Public Policy News

The Pension Committee submitted comments to the Actuarial Standards Board responding to its proposed revisions to ASOP No. 25, Credibility Procedures. The comments focused on the exposure draft’s expanded scope of ASOP 25 and raises concerns regarding the standard’s application to pension practice. (December 28, 2012)
The Individual and Small Group Task Force and Premium Review Work Group submitted comments to CMS on a proposed rule regarding health insurance market reforms, which included modifications to the final rule on rate review and disclosure requirements. (December 21, 2012)
The Individual and Small Group Market Task Force submitted comments to CMS on the EHB components of the proposed rule, Standards Related to Essential Health Benefits, Actuarial Value, and Accreditation. (December 21, 2012)
The Academy's Actuarial Value Subgroup submitted comments in response to a request for information on plan data requirements, specifically asking for clarification on whether any AV-related data collection elements will be consistent with those data elements in the AV calculator. (December 20, 2012)
The Health Care Quality Work Group updated its June 2011 fact sheet providing an overview of the Medicare Shared Savings Program and the Pioneer ACO Program. (December 19, 2012)
The Health Care Quality Work Group updated its June 2011 issue brief highlighting a number of actuarial issues that should be considered when designing and implementing accountable care organizations. (December 19, 2012)
The Academy's Actuarial Value Subgroup submitted comments on the proposed rule establishing standards for actuarial value determinations under the Affordable Care Act. (December 18, 2012)
The Committee on Property and Liability Financial Reporting released its 2012 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (December 17, 2012)
The Financial Regulatory Reform Task Force sent comments to the IAIS on its on its proposed policy measures that would be applied to insurers whose failure would cause major disruption to the global financial system. (December 14, 2012)
The Life Practice Council presented a webinar reviewing the NAIC Fall 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. The December 13 webinar included a Fall 2012 LATF update, PBR update, and a presentation on the 2012 Individual Annuity Mortality Tables and Model Regulation. (December 13, 2012)
The Annuity Illustration Subgroup sent a comment letter to the Iowa Insurance Division on selected FAQs in its October 18, 2012 draft memorandum. (December 11, 2012)
The Social Security Committee updated its 2004 issue brief on means testing for Social Security. Means testing is one option to reform the Social Security program that would reduce or eliminate benefits for wealthy and/or high-income participants and beneficiaries as a means of reducing costs. (December 11, 2012)
The Actuarial Guideline 43/C-3 Phase II Work Group sent comments to the NAIC’s C-3 Phase II/AG 43 (E) Subgroup on its November 1, 2012 Work Plan Draft. (December 10, 2012)
The American Academy of Actuaries and Society of Actuaries are jointly sponsoring a new webinar series on recently released Affordable Care Act (ACA) proposed rules. Join John Bertko, the director of special initiatives and pricing at the Center for Consumer Information and Insurance Oversight, and his colleagues, as they provide an overview of three significant proposed rules related to the ACA, and answer audience questions on the rules. Cori Uccello, senior health fellow at the Academy will be the moderator. The webinars will be held on Dec. 10, 13, and 14. (December 7, 2012)
Join the Academy’s Life Practice Council on Dec. 13 for an overview of the NAIC Fall 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. Presenters also will provide an overview of the newly adopted 2012 Individual Annuity Reserving Table which becomes effective January 2014. (December 7, 2012)
Long-Term Care Practice Note Work Group member Dawn Helwig presented at the NAIC's Senior Issues Task Force hearing on long-term care regarding actuarial implications for long-term care insurance.  (December 6, 2012)
Senior Health Fellow Cori Uccello presented to the National Conference of Insurance Legislators regarding states' Affordable Care Act Medicaid expansion decisions.  (November 26, 2012)
COPLFR provided a comment letter to the NAIC's Casualty Actuarial & Statistical Task Force on the Statutory Accounting Principles Working Group's proposed changes to SSAP 65. (November 16, 2012)
The Health Solvency Work Group submitted a letter to the NAIC's Health Risk-Based Capital Working Group describing a model that examines administrative expenses within the context of business risk. (November 16, 2012)
The Health Care Receivables Factors Work Group submitted a letter to the NAIC's Health Risk-Based Capital Working Group that provides recommendations for receivables factors in the current RBC formula. (November 16, 2012)