Study Guide for the Society of Actuaries (SOA) Group and Health – Design and Pricing Exam

By: Philip Martin McCaulay

Narrated by: Virtual Voice

This comprehensive guide is designed to equip candidates with the knowledge and skills necessary to excel in the Society of Actuaries (SOA) Group and Health – Design and Pricing examination, covering three essential topics: Plan Provisions and Government Programs, Manual Rates, and Underwriting.
Contents:

1. Plan Provisions and Government Programs:
   • Delve into the intricacies of plan provisions and government programs within the realm of group and individual insurance.
   • Explore medical, dental, and pharmacy plans, as well as long-term disability, short-term disability, and long-term care insurance.
   • Learn to describe and evaluate various coverage options, including group life insurance plans and supplementary programs like Medicare Supplement.
   • Understand the role of these provisions and programs in designing and managing insurance products for diverse populations.
2. Manual Rates:
   • Focus on the calculation and recommendation of manual rates for different insurance coverages.
   • Learn principles and methodologies for determining manual rates for group and individual insurance products, such as medical, dental, pharmacy, disability, long-term care, and life insurance plans.
   • Master manual rate calculations to provide accurate and competitive pricing recommendations, ensuring financial viability and competitiveness in the market.
3. Underwriting:
   • Delve into the principles of pricing and risk assessment in underwriting, at both the individual case level and for blocks of business management.
   • Explore risk adjustment mechanisms, pricing and funding case-specific risks, claim credibility and pooling strategies, and the application of Total Risk Analysis (TRA) strategies.
   • Understand concepts essential for assessing and managing risk in insurance portfolios, enabling informed decisions and optimizing outcomes for insurers and policyholders.

Overall, this study guide provides a comprehensive framework for candidates preparing for the SOA Group and Health – Design and Pricing Exam. By mastering the concepts and skills outlined in these topics, candidates will be well-prepared to navigate the complexities of group and health insurance design, pricing, and underwriting, contributing effectively to the actuarial profession in this dynamic and vital sector.