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Caveats and Limitations
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This exhibit was prepared for the internal use of the Washington Office of the State Actuary (OSA) and the Washington Department of Social and Health Services (DSHS) and it should not be distributed, in whole or in part, to any external parties without the prior permission of Milliman. We do not intend this information to benefit or create a legal liability to any third party. This communication must be read in its entirety.

The information in this exhibit contains actuarial modeling and analysis regarding premiums, claims, and expenses projected for WA Cares Fund. The projections are intended to provide actuarial analysis in support of OSA’s duties outlined in RCW 50B.04.020 and help inform the WA Cares Fund Risk Management Framework for ongoing program monitoring. The exhibit may not be appropriate, and should not be used, for other purposes.

Milliman has developed certain models to estimate the values included in this exhibit. The intent of the models was to evaluate revenues, expenditures, and headcounts for the WA Cares Fund program. We reviewed the models, including their inputs, calculations, and outputs for consistency, reasonableness, and appropriateness to the intended purpose and in compliance with generally accepted actuarial practice and relevant ASOPs.

In completing this analysis, we relied on information provided by OSA, DSHS, SIB, ESD, and publicly available data, which we accepted without audit. However, we did review this information for general reasonableness.

Many assumptions were used to construct the estimates in this exhibit. Actual results will differ from the projections in this exhibit. Experience should be monitored as it emerges, and corrective actions taken when necessary.

Guidelines issued by the American Academy of Actuaries require actuaries to include their professional qualifications in all actuarial communications. Chris Giese, Annie Gunnlaugsson, and Evan Pollock are members of the American Academy of Actuaries and meet the qualification standards for performing the analyses in this exhibit.
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