Brent Jensen

FSA, MAAA

Principal, Consulting Actuary

Salt Lake City, UT, US

Brent Jensen is a principal and consulting actuary with Milliman's Health Practice. He is located in Salt Lake City, Utah, and joined the firm in 2010.

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Experience

Brent’s consulting experience covers a wide range of health actuarial projects. He leads projects that cover value-based care, risk sharing arrangements and provider contracting, financial forecasting, pro forma projections, and bundled payment analyses. He is also an expert in pricing, reserving, and employer health and welfare benefits consulting. His clients include ACOs, insurance companies, hospitals and physician groups, and employers.

He is an expert in the various ACO programs and has supported clients as they evaluate and apply for the various direct contracting tracks.

Brent’s recent experience also includes:

Payer/Provider risk sharing arrangements
MSSP and ACO REACH track evaluations
Bundled payment development studies
Evaluations of Centers of Excellence
Provider benchmarking analyses
Plan design relativity studies
ACA rate filings
Annual statements of actuarial opinion
Wellness program ROI studies

Publications and Presentations

Publications

“Medical Inflation: Drivers and patterns.” Milliman White Paper, February 2023.
“ACO REACH: Leveraging data to reach the underserved and address disparities.” Milliman White Paper, December 2022.
“Medicare Shared Savings Program: ACO financial results for 2021.” Milliman White Paper, December 2022.
“ACO REACH: Direct Contracting 2.0.” Milliman White Paper, March 2022.
“How to Succeed in the ACA.” Milliman White Paper, February 2022.
“Evaluating Point Solutions – Employer Considerations.” Milliman White Paper, November 2021.
“Medicare Shared Savings Program: ACO financial results for 2020.” Milliman White Paper, November 2021.
“How does COVID-19 impact risk-based contracting?” Milliman White Paper, January 2021.
“Summary of changes to the CMS direct contracting program.” Milliman White Paper, December 2020.
“Is the vaccine for COVID-19 a white knight for employers?” Milliman White Paper, December 2020.
“Direct Contracting: A program summary and comparison with MSSP and NGACO.” Milliman White Paper, March 2020.
“How Employers Can Address Plan Selection Bias with Risk Adjustment.” Milliman White Paper, September 2019.

Recent Presentations

Society of Actuaries, Webinar, “Inflation in Healthcare”, August 2023.
Society of Actuaries, SOA Health Meeting, “Value Based Care: Panel Discussion,” June 2023.
Society of Actuaries, SOA Health Meeting, “The Inflating Game,” June 2023.
ACO Collaboration Event, “Succeeding as an ACO,” June 2023.
Society of Actuaries, “Value Based Care: Panel Discussion,” October 2022.
NAACOS, “Understanding the Preliminary Benchmark Reporting,” May 2022.
NAACOS, “Adapting ACO Strategy in a Post-Pandemic Environment and Track Selection,” April 2022.
Society of Actuaries, “Competitive Considerations in the ACA Market,” April 2022.
MCOL “Understanding and Evaluating the ACO REACH Model,” March 2022.
Employers Health Coalition of Idaho “COVID Costs to Employers,” January 2022.
MCOL “MSSP ACO Financial Results: The state of the MSSP ACO Market,” December 2021.
MCOL “How does COVID-19 impact risk-based contracting," March 2021.

Professional Designations

Fellow, Society of Actuaries
Member, American Academy of Actuaries

Education

BA, Economics, Brigham Young University

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Publications

Read their latest work

Article

Evaluating and negotiating value-based care contracts

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Learn how provider organizations can evaluate if value-based care is right for them and what type of arrangements exist. Explore types of VBC arrangements, associated risks, and forecasting performance.

Article

Financial monitoring and revenue recognition in value-based care

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Explore financial monitoring and revenue recognition strategies in value-based care, including claims lag mitigation, predictive modeling, and best practices for tracking costs and shared savings.

Article

Value-based care reconciliation: Auditing and payment distribution

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Learn how value-based care reconciliation works, why third-party audits are essential, and how providers can ensure fair payment distribution after the performance period.

Article

Opportunity identification and implementation in value-based care

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Learn how provider organizations can identify and implement strategic initiatives in value-based care. Explore risk adjustment, predictive modeling, and cost-saving interventions.

Article

2025 Milliman Medical Index

27 May 2025 - by Deana Bell, Jason Clarkson, Brent Jensen, David M. Liner, Annie Man, Andrew L. Naugle, Andrew Timcheck

How much is employer-sponsored healthcare expected to cost families and employers in 2025?

Article

Simulating the future impact of shifts to level-funded plans: Health insurance market dynamics

28 March 2025 - by Daniel Perlman, Les Kartchner, Brent Jensen

Our research shows that lower-cost groups moving to the level-funded market will likely result in higher costs for those remaining in the ACA small group market.

Article

Analyzing the impact of shifts to level-funded plans

19 March 2025 - by Daniel Perlman, Les Kartchner, Brent Jensen

With multiple health plan funding options available to small employers, we analyze the impact of shifts to level-funded plans.

Article

Medicare Shared Savings Program: ACO financial results for 2022

02 April 2024 - by Matthew Smith, Brent Jensen, Jacob Anderson, Korye Lockett

We take a close look at ACOs under the Medicare Shared Savings Program, identifying some key trends and patterns associated with financial success.

Article

The winding road to value: Understanding VBC dynamics in each market

12 February 2024 - by Anders Larson, Brent Jensen, Blaine Miller, Simon Moody

As providers increasingly adopt value-based care for reimbursement, it’s important they know the dynamics of each market, from Medicare to commercial to Medicaid.

Article

Medical inflation: Drivers and patterns

02 February 2023 - by Brent Jensen, Doug Norris

With the American economy’s overall costs rising faster in 2022 than in past years, what can we anticipate in the health sector?

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Experience

He is an expert in the various ACO programs and has supported clients as they evaluate and apply for the various direct contracting tracks.

Brent’s recent experience also includes:

Payer/Provider risk sharing arrangements
MSSP and ACO REACH track evaluations
Bundled payment development studies
Evaluations of Centers of Excellence
Provider benchmarking analyses
Plan design relativity studies
ACA rate filings
Annual statements of actuarial opinion
Wellness program ROI studies

Read their latest work

Article

Evaluating and negotiating value-based care contracts

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Article

Financial monitoring and revenue recognition in value-based care

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Explore financial monitoring and revenue recognition strategies in value-based care, including claims lag mitigation, predictive modeling, and best practices for tracking costs and shared savings.

Article

Value-based care reconciliation: Auditing and payment distribution

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Learn how value-based care reconciliation works, why third-party audits are essential, and how providers can ensure fair payment distribution after the performance period.

Article

Opportunity identification and implementation in value-based care

04 August 2025 - by Dustin Grzeskowiak, Jason Altieri, Brent Jensen

Learn how provider organizations can identify and implement strategic initiatives in value-based care. Explore risk adjustment, predictive modeling, and cost-saving interventions.

Article

2025 Milliman Medical Index

27 May 2025 - by Deana Bell, Jason Clarkson, Brent Jensen, David M. Liner, Annie Man, Andrew L. Naugle, Andrew Timcheck

How much is employer-sponsored healthcare expected to cost families and employers in 2025?

Article

Simulating the future impact of shifts to level-funded plans: Health insurance market dynamics

28 March 2025 - by Daniel Perlman, Les Kartchner, Brent Jensen

Our research shows that lower-cost groups moving to the level-funded market will likely result in higher costs for those remaining in the ACA small group market.

Article

Analyzing the impact of shifts to level-funded plans

19 March 2025 - by Daniel Perlman, Les Kartchner, Brent Jensen

With multiple health plan funding options available to small employers, we analyze the impact of shifts to level-funded plans.

Article

Medicare Shared Savings Program: ACO financial results for 2022

02 April 2024 - by Matthew Smith, Brent Jensen, Jacob Anderson, Korye Lockett

We take a close look at ACOs under the Medicare Shared Savings Program, identifying some key trends and patterns associated with financial success.

Article

The winding road to value: Understanding VBC dynamics in each market

12 February 2024 - by Anders Larson, Brent Jensen, Blaine Miller, Simon Moody

As providers increasingly adopt value-based care for reimbursement, it’s important they know the dynamics of each market, from Medicare to commercial to Medicaid.

Article

Medical inflation: Drivers and patterns

02 February 2023 - by Brent Jensen, Doug Norris

With the American economy’s overall costs rising faster in 2022 than in past years, what can we anticipate in the health sector?

Brent Jensen

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Experience

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Read their latest work

Evaluating and negotiating value-based care contracts

Financial monitoring and revenue recognition in value-based care

Value-based care reconciliation: Auditing and payment distribution

Opportunity identification and implementation in value-based care

2025 Milliman Medical Index

Simulating the future impact of shifts to level-funded plans: Health insurance market dynamics

Analyzing the impact of shifts to level-funded plans

Medicare Shared Savings Program: ACO financial results for 2022

The winding road to value: Understanding VBC dynamics in each market

Medical inflation: Drivers and patterns

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CHOOSE A LOCATION AND LANGUAGE

Brent Jensen

Experience

Read their latest work

Evaluating and negotiating value-based care contracts

Financial monitoring and revenue recognition in value-based care

Value-based care reconciliation: Auditing and payment distribution

Opportunity identification and implementation in value-based care

2025 Milliman Medical Index

Simulating the future impact of shifts to level-funded plans: Health insurance market dynamics

Analyzing the impact of shifts to level-funded plans

Medicare Shared Savings Program: ACO financial results for 2022

The winding road to value: Understanding VBC dynamics in each market

Medical inflation: Drivers and patterns

CHOOSE A LOCATION AND LANGUAGE