Actuarial Outpost > SoA Anybody working on the EOM exercise
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#1
03-03-2012, 04:34 PM
 clueless Join Date: Jun 2011 Posts: 3
Anybody working on the EOM exercise

Is anyone having trouble with the prescription drug calculations for the supplemental plan?
#2
03-21-2012, 10:47 AM
 mwhidden Join Date: May 2011 College: Waterloo Alumni Posts: 6

Are you still working on the EOM exercise?
#3
04-06-2012, 08:56 AM
 EA4ME Member Join Date: Nov 2006 Posts: 228

I'm working on this now. Doesn't seem too bad, but will discuss if anyone else is working on it too.
#4
04-12-2012, 01:51 PM
 meliche Member Join Date: Nov 2008 Posts: 41

I will be working on it beginning May. If you are still at that point, let me know!
#5
04-27-2012, 07:38 PM
 meliche Member Join Date: Nov 2008 Posts: 41

So I have started working on the module exercise and am stumped with modelling the prescription drug portion for the preferred plan.

I have basically done something similar as for the hospital portion of task 2:

(average claim - 10)x number of events x number of claimants. The sum of this would be the total cost to the employer and then over 1,000,000 (the number of claimants), would result in the cost per employee. What am I missing here? Any help is appreciated!

And also note that I am doing this for an employee where medicare has not kicked in yet.
#6
05-01-2012, 05:07 PM
 jred1979 Member SOA AAA Join Date: May 2009 Studying for Exam Raises College: Graduated - Maryville University Favorite beer: Cold and/or Wet Posts: 87

Quote:
 Originally Posted by meliche So I have started working on the module exercise and am stumped with modelling the prescription drug portion for the preferred plan. I have basically done something similar as for the hospital portion of task 2: (average claim - 10)x number of events x number of claimants. The sum of this would be the total cost to the employer and then over 1,000,000 (the number of claimants), would result in the cost per employee. What am I missing here? Any help is appreciated! And also note that I am doing this for an employee where medicare has not kicked in yet.
For an employee, the plan cost is total cost - (10 x number of events), then adjust by the claimaints over 1 million.

Medicare and supplemental are more complex.
#7
05-01-2012, 07:29 PM
 meliche Member Join Date: Nov 2008 Posts: 41

Thanks! That was really helpful.
#8
05-04-2012, 09:31 AM
 EA4ME Member Join Date: Nov 2006 Posts: 228

Quote:
 Originally Posted by meliche So I have started working on the module exercise and am stumped with modelling the prescription drug portion for the preferred plan. I have basically done something similar as for the hospital portion of task 2: (average claim - 10)x number of events x number of claimants. The sum of this would be the total cost to the employer and then over 1,000,000 (the number of claimants), would result in the cost per employee. What am I missing here? Any help is appreciated! And also note that I am doing this for an employee where medicare has not kicked in yet.
I think you just have an order of operations issue. I'm using: (average claim - (# of events x 10)) x # of claimants. Adding this up and dividing by 1,000,000 gets the \$720 cost of benefit.
#9
10-22-2012, 09:09 AM
 rmandel Member SOA Join Date: Jan 2008 Studying for FSA Favorite beer: Great Lakes Brewery Posts: 132

Anyone working on it now?
#10
12-04-2012, 12:53 PM
 almostdone2 Member SOA Join Date: Feb 2012 Posts: 41

I am starting this today. Would like to be done by the end of the year. Please PM me if you want to discuss.

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