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FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

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Posted 10-10-2014 at 11:25 PM by Ejung1024
Updated 10-11-2014 at 12:12 AM by Ejung1024

A little less than a year after leaving Roosevelt University in December 2011 with a Masters in actuarial science, I began work at a pharmacy benefit management company. Little did I know about the impact of social perception. The outfit that I wore on a day falling on the second week since I started, did not compliment me professionally in combination with my limited business acumen. No matter how good and insightful of a question I asked, I resonated amateur status. I was wearing an Express lavender shawl-like thinly layered shirt with two and a half inch Aldo beige stilettos when I asked the Vice President of my segment a question in line with actuarial thinking, "What are some of the enterprise risks you see in the next few years if the Affordable Care Act (ACA) slowly cements into the American health system and millions of uninsured Americans become covered?" He paused, looked confused, then kindly spit out a generic answer which was the ubiquitous wait-and-see solution most insurance companies were adopting. As I write, I'm realizing I had to elaborate and communicate a bit of my knowledge base to provide some context around my question and me. If I had approached something as laxed as a FAQ session with the Control Cycle approach, then I would most likely be monitoring my solution to the identified problem in the future which is now. So far, his answer was right but now there are new questions since ACA was passed. How much did the medicaid expansion in 2014 change reimbursements from CMS - was it enough to affect our we have positive margin from our support of medicaid clients and howso? How will the risk corridor and reinsurance impact our Exchange and Medicaid clients once it sunsets at the end of 2016? Is it an amount worth looking into further? Perhaps it was a good miss so I could improve, engage, and cement the fundamentals I lack. If I knew then what I know now, I wonder what I could have learned from someone as pointy and intelligent as VP S.C.

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