Health News

The Health Solvency Work Group sent a letter to the NAIC Health Risk-Based Capital Working Group that offered ideas for alternatives to increasing riks-based capital factors to cover the 3Rs. (March 11, 2014)
Academy members made well-received presentations at the National Conference of Insurance Legislators’ Spring Meeting in Savannah March 7-9.  Ellen Kleinstuber, vice-chairperson of the Academy’s Pension Committee, presented on a March 7 panel, “Longevity Risk & Insurance.”  She also offered comments at a special point-counterpoint discussion on a proposed pension de-risking model act.  Joyce Bohl, a member of the Federal Health Committee, presented on March 8 as part of a panel on the Affordable Care Act and underwriting. (March 10, 2014)
The Joint Academy/SOA Long-Term Care Valuation Work Group released a final report to the NAIC’s Long-Term Care Actuarial Working Group that highlights the work group's process in considering the development of an LTC valuation table. (February 14, 2014)
This webinar discussed the most recent findings on National Health Spending from the Centers for Medicare & Medicaid Services (CMS). Since 2009, health care spending has experienced its lowest growth rates in decades. According to a new analysis from the CMS Office of the Actuary, that was published in the January edition of Health Affairs, this trend continued into 2012 with an increase in spending of only 3.7 percent to $2.8 trillion. (February 6, 2014)
The Academy's Senior Health Fellow submitted written testimony to the U.S. House Oversight and Government Reform for its hearing on the Affordable Care Act's risk-corridor program and whether it constitutes a "bailout" for insurance companies. Read the news release. (February 5, 2014)
The Academy submitted comments to NAIC’s Joint Qualified Actuary (A/B/C) Subgroup on definitions of “qualified actuary” as prescribed by the NAIC. In a letter from Academy President Tom Terry, the Academy stated that it is willing to work with regulators to make qualifications for health, life, and Property/Casualty actuaries more consistent and address concerns about oversight of qualification. (February 3, 2014)
The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on revisions to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations. (February 2, 2014)
Academy RBC work groups sent a letter to the NAIC SMI RBC Subgroup outlining concerns with a Dec. 9, 2013, Capital Adequacy Task Force Operational Risk Proposal. (January 30, 2014)
The NAIC's Health Actuarial Task Force has exposed the Individual Disability Table Work Group's proposed disability table, final instructions for utilizing the table, and final report which includes an actuarial guideline and proposed changes to the Health Insurance Reserves Model Regulation. (January 24, 2014)
Rate Review Practice Note Work Group letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a second draft of revisions to the Unified Rate Review Template (URRT) and actuarial memorandum instructions. (January 24, 2014)
The Individual Disability Table Work Group released detailed instructions on how to use the newly revised individual disability valuation table. (January 17, 2014)
The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on a new proposed list of changes to the Unified Rate Review Template (URRT) for quarterly 2014 and annual 2015 filings. The letter also reiterates several other technical comments on the URRT and actuarial memorandum instructions. (January 3, 2014)
The Health Practice Council submitted a comment letter to the U.S. Department of Health and Human Services in response to the proposed rule regarding benefit and payment parameters for 2015. The letter represents input from three Academy work groups on issues associated with composite rating, proposed changes to the actuarial value calculator and methodology, and the three risk-sharing mechanisms. (December 20, 2013)
The National Association of Insurance Commissioners Health Insurance and Managed Care (B) Committee adopted the Academy/SOA's group long-term disability valuation table and actuarial guideline at its fall national meeting. (December 18, 2013)
The Individual Dsiability Table Work Group gave a presentation on an updated table to the NAIC's Health Actuarial Task Force. (December 17, 2013)
The Long-Term Care Principle-Based Work Group presented an update to the NAIC's Long-Term Care Actuarial Working Group on work to complete the LTC principle-based approach model. (December 16, 2013)
The Academy/SOA's Individual Disability Table Work Group provided a final report and actuarial guideline on a new individual disability table to the NAIC's Health Actuarial Task Force at its fall national meeting. (December 16, 2013)
The Health Practice Council published a new fact sheet that provides an overview of the three risk-sharing mechanisms included in the Affordable Care Act (ACA) - the permanent risk adjustment program, temporary risk corridors, and the transitional reinsurance program. (December 4, 2013)
Are you wondering how key global and domestic stakeholders responded to the insurance contracts accounting exposure drafts and where international accounting is headed? Find out Jan. 2 as the Academy hosts a webinar during which presenters will provide a discussion of the Academy’s comments on key issues in the IASB and FASB exposure drafts on insurance contracts; an overview of concepts and concerns from globally influential bodies on those exposure drafts; and, a look at the direction of global convergence. (December 4, 2013)
The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on the current versions of the Unified Rate Review Template and the actuarial memorandum instructions. (December 4, 2013)