Mike Bergerson

FSA, MAAA

Principal & Consulting Actuary

Eden Prairie, MN, US

Mike Bergerson is a principal and consulting actuary with the Minneapolis office of Milliman. He joined the firm in 2007.

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Experience

Prior to joining Milliman in May 2007, Mike graduated from the Institute of Technology at the University of Minnesota where he majored in Mathematics with an emphasis in Actuarial Science.

Since joining Milliman’s Health Practice, Mike has specialized in long-term care (LTC) insurance. He has assisted clients in the areas of pricing, state insurance department rate filings, experience analysis, financial reporting, assumption development, and actuarial appraisals.

Mike has spoken at industry and professional meetings and has authored numerous articles and research reports. Mike was also a contributor to an LTC book that is on the current syllabus for a Society of Actuaries Group and Health FSA exam.

Mike is a past member on the Society of Actuaries Long-Term Care Section Council, including serving as Chair.

He currently volunteers on the American Academy of Actuaries Long-Term Care Reform Subcommittee. Mike previously volunteered on the Society of Actuaries Community Engagement Strategy Work Group and as a question writer and grader for the Society of Actuaries Group and Health exams.

Publications and Presentations

Speeches and Presentations:

2024, Speaker “LTC M&A – Are the Floodgates Opening?” Society of Actuaries Long-Term Care and Reinsurance Section webinar.
2021. Speaker. “Milliman LTC Rate Increase Survey Webinar: An industry survey of strategies and experience with rate increases.” Milliman Webinar.
2021. Producer and Speaker. “Impact of COVID-19 on LTC.” Society of Actuaries ImpACT Meeting, Virtual.
2021. Speaker. “COVID-19 Impact on Long-Term Care Insurance.” Society of Actuaries Research Insights Podcast.
2020. Speaker. “COVID Impact on LTC – A Survey of Company Experience.” Milliman Webinar.
2019. Producer and Moderator. “Actuarial Guideline 51 Update.” Actuarial session of Annual Intercompany LTCI Conference, Chicago, Illinois.
2018. Producer and Moderator. “Don’t Hesitate to Innovate.” Actuarial session of Annual Intercompany LTCI Conference, Las Vegas, Nevada.
2017. Producer and Moderator. “Long Term Care Actuarial Regulator Roundtable.” Actuarial session of Annual Intercompany LTCI Conference, Jacksonville, Florida.
2016. Speaker. “Rate Increase Potpourri,” Actuarial session of Annual Intercompany LTCI Conference, San Antonio, Texas.
2012. Moderator. “In-force Rate Actions and Their Effect on the Long-Term Care Insurance Market.” Society of Actuaries Annual Meeting, Washington D.C.
2012. Speaker. “Health Care Reform Overview: Discussion of Key Provisions for Employer Health Groups.” Group Underwriters Association of America Annual Conference, Minneapolis, Minnesota.

Publications/Research Reports:

2025, “Long-term care rate increase survey: An industry survey of strategies and experiences with rate increases.” Milliman research report, April 2025.
2025, Peer Reviewer, “Long-term care insurance valuation: An industry survey of assumptions and methodologies,” Milliman research report, February 2025.
2022. Peer Reviewer. “Long-term care rate increase survey: An industry survey of strategies and experiences with rate increases.” Milliman research report, March 2022.
2021. “Long-term care insurance valuation: An industry survey of assumptions and methodologies.” Milliman research report, November 2021.
2021. “COVID-19 Impact on Long-Term Care Insurance: 2021 Survey.” Society of Actuaries research report, October 2021.
2021. “COVID-19 Impact on Long-Term Care Insurance: 2020 Survey.” Society of Actuaries research report, March 2021.

Articles:

2023, “Could legacy long-term care (LTC) blocks be the next wave of M&A deals?” article published in Milliman Insight, September 2023.
2021. “Unpacking Predictive Analytics for the Long-Term Care Insurance Industry: How New Approaches to Model Visualization Can Support Greater Understanding of Results.” Article published in Society of Actuaries LTC Section Newsletter, February 2021.
2020. “COVID-19 impact on long-term care: A survey of company experience.” Article published in Milliman Insight, November 2020.
2020. “Advantages, Disadvantages, and Considerations for LTC Policy Buyouts.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 53, February 2020.
2020. “Impacts of COVID-19 on in-force long-term care insurance.” Article published in Milliman Insight, April 2020.
2017. “Utilization: Long-Term Care’s “Middle Child.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 46, December 2017.
2017. “Detail Matters: Level vs. Relative Premium Increases and Their Effect on Actuarial Equivalence in Long-Term Care Insurance.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 44, April 2017.
2016. “So What’s the Good News?” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 43, December 2016.
2015. “Landing Spots: Offsetting Premium Increases through Changes to Inflation Protection.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 40, December 2015.
2015. “Benefit Reductions to Offset LTC Premium Increases: Evaluating Options.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 38, August 2015.
2013. “Conducting a Long-Term Care Experience Study.” Article published in Society of Actuaries LTC Section Newsletter, Issue No. 33, January 2013.
2012. “Current State and Future of the Individual LTC Market.” Article published in Milliman Disability Newsletter, Issue DN-117, June 2012.

Textbooks:

Professional Designations

Fellow, Society of Actuaries
Member, American Academy of Actuaries

Education

BS, Mathematics with Actuarial Science Emphasis, University of Minnesota

Affiliations

Long-Term Care Insurance Section Council, Society of Actuaries, Secretary/Treasurer – 2020, Vice Chair – 2021, Chair – 2022
Long-Term Care Committee, American Academy of Actuaries, 2021–present
Group Health Fellowship Exam Grading and Question Writing, Society of Actuaries, 2011–2019
Community Engagement Strategy Work Group, Society of Actuaries, 2023

Publications

Read their latest work

Article

長期介護保険のM&A：2023年以降に得た教訓は?

03 February 2026 - by Mike Bergerson, Prannoy Chaudhury, Jeff Anderson

長期介護保険に関する取引活動が増加しています。本稿では、買い手と売り手に向けたM&Aの動向、および2026年から2027年にかけての市場見通しをお届けします。

Article

Long-term care insurance mergers & acquisitions – What have we learned since 2023?

03 February 2026 - by Mike Bergerson, Prannoy Chaudhury, Jeff Anderson

Long-term care transaction activity is on the rise—understand M&A trends for buyers and sellers and the market outlook for 2026-2027.

Article

Long-Term Care Focus: Q4 2025

10 December 2025 - by Mike Bergerson, Robert Eaton, Nicole Gaspar, Jordan Olds, Joe Neary, Juliet Spector, Jeff Anderson, Anders Hendrickson, Joe Long, Annie Gunnlaugsson, Fiona Ng, Lucy Ouyang, James Stoltzfus

In this issue, we highlight key initiatives, research, and upcoming studies from Milliman’s LTC consultants, including enhancements to our LARA platform, the impact of post-pandemic experience on LTC insurance, and the next iteration of our Milliman Long-Term Care Guidelines (Guidelines).

Article

長期介護フォーカス：2025年第4四半期

長期介護フォーカス本号では、ミリマンの長期介護（LTC）のコンサルタントが現在取り組んでいる主なプロジェクト、研究、今後の調査についてご紹介します。内容には、LARAプラットフォームの機能強化、パンデミック後の経験がLTC保険に与える影響、そしてMilliman Long-Term Care Guidelines（ガイドライン）の次期バージョンに関する情報が含まれます。

Article

Long-Term Care Focus: Q2 2025

11 July 2025 - by Juliet Spector, Mike Bergerson, Robert Eaton, Joe Neary, Courtney Kronlokken, Jeff Anderson, Jeremy Hamilton, Andrew Duxbury, Bryan Rask, Annie Gunnlaugsson

This Long-Term Care (LTC) Focus newsletter showcases some of the projects that Milliman LTC consultants are working on now.

Article

（米国）長期介護保険料率調査

14 April 2025 - by Mike Bergerson, Andrew Duxbury, Courtney Kronlokken

ミリマンの最新の長期介護保険料調査によると、申請された保険料値上げの4分の3近くが全額もしくは一部承認されました。

Article

Long-term care rate increase survey

14 April 2025 - by Mike Bergerson, Andrew Duxbury, Courtney Kronlokken

Nearly three-quarters of all submitted rate increases were fully or partially approved, according to Milliman's latest long-term care insurance rate filing survey.

Article

Long-Term Care Focus: Q1 2025

17 February 2025 - by Juliet Spector, Mike Bergerson, Robert Eaton, Joe Neary, Courtney Kronlokken, Jeff Anderson, Jeremy Hamilton, Andrew Duxbury, Bryan Rask, Annie Gunnlaugsson

This Long-Term Care (LTC) Focus newsletter showcases some of the projects that Milliman LTC consultants are working on now.

Article

長期介護フォーカス：2025年第1四半期

17 February 2025 - by Juliet Spector, Mike Bergerson, Robert Eaton, Joe Neary, Courtney Kronlokken, Jeff Anderson, Jeremy Hamilton, Andrew Duxbury, Bryan Rask, Annie Gunnlaugsson

本四半期号のフォーカス・ニュースレターでは、ミリマンの長期介護（LTC）のコンサルタントが現在取り組んでいるプロジェクトについて紹介します。

Article

長期介護フォーカス：2024年第3四半期

11 September 2024 - by Juliet Spector, Annie Gunnlaugsson, Robert Eaton, Mike Bergerson, Joe Neary, Evan Pollock, Courtney Kronlokken, Randy Beams, Susan Knutson