Paul Schultz named Outstanding Alumnus in Actuarial Science.
We are proud to announce that Paul Schultz is the 2016 Outstanding Alumnus in mathematics. Mr. Schultz is a 1996 graduate with distinction of Purdue University’s Actuarial Science program. He became a Member of the American Academy of Actuaries in 2000 and attained his Fellowship of the Society of Actuaries in 2001.
There will be a meet and greet with Mr. Schultz from 10 am until 11:30 am on Friday, Sept. 23, in the MATH Library Lounge.
Currently Mr. Schultz is the Chief Actuary for Blue Cross/Blue Shield of Vermont (BCBSVT), a non-profit health insurance company doing business in the nation’s second-smallest state. As Chief Actuary, he is responsible for oversight of the actuarial and underwriting functions. He and his team of two credentialed actuaries and four actuarial students develop pricing, filings, forecasts and reserves for all BCBSVT products, including Qualified Health Plans, large group and Medicare Supplement programs.
As lead actuary for rate filings, Mr. Schultz manages relationships with reviewing actuaries and gives testimony at related hearings before the State review board. He serves on internal committees that develop the strategic growth, product, delivery system transformation, and enterprise risk management strategies for the company. He was involved with a State task force reviewing the cost projection assumptions for Green Mountain Care, Vermont’s ultimately unsuccessful attempt at establishing single-payer health care for all Vermonters.
Prior to moving to BCBSVT in 2013, he spent over a decade working with Medicare Part D – the national prescription drug program for seniors – in a number of capacities, from consulting with think tanks working to design the program to creating an insurance company subsidiary at a pharmacy benefit manager in order to offer employer group Part D coverage. Most recently, he had managed a team of nine actuaries responsible for design, pricing, reserving, and reporting for a Medicare Part D suite of products covering over a million individuals at Coventry Health Care (now part of Aetna).
After three summer internships during his time at Purdue, Mr. Schultz started his career in the Pittsburgh office of Towers Perrin (now Willis Towers Watson), blending the skills he learned in his internships with the pension and health & welfare lines of business to specialize in retiree medical benefit design and valuation. He continued that specialization with Mercer in Pittsburgh, where he served as a regional resource for retiree medical consulting with large employers.
Mr. Schultz has served the actuarial profession in a number of volunteer capacities, including several years on the committee writing and grading one of the group health fellowship exams, as well as stints on the American Academy of Actuaries Medicare Steering Group and Joint Committee on Retiree Health.
In his free time, he is president of the Green Mountain Curling Club and has taken part in a number of regional curling competitions. He is the father of two children, the younger of whom dreams of becoming an engineering student at Purdue.