changes in payment processes within your claim administrators, claim appeals, and/or legislative decisions. We have performed reasonable sensitivity testing during our analysis and concluded that the plans pass creditability under a range of pessimistic and optimistic assumptions regarding average prescription drug costs per member. Data Reliance : While Blue Raven Actuarial did review plan design data for reasonableness, we are dependent on the plans’ broker to report accurate and complete plan design information. We did not complete a formal audit of the data. To any extent the data provided is inaccurate or incomplete, it can materially impact the validity of the results provided. Estimation versus Reality : The estimated actuarial values rely on data and assumptions. They are a function of probabilistic claim events that have occurred within an assumed normative data set. The estimated AVs provided are just that –estimates. They do not constitute a factual calculation of future costs and should not be treated as such, including for the use of pricing purposes. Passage of Time : The estimated actuarial values are calculated using data from the past. Since this report has been provided, more claims have occurred, some of which may impact a future estimate of actuarial values. This creditability notice should be refreshed each year, to reflect changes in benefit design, claims experience (real or normative), and changes in the Part D requirements. Certification : The undersigned actuary is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. I certify that this attestation of Part D creditability, along with the actuarial methods, considerations, judgement, and analysis that were used to calculate it, were all performed using generally accepted actuarial principles and practices to form my opinion of this estimate. Further, these methods conform to the appropriate Actuarial Standards of Practice as promulgated by the Actuarial Standards Board, whose standards form the basis of this opinion. If you have any questions about this letter or the contents of the report, please contact me at 804- 229-4825 or nick.allen@blueravenactuarial.com . Respectfully submitted, Nicholas M. Allen, FSA, MAAA, FCA Blue RavenActuarial 3 0 BLUE RAVEN actuarial info@blueravenactuarial.com