Public Policy News

The Academy's Medicaid Work Group presented to the Centers for Medicare and Medicaid Services (CMS) on the Medicaid rate-setting process for Medicaid Managed Care programs. The presentation included a discussion about base data sources, base data adjustments, risk adjustment, risk-sharing arrangements, and performance incentives.  (July 21, 2011)
Co-chairperson of the Joint Academy/Society of Actuaries CLASS Act Task Force Steve Schoonveld gave an update on the Community Living Assistance Supports and Services (CLASS) program at the National Conference of Insurance Legislators (NCOIL) Summer Meeting in Newport, RI (July 21, 2011)
The Academy released a new issue brief, Actuarial Value under the Affordable Care Act. The brief offers an overview of the concept of actuarial value and provides insight into the calculation of actuarial value under ACA.
(July 7, 2011)
The Academy submits written testimony to the House Ways and Means Subcommittee on Health regarding a hearing on the 2011 Medicare Trustees Report. (June 5, 2011)
The Medicare Steering Committee released a new issue brief that summarizes the key cost, access, and quality issues associated with some of the Medicare-related provisions in the various debt and deficit reduction proposals. (May 31, 2011)
The ERM Committee responds to the NAIC on its draft, Own Risk and Solvency Assessment (ORSA) Model Act regarding the ORSA requirements and exemptions from the requirements, specifically the treatment of captive insurers. (May 11, 2011)
The Health Practice Council co-signed a second letter with the Committee on Qualifications Chair to the Arizona insurance director stressing its concern that their regulatory definition of “qualified actuary” for health premium rate actuarial certifications was inappropriate and suggested corrective language. ()
The Long-Term Care Practice Note Work Group has released an exposure draft of the Long-Term Care Rate Stability Practice Note, titled Long-Term Care Insurance Compliance with the National Association of Insurance Commissioners Long-Term Care Insurance Model Regulation Relating to Rate Stability. The practice note will be exposed for a comment period of 30 days. (04/30/2012) ()
At the NAIC Fall 2012 National Meeting the Nonforfeiture Modernization Work Group presented to the Life Actuarial Task Force based upon its report outlining Guaranteed Nonforfeiture Basis Factor Assumptions.  ()
At the NAIC Fall 2012 National Meeting in National Harbor, MD the Deposit Fund Subgroup presented to the Life Actuarial Task Force based upon its report outlining a proposal for reserving synthetic guaranteed income contracts. ()
The Life Illustrations Work Group submitted a comment letter to the Life Actuarial Task Force on the ACLI proposal for an Actuarial Guideline for Indexed Universal Life Illustrations.
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The VM-22 drafting subgroup of the Annuity Reserve Work Group (ARWG) submitted comments to LATF’s VM-22 subgroup on draft sections of VM-22 that cover all non-variable annuities and deposit funds. ()
Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Treasury Department and Internal Revenue Service. ()
The Invested Asset Work Group commented on the American Council of Life Insurers’ Commercial Mortgage Risk-based Capital (RBC) Proposal in a letter to the NAIC’s Life RBC Working Group. ()
The C1 Work Group provided comments on the NAIC Securities Valuation Office Staff Recalibration Project. ()
The Annuity Reserve Work Group delivered a report to the Life Actuarial Task Force proposing the modification of Actuarial Guideline 33 as a solution to reserving for guarantee living income benefits. ()
The Life Reserves Work Group presented to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting with background information on the VM-20 Asset Default Methodology and Development Process. ()
The Deposit Fund Subgroup submitted its proposal for reserving synthetic GICs based upon the report presented to the Life Actuarial Task Force on November 28, 2012.  ()
Life Financial Soundness/Risk Management Committee made a presentation to NAIC’s Life Actuarial Task Force on whether the direct iteration approach for the deterministic reserve results in the same amount as the gross premium valuation approach currently required by VM-20. ()
The Long-Term Care Practice Note Work Group has extended to July 8 the exposure period for the LTC rate stability practice note, "Long-Term Compliance with the National Association of Insurance Commissioners Long-Term Care Insurance Model Regulation Relating to Rate Stability."  ()