This Week, May 20 - 24, 2013

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Recent Academy Activity, May 20–24, 2013

Recent Events

  • Senior Pension Fellow Donald Fuerst testified at a hearing of the U.S. House of Representatives Ways & Means Subcommittee on Social Security that examined bipartisan proposals to adjust Social Security benefits and their effects on the program’s solvency, beneficiaries, workers, and the economy. Fuerst said that raising the full retirement age could help mitigate Social Security’s long-range financial problems and that addressing Social Security’s solvency now would permit more modest changes to be phased in gradually.
  • Senior Health Fellow Cori Uccello testified before the U.S. House of Representatives Energy & Commerce Subcommittee on Oversight and Investigations that the Affordable Care Act’s health insurance issue and rating rules for individual and small group markets, which take effect Jan. 1, 2014, “will affect not only overall average premiums, but also the specific premiums that people will face. Premium changes due to the ACA health insurance market reform rules will vary across states and among individuals and will reflect many factors...”

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Actuaries in the News

  • Several major media outlets, including the Chicago Tribune and Orlando Sentinel, ran a Reuters story on proposed health insurance exchange plan filings in Washington and Oregon that referred to the Academy’s new issue brief, “How Will Premiums Change Under the ACA?
  • Academy Senior Health Fellow Cori Uccello was quoted in a subscriber-only Modern Healthcare story about the May 20 congressional hearing on “Health Insurance Premiums Under the Patient Protection and Affordable Care Act” at which she testified.

Opportunities to Learn

  • Just added! June 17: The Setting the Ground Rules: Revised ASOP No. 1 and Other Key Information for Actuaries webinar will examine new information contained in the revised introduction ASOP No. 1, Introductory Actuarial Standard of Practice, which sets the ground rules for all ASOPs. Effective June 1, 2013, ASOP No. 1 is a complete revision of the previous introduction, and includes new content as well as clarification of prior language.
  • June 4: Don’t miss the Regulatory Issues for Small Insurance Companies Webinar if you are an actuary who works with regulators. You’ll gain a better understanding of regulators’ perspectives on a variety of topics, including risk-focused exams, principle-based reserving for small companies, ORSA and small insurance companies, asset adequacy analysis, and more!
  • Nov. 11–14: The Life and Health Qualifications Seminar is a significant continuing education resource for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement. Attendees could earn up to 27.3 credits including the CE hours required to meet Section 3 of the U.S. Qualification Standards. Seats are limited and fill up quickly so register today!

Newly Released Publications

  • Second Quarter Retirement Account: Read about the Academy’s pension policy activities.

 

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