Society of Actuaries and Health Care Cost Institute Sign Health Data Agreement

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Dec 22, 2014, 10:28 ET

SCHAUMBURG, Ill. and WASHINGTON, Dec. 22, 2014 /PRNewswire-USNewswire/ -- The Society of Actuaries (SOA) and the Health Care Cost Institute (HCCI), an independent, nonpartisan nonprofit research organization, today announced a partnership agreement on health care data. Through the agreement, the SOA will have access to the HCCI's database to produce new research studies.

One of the primary activities of HCCI is to create and maintain a first-of-its-kind database of updated information about public and private sector health care costs and utilization with data contributions from many insurers in the United States. The SOA will join a research panel with institutions, including major universities and other health care research organizations.

"With the implementation of the Affordable Care Act, medical advancements and the increasing aged population, there is a growing need for objective, unbiased and non-partisan research to inform SOA members, policymakers, businesses and society on potential implications of today's dynamic health care environment," said R. Dale Hall, FSA, CERA, MAAA, Managing Director of Research at the SOA. "This partnership with the HCCI furthers SOA's mission to increase actuarial knowledge and benefit society through improved decision making."

Earlier this year, the SOA added a new staff position to respond to the demand for health care research. Rebecca Owen, FSA, MAAA, serves as Health Research Actuary at the SOA.

"The SOA will be able to develop several major research projects per year with access to the HCCI database, and thus respond to the growing need for informative, qualitative and unbiased research on health costs and utilization," said Owen.

HCCI launched in September 2011 to promote independent, nonpartisan research and analysis on the causes of the rise in U.S. health spending. Bringing together researchers and the industry, the SOA was one of the founding organizations that worked to create HCCI.

About the Society of Actuaries
The Society of Actuaries (SOA) is an educational, research and professional organization dedicated to serving the public, its members and its candidates. The SOA's mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal problems. The SOA's vision is for actuaries to be the leading professionals in the measurement and management of risk. Visit www.SOA.org.

About the Health Care Cost Institute
The Health Care Cost Institute was launched in 2011 to promote independent, nonpartisan research and analysis on the causes of the rise in U.S. health spending. HCCI is governed by a board that includes distinguished economists, actuaries and health care experts. For more information, visit www.healthcostinstitute.org or follow us on Twitter @healthcostinst.

Michael Nowak 847.273.8811 [email protected]

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SOURCE Society of Actuaries