AmericanAcademyOfActuaries

Website: New Postings

• The Health Practice Council submitted a comment letter to the Center for Consumer Information and Insurance Oversight providing responses to questions on the structure of a proposed actuarial value calculator.

• The Pension Accounting Committee and Public Plans Subcommittee submitted a joint letter to the Governmental Accounting Standards Board in response to its Preliminary Views on Economic Condition Reporting: Financial Projections Life Insurance.

• The Joint Economic Scenario Generator Project Oversight Group released an updated FAQ document that provides important information on the Academy’s Interest Rate Generator. Log in to read the full Member Alert about the updated FAQ document.

News from the Actuarial Standards Board

• The ASB released the ERM Risk Evaluation Exposure Draft for comment. The proposed standard would provide guidance to actuaries when performing professional services with respect to risk evaluation systems, including designing, implementing, using, and reviewing those systems. Comments are due June 30, 2012.

Media Coverage

• As media—and most of Washington—await the U.S. Supreme Court’s decision on the Affordable Care Act, they’re asking actuaries: What now—and what if? Early this week, NPR looked into scenarios that insurers and actuaries might be playing out, and the Academy’s Vice President for Health, Tom Wildsmith, was direct: “What’s keeping [actuaries] up at night is trying to figure out whom they’re going to be covering next year.” And when The Washington Post called to ask “what happens if the mandate falls,” Academy Senior Health Fellow Cori Uccello answered, “It’s all about carrots and sticks … getting healthy people into the insurance pool.”

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