What is an actuarial summary?

What is an actuarial summary?

• A. The data set extracted from the actuarial study used for actuarial purposes.
• B. The total number of PD determinations filed electronically.
• C. The summary taken from the actuarial study, electronically filed with the Office of Self-Insurance Plans and including required data.
• D. A narrative review by the administrator.

Answer: (C)

An actuarial summary is the formal, concise report drawn from the actuarial study that accompanies a self-insurance plan. It’s the version regulators review: a brief document filed electronically with the Office of Self-Insurance Plans that includes the data the Office requires. This makes it the best choice because it specifically represents the summary portion of the actuarial work, submitted in the mandated electronic format with the required data. The other options describe parts of the process that aren’t the summary itself—that data set from the study, PD determinations, or a narrative administrator’s review.

An actuarial summary is the formal, concise report drawn from the actuarial study that accompanies a self-insurance plan. It’s the version regulators review: a brief document filed electronically with the Office of Self-Insurance Plans that includes the data the Office requires. This makes it the best choice because it specifically represents the summary portion of the actuarial work, submitted in the mandated electronic format with the required data. The other options describe parts of the process that aren’t the summary itself—that data set from the study, PD determinations, or a narrative administrator’s review.