This Week: Feb. 6 - 10, 2017

Read the latest news from the Academy.

Recent Academy Activity, Feb. 6–10, 2017

Issue Brief Explores High-Risk Pools for Health Insurance

A new issue brief from the Individual and Small Group Markets Committee, Using High-Risk Pools to Cover High-Risk Enrollees, provides an overview of three possible structures for high-risk pools in the health insurance market. Because the impact of a high-risk pool program on insurance coverage, premiums, and government spending depends on the details underlying its structure, the issue brief examines the implications of various design features, including eligibility criteria, benefit coverage, funding sources, and regulatory responsibility.

Extra-Early Registration Now Open for 2017 Annual Meeting and Public Policy Forum

Registration opened this week for the Academy’s 2017 Annual Meeting and Public Policy Forum, to be held on Nov. 14 and 15 at the Fairmont Hotel in Washington, D.C. If you have attended before or spoken with peers who have, you know this is an exceptional event that will give you a unique and in-depth look at the top public policy issues facing the actuarial profession. Register at the discounted extra-early rate to assure you are there to get the information you need to stay on top of the issues that matter the most to you, your profession, and our nation.

Just Announced—March Professionalism Webinar

Save the date for a professionalism webinar on the Code of Professional Conduct, to be held from noon to 1:30 p.m. EDT on March 28. The webinar—suitable for actuaries in all practice areas—will feature Tom Wildsmith, immediate past president; Joeff Williams, vice president, professionalism; and Chad Wischmeyer, member of the Council on Professionalism. This quarterly webinar series is a popular way for members to stay abreast of current professionalism topics and earn valuable continuing education credit. Make sure to mark your calendars and plan to attend.

Save the Date: Annual Life and Health Qualifications Seminar

  • Seeking basic and/or continuing education credits to sign the NAIC life and health annual statement actuarial opinions? Mark your calendar to attend the Academy’s 2017 Life and Health Qualifications Seminar, to be held Nov. 12–16 at the Key Bridge Marriott in Arlington, Va. Offered each year, this seminar will educate and offers an optional exam for actuaries on the basic education subjects required by the Specific Qualification Standards of the U.S. Qualification Standards to sign life and health statutory opinions. This seminar is perennially highly regarded and draws a capacity attendance. Registration will be opening soon.

Recently Released

  • The February issue of HealthCheck features the Individual and Small Group Markets Committee’s issue paper examining the individual health insurance market and implications of potential changes thereto; written testimony submitted for the record on the effectiveness of the individual mandate under the Affordable Care Act; and regulatory, legislative, and executive actions affecting the health care landscape.

Upcoming Events

  • An agenda at a glance is now available for the Academy’s PBR Boot Camp, which will be held May 22 to 24 in Orlando, Fla. Offered for the first time last year to sold-out audiences, this intensive two-and-a-half-day seminar will deliver instructional sessions and interactive case studies to provide attendees with key learning experiences to implement and utilize PBR. Earn up to 24 hours of organized-activity continuing education credits. Register now and plan to join your fellow life actuaries for this popular seminar that will ensure you stay ahead of the PBR curve. Extra-early rates are available through Feb. 28.

Law Manuals Available to Order

  • Make sure you have the information you need for opinion season, and order your copy of the new Life & Health Valuation Law Manual. This essential manual, updated for 2017 with the latest regulations and available in a number of formats, is designed to help appointed actuaries comply with the requirements of the NAIC Model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation.

  • The Academy’s Property/Casualty Loss Reserve Law Manual is also available to order. Updated annually and designed to help appointed property/casualty actuaries comply with NAIC annual statement requirements, the manual includes statements of actuarial opinion (SAO) requirements and state laws and regulations establishing those requirements; annual statement instructions for the SAOs for P/C, title loss, and loss expense reserves; and other pertinent annual statement instructions. Single and multiple user versions are available for order, allowing you to select the version that best suits your needs.

Public Policy Activities

  • Academy Senior Health Fellow Cori Uccello and Karen Bender, chairperson of the Academy’s Individual and Small Group Markets Committee, submitted testimony on the effectiveness of the individual mandate under the Affordable Care Act (ACA) to a U.S. House Ways and Means Oversight Subcommittee hearing.

  • The AG 43/C-3 Phase II Work Group submitted comments to the NAIC’s Variable Annuities Issues (E) Working Group on version 1 of the draft specifications for the second quantitative impact study.

In the News

  • Academy Senior Life Fellow Nancy Bennett discussed the significance of the switch to principle-based reserving for life insurance in a Yahoo Finance article on PBR implementation. The article was republished by Yahoo Finance Australia, Yahoo Finance India, and Yahoo Finance Singapore.

  • A National Association of Plan Advisors story cited Academy Senior Pension Fellow Ted Goldman’s presentation on “Longevity and Retirement Security” at the U.S. Chamber of Commerce’s “The Shifting Paradigm of Retirement” forum in Washington on Feb. 3.

  • The Georgetown University Health Policy Institute’s Center on Health Insurance Reforms published a blog post relaying the key findings of the Academy’s issue paper evaluating the health insurance individual market and reform options. The issue paper was also cited in a Healthcare Law Insights story about the potential impact of a “slow repeal” of the Affordable Care Act.

  • A Health Affairs Blog post discussing the underlying forces that led to an average increase in premiums for marketplace plans cited the Academy’s issue brief on 2017 health premium drivers.

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