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Frank R. Kopenski, ASA, MAAA

Principal, Consulting Actuary
Brookfield, WI, US

Tel: +1 262 7842250

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Professional Designations

  • Associate, Society of Actuaries
  • Member, American Academy of Actuaries


  • BS, Mathematics, University of Wisconsin–Milwaukee

Current Responsibility

Frank is a Principal with the Milwaukee office of Milliman. He joined the firm in 1988.


Frank's area of expertise is PACE (Program of All-inclusive Care for the Elderly), Medicare Part D, and prescription drug cost management. He has written papers on the potential cost savings impact of biosimilars for the U.S. insured markets as well as other pharmacy-related topics.

Frank is well recognized for his comprehensive understanding of the Medicare Part D prescription drug benefit and its impact on employers, Medicare Advantage Prescription Drug Plans (MA-PDs), and private prescription drug plans (PDPs). He has extensive knowledge of the PACE (Programs of All Inclusive Care for the Elderly) model of care and provides Part D related bid and fraud waste and abuse consulting services to these programs across the country.

He has performed extensive research and developed important drug cost-related models for Milliman consultants and clients. His vast knowledge of prescription drugs includes benefit design, cost guidelines, and cost management for commercial, Medicare, and Medicaid populations. Frank has analyzed and provided solutions for clients interested in managing their current pharmacy benefit expenditures or creating programs to provide pharmacy benefits for those in need of such coverage.

In addition to pharmacy, Frank has more than 27 years of experience with managed care and more than 30 years of experience with indemnity coverage. He has assisted clients with all aspects of health insurance, including plan design, pricing and rate filings, provider contracting, risk and experience analysis, financial projections, and liability estimation.


  • Understanding biosimilars and projecting the cost savings to employers: Update
  • Understanding biosimilars and projecting the cost savings to employers
  • Assessing the future basis of drug pricing
  • Prescription drug benefit design: The building blocks and their impact on cost
  • The impact of healthcare benefit changes on high-cost utilizers
  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman