unallocated loss adjustment expense reserves.  
- Review 12-36 months of claim experience, enrollment history, and demographics.
- Evaluate various self-funded issues, such as weighting prior years’ data, analyzing claim volatility, large claim timing, and case-specific vs. industry trend (inflation), etc.
- Provide reasonable ranges for actuarial assumptions (trend factors, expenses, margin, etc.)
- Include self-funded administration fees and self-funded reinsurance (stoploss) fees.
- Compare total projected costs (and potential variance) to current self-funding rates in order to recommend a percent change from current rates.
(2) All the questions must be submitted no later than January 14, 2022.

[C] Eligibility:

Onshore (USA organization Only)

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office premises.

Expiry Date : Thursday, 20 January, 2022

Question Answer Deadline : Friday, 14 January, 2022

Category : Medical Billing and Coding

Country : USA

State : Oregon

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