This Week, January 14-18, 2013

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Recent Academy Activity, Jan.14–18, 2013

Announcement

  • The Academy announced that Charity Sack will join the organization as its new director of communications on Jan. 22. Sack will oversee Academy communications to raise the profile of its members and support Academy efforts to provide respected, unbiased actuarial advice on public policy issues.

Member Alerts

  • General Insurance: The 2012 Academy Legislative/Regulatory Review is now available. The review details significant legislative and regulatory activities affecting the actuarial profession, as well as the Academy’s work on these issues. Log in to read the full member alert.
  • Casualty Insurance: The U.S. House of Representatives passed legislation to aid states affected by Superstorm Sandy. The Disaster Relief Appropriations Act of 2013, H.R. 152, provides $50.5 billion in disaster relief funds. Related legislation, the Homeowners Insurance Protection Act of 2013, H.R. 240, establishing a federal reinsurance backstop to state natural disaster insurance programs, was introduced in the House. Log in to read the full member alert.
  • Health Insurance: The U.S. Department of Health and Human Services (HHS) issued a proposed rule on coordination of Medicaid (including additional benefits and cost-sharing flexibility), the Children’s Health Insurance Program (CHIP), and exchange notices and appeals. Log in to read the full member alert.
  • Health Insurance: HHS published Risk Adjustment Model Algorithm Instructions for benefit year 2014 and a series of tables that provide more detail on the proposed risk adjustment model. The Instructions specifically outlines how risk scores would be calculated based on individual diagnoses. Log in to read the full member alert.

Website: New Postings

  • The Annuity Illustration Subgroup submitted comments to the NAIC Annuity Disclosures (A) Working Group on its November 2012 Buyers Guide for Deferred Annuities draft.

Upcoming Events

  • Save the date, Feb. 14 (12:00-1:30 EST): A jointly sponsored webinar with the Casualty Actuarial Society entitled, “Risk of Material Adverse Deviation Disclosure in U.S. Statements of Actuarial Opinion,” will discuss disclosures required of appointed actuaries providing Statements of Actuarial Opinion on P/C Loss and Loss Adjustment Expense Reserves. Stay tuned for more information.
  • Save the date, Feb. 21: The Health Practice Council will present a webinar entitled, “The Relationship Between Medicare and Private Insurance Provider Payment Rates,” that will examine how changes in Medicare rates could affect private plans. Stay tuned for more information.

Academy in the News

  • The Academy’s letter to President Obama and congressional leaders urging them to appoint an actuary to the new federal Long-Term Commission was cited in Insurance Networking News.
  • Several media outlets including Politico and National Review referenced the Academy in published stories about health care reform.
  • A Contingencies feature on how the implementation of the Affordable Care Act will affect young adults sparked extensive media interest. Coverage about the article and interviews with its authors appeared in Forbes magazine, Politico, the National Review, and many other outlets.

News from the Actuarial Standards Board

  • A discussion draft, Revision of Actuarial Standard of Practice No. 8, Regulatory Filings for Health Plan Entities to Include Specific Issues Related to the Affordable Care Act, is available for comment. The ASB’s Health Committee is asking for comments to be sent by Feb. 28.

 

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