[Code of Federal Regulations]

[Title 42, Volume 2]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 42CFR403.258]



[Page 43]

 

                         TITLE 42--PUBLIC HEALTH

 

                    CHAPTER IV--CENTERS FOR MEDICARE

                          & MEDICAID SERVICES,

                        DEPARTMENT OF HEALTH AND

                             HUMAN SERVICES

 

PART 403_SPECIAL PROGRAMS AND PROJECTS--Table of Contents

 

                Subpart B_Medicare Supplemental Policies

 

Sec. 403.258  Statement of actuarial opinion.



    (a) For purposes of certification requests submitted under Sec. 

403.232(b) and subsequent review as specified in Sec. 403.239(a), 

statement of actuarial opinion means a signed declaration in which a 

qualified actuary states that the assumptions used in calculating the 

expected loss ratio are appropriate and reasonable, taking into account 

actual policy experience, if any, and reasonable expectations.

    (b) Qualified actuary means--

    (1) A member in good standing of the American Academy of Actuaries; 

or

    (2) A person who has otherwise demonstrated his or her actuarial 

competence to the satisfaction of the Commissioner or Superintendent of 

Insurance of the domiciliary State of the insuring organization.