Public Policy News

Life Reserves Work Group (LRWG) submitted comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on net premium reserves. (April 25, 2016)
Life Reserves Work Group (LRWG) submitted comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on term and universal life insurance with secondary guarantees. (April 25, 2016)
The Pension Accounting Committee submitted comments to the Financial Accounting Standards Board on its exposure draft on changes to the disclosure requirements for defined benefit plans.
(April 25, 2016)
The Pension Committee released the exposure draft, Selecting Investment Return Assumptions Based on Anticipated Future Experience. The comment deadline for this exposure draft is June 27, 2016. (April 25, 2016)
The Risk Sharing Subcommittee sent a letter to the Centers for Medicare & Medicaid Services (CMS) with comments on its recent discussion paper, HHS-Operated Risk Adjustment Methodology, that addresses partial year enrollment, use of pharmacy data, use of a concurrent versus prospective model, high-risk enrollee pooling, recalibration of the model, and the transfer formula. (April 22, 2016)
The Casualty Practice Council (CPC) submitted comments to the Actuarial Standards Board (ASB) on the second exposure draft of the proposed actuarial standard of practice (ASOP) Property/Casualty Ratemaking. (April 21, 2016)
The latest issue of PBA Perspectives features an update on principle-based reserving (PBR), which has reached a key milestone after more than a decade of development. The issue also contains regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance. (April 18, 2016)
The Health Care Receivables Factors Work Group sent its recommendation on credit risk factors for health care receivables to the NAIC’s Health Risk Based Capital (E) Work Group. (April 15, 2016)
The Risk Sharing Subcommittee published an issue paper that reviews the first year of experience under the Affordable Care Act’s (ACA) risk adjustment program with a focus on experience in the individual market. Read the news release here. (April 12, 2016)
The Cancer Claim Cost Table Work Group presented to the NAIC’s Health Actuarial Task Force (B) on its progress in updating the 1985 cancer claim cost tables. (April 5, 2016)
The Long-Term Care (LTC) Credibility Monograph Work Group presented an update to the NAIC’s Long-Term Care Actuarial Working Group (B). (April 5, 2016)
The Long-Term Care (LTC) Principle Based Reserve (PBR) Work Group presented its final report to the NAIC’s Long-Term Care Actuarial Working Group (B). (April 5, 2016)
The Risk Sharing Subcommittee presented an update to the Health Actuarial Task Force (B) on its report about the risk adjustment program. (April 5, 2016)
The Premium Review Work Group sent a letter to CCIIO with comments on the 2017 unified rate review template (URRT) and instructions. (March 30, 2016)
The Health Solvency Subcommittee sent a letter to the NAIC’s Health Risk-Based Capital (E) Working Group with comments on Proposal 2016-01-H’s individual premiums and claims footnote. (March 28, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on revisions to Section VM-31 of the Valuation Manual applicable to qualified actuaries for clarification and consistency with the Standard Valuation Law. (March 25, 2016)
Joint Academy Life Experience Committee and SOA Preferred Mortality Oversight Group submitted comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on the removal of the provisions for unisex rates as applied to reserves. (March 17, 2016)
Senior Pension Fellow Ted Goldman submitted comments to the Senate Finance Committee on its hearing, “The Multiemployer Pension Plan System: Recent Reforms and Current Challenges.”
(March 17, 2016)
The Price Optimization Task Force submitted comments to the NAIC’s executive committee on changes made to the proposed Price Optimization White Paper. (March 15, 2016)
The Life Illustrations Work Group submitted comments to the NAIC’s IUL Illustration (A) Subgroup on revisions to Actuarial Guideline (AG) 49. (March 14, 2016)