Health News

Two Academy practice councils made presentations at the NAIC’s Center for Insurance Policy and Research Summit. Dave Neve, chairperson of the Life Financial Soundness Risk Management Committee, made a presentation on issues related to internal modeling for PBR at the summit on behalf of the Life Practice Council. Academy Vice President Mike Angelina, representing the Casualty Practice Council, presented actuarial perspectives on both property/casualty insurance issues and the effects of current liability reporting. (August 27, 2013)
The Minimum Value Practice Note Work Group released a practice note exposure draft related to determinations of minimum value (MV) and actuarial value (AV) under the Affordable Care Act for a 45-day exposure period. Comments on Minimum Value and Actuarial Value Determinations Under the Affordable Care Act should be submitted by September 30. (August 12, 2013)
Reforms introduced by the Affordable Care Act (ACA) may create uncertainty for health insurance issuers. What does this uncertainty mean for your future financial statements, especially given increased ACA requirements for actuarial estimates in financial reporting? Register for the Aug. 22 webinar to learn about the financial reporting implications of several key provisions of the ACA—premium stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities. (August 7, 2013)
Large Group Medical Business Practice Note Work Group released an updated practice note on large group medical business. (August 7, 2013)
The Health Practice Financial Reporting Committee released a new white paper providing an overview of provisions in the Affordable Care Act - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements. (June 25, 2013)
The Medicare Steering Committee submits written testimony to the House Ways and Means Subcommittee on Health regarding a hearing on the 2013 Medicare Trustees Report. (June 20, 2013)
The Medicare Steering Committee updated its annual issue brief that offers an actuarial perspective on Medicare's financial condition and outlines the public policy options to address the program's long-term financial challenges. (June 12, 2013)
The Health Practice Financial Reporting Committee submitted comments to the NAIC on its proposed modifications to the Maintenance Submission Form that addresses an Accounting Standards Update surrounding fees paid to the federal government by health insurers.  (May 17, 2013)
The American Academy of Actuaries will host a May 17 Hill briefing on how changes to health insurance premiums stemming from the Affordable Care Act (ACA) could vary considerably. Experts will present basic premium concepts; provisions in the ACA that affect premiums; and, how the provisions in ACA may change premiums. (May 12, 2013)
The Academy's Senior Health Fellow has written an issue brief that provides an overview of the basic concepts underlying premium calculations, and highlights and examines several Affordable Care Act-related provisions that could affect premiums. (May 9, 2013)
Read about recent health care reform activities in the latest edition. (May 8, 2013)
The Risk Sharing Work Group submitted comments to HHS on the interim final rule implementing amendments to the Notice of Benefit and Payment Parameters final rule. (April 30, 2013)
The Rate Review Practice Note Work Group released for comment an addendum to the October 2012 practice note, Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act. Comments on the addendum, which highlights changes to the rate review and disclosure requirements since the initial practice note was finalized, are due by June 3. (April 26, 2013)
The Medical Loss Ratio (MLR) Work Group submitted comments to CMS on the proposed rule implementing MLR requirements for Medicare Advantage (MA) and Medicare prescription drug (Part D) programs. (April 25, 2013)
Register now for the April 18 webinar to learn more about requirements related to the ACA provision on rate review and disclosure, specifically the final unified rate review template and actuarial memorandum. A representative from the Center for Consumer Information and Insurance Oversight will be available to answer your questions. (April 16, 2013)
Read about recent health care reform activities in the latest edition. (April 10, 2013)
Bob Yee, who chairs the Long-Term Care Valuation Work Group, provided a final recommendation at the NAIC's LTC Actuarial Working Group meeting regarding an LTC valuation table and determined that a table is not feasable at this time because of a lack of quality data.  (April 5, 2013)
The Academy's Individual Disability Table Work Group provided an update to the NAIC's Health Actuarial Task Force at the NAIC's Spring National Meeting highlighting progress on the individual disability table as well as indicating the specific tasks that lie ahead to finish the updated table.  (April 5, 2013)
Cori Uccello, the Academy's senior health fellow, submitted suggested language on actuarial value to the NAIC's Consumer Information Subgroup for inclusion in a "frequently asked questions" document. (April 1, 2013)
Join us to learn more about the recently released minimum value (MV) calculator—an important component of the Affordable Care Act (ACA) implementation. The American Academy of Actuaries will hold this free webinar with representatives from the Center for Consumer Information and Insurance Oversight (CCIIO), who will provide a brief demonstration of the calculator and then answer YOUR questions about the MV calculator. (March 28, 2013)