Good Afternoon,
I have received a hypothetical case to analyze for Medical Benefits Renewal. I need to figure out the Required Premium Rate Adjustment. I was provided the following data:
Avg Enrollment
Current Enrollment
Adjusted Premium Avg
Adjusted Premium Current
Paid Claims
Less Pooled claims
Non-Pooled Claims
Estimated incurred claims
trend
projected claims
Projected Pooling
Total Projected claim
PPACA fees (3%)
Retention (16%)
Required Premium
And I need to figure out the required premium rate adjustment.
Does anyone have the formula or know where I can go to figure out how to get the required premium rate adjustment?
Thanks!
I have received a hypothetical case to analyze for Medical Benefits Renewal. I need to figure out the Required Premium Rate Adjustment. I was provided the following data:
Avg Enrollment
Current Enrollment
Adjusted Premium Avg
Adjusted Premium Current
Paid Claims
Less Pooled claims
Non-Pooled Claims
Estimated incurred claims
trend
projected claims
Projected Pooling
Total Projected claim
PPACA fees (3%)
Retention (16%)
Required Premium
And I need to figure out the required premium rate adjustment.
Does anyone have the formula or know where I can go to figure out how to get the required premium rate adjustment?
Thanks!