Stephanie Leary

ASA, MAAA

Associate Actuary

New York, NY, US

Stephanie Leary's focus is in Medicare Part D. However, she has worked on a wide variety of projects including Medicare Part C bids, Medicare Part D plan sponsor profitability, budget impact models, financial analyses for Medicare plans and manufacturers, reserving, contribution rate setting, and other claims data analytics on Milliman's Medicare and commercial claims databases.

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Experience

Stephanie has extensive experience in Medicare Part D financial dynamics and in SAS analyzing patients, drugs, and diseases in Milliman's Consolidated Health Cost Guidelines Sources Dataset (CHSD), IBM MarketScan database, and the Centers for Medicare & Medicaid Services (CMS) 100% Medicare Fee-for-Service (FFS) claims database that contains all Parts A, B, and D claims for Medicare FFS beneficiaries.

Professional Designations

Stephanie is an associate of the Society of Actuaries (ASA) and a member of the Academy of Actuaries (MAAA)

Education

Stephanie graduated from the University of Connecticut with a bachelor's degree in Actuarial Science.

Publications

Read their latest work

Article

4 key takeaways from the third round of drugs selected for Medicare drug price negotiation

20 February 2026 - by Maggie Alston, Massey Whorley, Stephanie Leary, Isabelle Creavin

The Centers for Medicare and Medicaid Services announced the list of drugs selected for price negotiation for 2028. We broke down the implications.

Article

Bleeding-related hospitalizations among direct oral anticoagulant users and nonusers in Medicare fee-for-service

22 July 2025 - by Carol Bazell, Maggie Alston, Stephanie Leary, Winston Fopalan, Latha Ganti, Raymond Chang, H. Andrew Wilsey, Christopher Baugh

Among Medicare fee-for-service members, we found the bleeding-related hospitalization rate was four times higher for users of direct oral anticoagulants.

Article

Variation in prevalence and burden of chronic obstructive pulmonary disease by state and insurance type in the United States

26 February 2025 - by Carol Bazell, Maggie Alston, Norbert Feigler, Hayley Germack, Stephanie Leary, Winston Fopalan, David Mannino

Our research on COPD populations shows wide variations in prevalence and burden of disease, depending on the U.S. state and patient insurance type.

Article

Stakeholder perspectives on the transformative IRA Part D benefit redesign

21 December 2023 - by Bruce S. Pyenson, Jennifer Carioto, Michael Rothschild, John Miller, Stephanie Leary

We discuss how the Inflation Reduction Act could affect Medicare Part D plans, members, the government, and pharmaceutical manufacturers.

Stephanie Leary

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Experience

Read their latest work

4 key takeaways from the third round of drugs selected for Medicare drug price negotiation

Bleeding-related hospitalizations among direct oral anticoagulant users and nonusers in Medicare fee-for-service

Variation in prevalence and burden of chronic obstructive pulmonary disease by state and insurance type in the United States

Stakeholder perspectives on the transformative IRA Part D benefit redesign

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Stephanie Leary

Read their latest work

4 key takeaways from the third round of drugs selected for Medicare drug price negotiation

Bleeding-related hospitalizations among direct oral anticoagulant users and nonusers in Medicare fee-for-service

Variation in prevalence and burden of chronic obstructive pulmonary disease by state and insurance type in the United States

Stakeholder perspectives on the transformative IRA Part D benefit redesign

CHOOSE A LOCATION AND LANGUAGE