Definition The condition in which two or more payment streams have the same present value based on the appropriate actuarial assumptions.

An alternative form of a benefit equal in value. For example, a Lump Sum payout of a benefit rather than smaller monthly payments.

Actuarial equivalent refers to a position where two or more future cash payments have the same current value based on the appropriate estimate made for the purposes of calculating benefits. Actuarial [..]

A plan sponsor's prescription drug plan that is at least equal to or better in terms of benefits when compared to a Medicare Part D Prescription Drug Plan.

If the present values of two series of payments are equal, taking into account a given interest rate and mortality according to a given table, the two series are said to be actuarially equivalent on t [..]

If the present values of two series of payments are equal, taking into account a given interest rate and mortality according to a given table, the two series are said to be actuarially equivalent on t [..]

"Actuarial equivalent" means a payment or series of payments having the same value as the payment or series of payments replaced, computed on the basis of interest rate and mortality assumpt [..]

A health benefit plan that offers similar coverage to a standard benefit plan. Actuarially equivalent plans will not necessarily have the same premiums, cost sharing requirements, or even benefits; however, the expected spending by insurers for the different plans will be the same.