Specifications include, but are not limited to: 3.1.1. The selected vendor must have actuarial staff who have Fellow of the Society of Actuaries (FSA) designation and are members of the American Academy of Actuaries. 3.1.2. The selected vendor must develop, implement and certify capitation rates and actuarial sound rates, including the preparation of written materials and supporting documentation, annually and as needed, for managed care programs. 3.1.3. The selected vendor must utilize a capitation rate development process that complies with CMS regulation and guidance and actuarial standards and practices, which includes, but is not limited to: 3.1.3.1. Collecting, processing, and validating MCO encounter data for claims paid by the MCO on a fee-for-service basis and sub capitated services.
