Public Policy News

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)
The Life Practice Council presented a webinar reviewing the NAIC Spring 2013 National Meeting and progress on the principle-based approach (PBA) to life reserves. The December 23 webinar included updates on the activities of the NAIC’s Life Actuarial Task Force, PBR Implementation (EX) Task Force, Joint Qualified Actuary (A/B/C) Subgroup, and the Emerging Actuarial Issues (E) Working Group.  In addition the webinar covered Academy PBR efforts as well as a information on current professionalism issues.
(April 23, 2013)
The PBR Strategy Subgroup submitted a comment letter to the NAIC Principle-Based Reserves (EX) Task Force on legislative brief outlining the ramifications of the Standard Valuation Law for state legislatures.  
(April 22, 2013)
The Academy sent a letter to the president and Congressional leaders today regarding the Military Compensation and Retirement Modernization Commission. The letter encourages them to appoint at least one qualified actuary to the newly-established commission. Appointing a qualified actuary would ensure that the commission has among its members an individual who can provide actuarial expertise on policy proposals, especially related to retirement programs. (April 22, 2013)
Join the Academy and the Society of Actuaries on June 4 to gain a better understanding of regulator perspectives on a variety of topics, including how actuaries can adapt to the new risk-focused exams, whether principle-based reserving (PBR) makes sense for small companies, and how the Own Risk and Solvency Assessment (ORSA) will evolve and help small companies. (April 19, 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)
The Casualty Practice Council, represented by Chairperson Mike Angelina, presented an actuarial perspective on insurance for acts of terrorism at the NAIC's Center for Insurance Policy and Research Brunch. (April 9, 2013)
The C1 Work Group gave a presentation to the NAIC Risk-Based Capital Working Group on the development of factors for corporate bonds in the RBC formula.   (April 6, 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)
Subgroups of the Life Practice Council gave presentations to the NAIC’s Life Actuarial Task Force regarding development of an aggregate margin and mortality studies, submitted reports on nonforfeiture modernization and, synthetic guaranteed investment contracts and proposed amendments to VM-20 regarding policy loans, deterministic reserve and pre-tax investment maintenance reserve. (April 4, 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)
The Property/Casualty Risk-Based Capital Committee provided a report to the NAIC’s Property/Casualty Risk-Based Capital Working Group on the reinsurance credit risk charge in NAIC Property/Casualty Risk-Based Capital. (March 29, 2013)
The Casualty, Health, Life, and Professionalism Councils sent comments to the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup in response to its request for comments to a list of nine questions in anticipation of the Subgroup’s meeting at the NAIC Spring National Meeting on April 5, 2013. (March 28, 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)
The Medical Loss Ratio Work Group submitted comments to HHS on a proposed rule that requires issuers to offer a new type of individual health insurance policy covering contraceptive benefits. The comments focus only on the effect of the proposed rule on the MLR calculation. (March 28, 2013)
The Separate Account Products Work Group (SAWG) commented on the December 20, 2012 document, “Review of Non-Variable, Insulated Products/Product Characteristics with Proposed Recommendations” that was exposed on January 9 by the NAIC Separate Account Risk (E) Working Group. (March 25, 2013)