Just the ‘Essentials’: New Academy Series Makes Complex Public Policy Issues Clear

February 26, 2014

WASHINGTON—The American Academy of Actuaries is making its actuarial analysis of public policy issues more accessible.
The Academy’s “Essential Elements” series launched today with the release of its first two papers, Long-Term Care Financing and Raising Social Security’s Retirement Age. Each paper in the ongoing series will provide a high-level overview of a specific public policy issue that the Academy has analyzed according to actuarial methods and principles.
“With concise explanations and infographics, ‘Essential Elements’ is designed to boil down often complex content into plain and relevant terms for a broader audience that may be unfamiliar with or have limited knowledge of the subject matter at hand,” said Academy President Tom Terry.
Long-Term Care Financing addresses public policy considerations related to the financing of long-term care, including criteria such as sustainability, eligibility, affordability, coverage options, and compatibility with existing structures. Raising Social Security’s Retirement Age discusses the program’s long-term financial issues, reasons for raising the retirement age, and how this would affect retirees. Other topics anticipated for the series include:
  • Means testing of Social Security;
  • Medicare reform options;
  • Medicare solvency;
  • The National Flood Insurance Program;
  • Pension funding policies; and
  • The Terrorism Risk Insurance Program.
To view or download the currently available papers, or for more information, visit www.actuary.org.

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.