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Mike Gaal, FSA, MAAA

Principal and Consulting Actuary
Chicago, IL, US

Tel: +1 312 5772919

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Professional Designations

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


  • B.S., Applied Mathematics, Carnegie Mellon University

Current Responsibility

Mike Gaal is a principal and consulting actuary with the Chicago office of Milliman. He joined the firm in 2014.


Mike’s areas of expertise encompass the entire spectrum of healthcare coverage, including medical, pharmacy, and welfare programs. His primary responsibilities include modeling and analysis of medical and prescription drug plans in the commercial market and assisting large complex organizations with managing employer-sponsored healthcare coverage.

His experience includes pricing; state insurance department rate filings; and analysis and financial modeling for individual, small group, and large group plans. He has worked extensively with large employers and health plans.

Mike has also provided objective, independent consulting services to organizations evaluating private exchange solutions.

Prior to joining Milliman, Mike worked for a firm that specialized in consulting to hospitals, health systems, and medical groups, primarily on the topics of compensation and benefits for employees, physicians, and executives.

In addition, Mike spent nearly 10 years as a healthcare benefits consultant to large employers in the industry where he assisted employers on benefit design, flexible benefits pricing, vendor procurement, data analytics, and on understanding the impact of health care reform on employee benefit programs.


  • Health Care Reform: What's Been Accomplished? What Next? (BlueCross BlueShield of Western New York and Buffalo Niagara Partnership, October 2014)
  • Taxes and Fees Introduced by the ACA (Published in The ACA@5: An Actuarial Retrospective, August 2015)
  • 3R Implementation: A Year in Review (Wisconsin IASA Fall Meeting, September 2015)
  • Enhancing Risk Adjustment Transfers with Benefit Design, Formulary and Provider Contracting (Health Plan Alliance Risk Adjustment & Revenue Cycle Management Value Visit, Albuquerque, NM, January 2016)
  • The Elusive Nature of Private Exchanges (Bloomberg BNA, Pension and Benefits Daily, March 2016)
  • Work at Milliman

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