American Academy of Actuaries Announces Health Care Cost Initiative

February 27, 2014

WASHINGTON—The American Academy of Actuaries, the public policy and professionalism voice of the U.S. actuarial profession, announces a public policy research partnership with the Health Care Cost Institute (HCCI) to complement the Academy’s intensive examination of health care costs and quality of care in the United States.

The Academy sees in HCCI a shared goal of improving public awareness of health care costs and utilization, and the partnership will allow the Academy to more effectively focus its own public policy work through access to HCCI’s data. HCCI is an independent, non-partisan research non-profit dedicated to creating the United States’ most comprehensive source of information on health care activity and promoting research on the drivers of escalating health care costs.

The decision to join with HCCI for a three-year partnership is a significant step that will enhance and further inform the years of study by the Academy’s Health Practice Council to examine current factors affecting the cost of health care in the United States.

“The American Academy of Actuaries has been heavily engaged in the past few years in assisting policymakers and regulators in Washington and state governments with navigating the complexities of the Affordable Care Act,” said Academy President Tom Terry. “Two years ago, under my predecessor Cecil Bykerk’s leadership, we looked toward more fundamentally addressing health care costs and quality of care to better focus national debate on them. Until we as a nation take concrete steps to address cost growth, we cannot ensure the sustainability of the health system as a whole.”

In March, the Academy’s Health Practice Council will launch the first in a series of papers aimed at providing policymakers with options for addressing cost growth and improving quality of care.

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The American Academy of Actuaries is an 18,000-member professional association whose mission is to serve the public and the U.S. actuarial profession. The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.