Actuarial Services

American Benefits Group stands alone as the expert in actuarial services. The dedication to accuracy, reasonable assumptions, service and lower costs is optimized for every American Benefits Group actuarial services client.

American Benefits Group has an actuarial staff that is dedicated only to those functions pertaining to the tasks listed below. When dealing with American Benefits Group, an actuarial client is dealing with the principals of American Benefits Group and not associate level employees. As such, there are no levels of fees to add costs to projects.

American Benefits Group provides actuarial project pricing on flat rates and not hourly charges. Included with the flat rate project cost are the following services as well as interval follow up, adjustment and project presentation.

  • Determine appropriate employee and management contribution rates
  • Prepare alternative benefit strategies based upon various projected scenarios of member and employer contribution rates
  • Determine the fiscal impact of:
    • Plan design alternatives
    • Recommended plan design enhancements and their associated costs
    • Proposed eligibility modifications
    • Proposed alternate plan designs
    • Enacted or proposed State or Federal mandated benefits
    • Entities joining or leaving the plan and other major demographic changes
  • Determination of the plan cost for benefit changes and benefit additions

Historical & Future Fund Experience / Trends

  • Perform projections of Welfare Fund experience
  • Develop and maintain detailed Experience Reports which track experience monthly, thus helping to assess any differences between projections and emerging experience
  • Perform projections in support of annual budget preparation
  • Identify outlier trends and recommend corrective actions
  • Benchmarking of Fund experience by healthcare service component (Hospital, Prescription Drug, etc.) against established standards

Accounting Support

  • Develop estimates for unpaid claims and claims incurred but not reported liabilities (unpaid claim liabilities)
  • Calculate estimates for the accumulated eligibility liability
  • SOP 92-6 calculations
  • Provide all required financial statement information to the Welfare Fund’s external auditors

Other Tasks

  • Identify emerging internal or environmental trends that will affect the Welfare Fund
  • Attend Trustees Meetings and present information and/or deliverables as applicable
  • Creation and evaluating of vendor requests for proposal (RFPs)
  • Utilization Review evaluations