Public Policy News

The Life Principle-Based Approach Practice Note Work Group released an updated version of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations.  (January 17, 2019)
The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note. (January 16, 2019)
The Medicaid Subcommittee submitted comments to CMS regarding a proposed rule that would make changes to the Medicaid and CHIP managed care programs. (January 14, 2019)
The Role of the Actuary Subroup submitted a comment letter to the NAIC suggesting that the definitions and guidance related to the various forms of actuarial opinion in VM-30 could be clarified.  (January 10, 2019)
The Life Reserves Work Group submitted a comment letter regarding credited amounts for indexed accounts in the calculation of the Deterministic Reserve (DR), outlined in amendment proposal form (APF) 2018-44 to the Life Actuarial (A) Task Force.  (January 2, 2019)
The Retirement System Assessment and Policy Committee submitted a comment letter to the Department of Labor on the Definition of Employer under Section 3(5) of the Employee Retirement Income Security Act (ERISA). (December 21, 2018)
Academy Pension Vice President Josh Shapiro submitted a comment letter to U.S. House leaders on The Retirement, Savings, and Other Tax Relief Act of 2018. (December 20, 2018)
The Individual and Small Group Markets Committee submitted comments on the October guidance from the Department of the Treasury and the Department of Health and Human Services on State Relief and Empowerment Waivers under Section 1332 of the Affordable Care Act, focusing on three areas: evaluation of coverage comprehensiveness and affordability, evaluation of coverage, and waiver funding. (December 18, 2018)
The Intersector group released the notes of its April 2018 meeting with the Treasury Department and Internal Revenue Service.  (December 18, 2018)
The Health Practice Council submitted a letter to the Centers for Medicare and Medicaid Services (CMS) in response to its request for comments on proposed rules pertaining to the Medicare Advantage (MA) program, including provisions to revise the risk adjustment data validation (RADV) payment error calculation methodology and process. (December 17, 2018)
The Health Practice Employee Benefits Committee and Individual and Small Group Market Committee submitted comments on the proposed rule regarding Health Reimbursement Arrangements (HRAs), that would create two new types of HRAs—Integrated HRAs and Excepted Benefit HRAs—which would allow employers to provide HRAs that could be used to pay for individual plan premiums and out-of-pocket health costs. (December 13, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter outlining their proposal for a NAIC life insurance online guide landing page.  (November 28, 2018)
The Retirement System Assessment and Policy Committee submitted a comment letter to Congress on the Retirement Enhancement and Savings Act of 2018.  (November 16, 2018)
The Academy published a new Essential Elements paper, Big Data, Big Changes for Insurance and Pensions, highlighting the opportunities and challenges that rapidly evolving advancements in data analysis and storage pose for insurers, consumers, and regulators. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(November 14, 2018 - 12:00pm)
Long-Term Care Valuations Work Group chairperson, Warren Jones, presented an update to the NAIC's Long-Term Care Actuarial Working Group on the progress of the groups activities. (November 14, 2018)
The PBR Governance Work Group provided an update to the Life Actuarial (A) Task Force on the Academy’s involvement with principle-based reserves. (November 14, 2018)
The SVL Interest Rate Modernization Work Group provided an update to the Life Actuarial (A) Task Force on the modernizing the process of setting valuation interest rates for all non-variable annuities. (November 14, 2018)
The Annuity Reserves Work Group provided an update to the Life Actuarial (A) Task Force on their recommended changes to VM-22. (November 13, 2018)
The Reinsurance Work Group gave a presentation to the Life Actuarial (A) Task Force on potential issues relating to VM-20 Credit for Reinsurance.
(November 13, 2018)
Academy Past President Mary D. Miller sent comments to the NAIC on CASTF’s draft 3-year experience proposal.
(November 8, 2018)