Public Policy News

The Cancer Claims Cost Tables Work Group presented to the NAIC's Health Actuarial Task Force the produced graduated valuation tables, and sample reserve calculations.
(November 18, 2015)
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue, simplified issue and preneed to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 17, 2015)
The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Nonforfeiture Modernization Working Group (NMWG) made a presentation on the gross premium nonforfeiture method to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Deposit Fund Subgroup submitted comments to the Life Actuarial Task Force on rules for separate accounts that fund guaranteed minimum benefits under group contracts related to the synthetic GIC model regulation. (November 16, 2015)
The Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here.
(November 11, 2015)
The P/C Risk-Based Capital Committee submitted a comment letter to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula. (November 10, 2015)
The Medicare Supplemental Work Group sent answers concerning questions regarding the work group’s recommendations on modifications to the Medicare supplement refund formula.
(November 10, 2015)
The Health Solvency Subcommittee provided an update on the evaluation of asset risk in the health risk-based capital (HRBC) formula.
(November 9, 2015)
Pension Practice Council submitted comments to the Treasury Department and Internal Revenue Service regarding final regulations concerning Qualified Longevity Annuity Contracts (QLACs) and their advantages. (November 6, 2015)
The Financial Reporting and Solvency Committee submitted a comment letter to the NAIC's Emerging Accounting Issues (E) Working Group on the “ACA Risk Corridors Collectability” exposure draft.  (October 30, 2015)
The Academy's Health Practice International Committee released a new issue brief exploring the similarities and differences with respect to long-term care reform in Austria, Germany, Israel, Japan, Korea, the Netherlands, and the U.S.  (October 29, 2015)
The Solvency Committee submitted comments to the National Association of Insurance Commissioners on the Group Capital Calculation Recommendation exposure draft. (October 27, 2015)
The Academy held a forum on issues surrounding aging securely at the U.S. Capitol that explored long-term care, lifetime income, and the sustainability of public programs like Medicare and Social Security. (October 23, 2015)
The Medicare Subcommittee released an issue brief that examines the potential for Medicare Advantage plans to improve quality of care at lower prices as part of its Medicare@50 series. (October 23, 2015)
The Long-Term Care (LTC) Reform Subcommittee released issue briefs on LTC insurance portability, product design flexibility, and pricing flexibility as part of its new series on LTC issues. (October 23, 2015)
The Lifetime Income Risk Joint Task Force released three issue briefs in the Risky Business series: one explores financial literacy and education for prospective retirees, and refocused plan design and federal retirement policies; another provides actuarial insights regarding lifetime income planning; and a third examines risk sharing by retirees. The task force also released an issue brief that explains general retirement planning considerations, and another designed to provide a high-level perspective on key aspects related to lifetime income. (October 22, 2015)
The Life Reserves Work Group submitted an amendment proposal to the NAIC regarding the removal of references to the “seriatim reserve” in the Valuation Manual. (October 21, 2015)
The Life Reserves Work Group submitted an amendment proposal to the NAIC regarding the definition and clarification of the term “modeled reserve” in the VM-20.  (October 21, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) on its Price Optimization White Paper that was exposed on Oct. 13. (October 21, 2015)