AmericanAcademyOfActuaries

Media Coverage

• Commentary: Taxing Health Benefits Would Make Budget Problem Worse, Not Better
  Roll Call, Oct. 31, 2011
  Reps. Joe Courtney and Tom Cole co-authored an op-ed on the tax treatment of health benefits under the Affordable Care Act that cited the American Academy of Actuaries for a joint Academy/Society of Actuaries technical report on the excise tax contained in then-proposed health care reform legislation.

   

Website: New Postings

• The Cancer Claims Cost Tables Work Group submitted a letter to the NAIC’s Health Actuarial Task Force discussing the progress it has made over the past year and outlining its objectives for the coming year.
• The Group Long-Term Disability Work Group provided an update to the NAIC’s Health Actuarial Task Force at its fall meeting highlighting the progress on the long-term disability valuation table and work that still needs to be completed.
• The ERM Committee submitted wording suggestions to the NAIC on its Own Risk and Solvency Assessment (ORSA) Guidance Manual recognizing the model risk for insurers.
• The Pension Committee received a letter from the Pension Benefit Guarantee Corporation (PBGC) in response to the committee’s October inquiry seeking clarification about instructions for reporting PBGC premium payments made from plan assets.
• Members can pre-order a copy of the 2011 Property/Casualty Loss Reserve Law Manual. The manual is designed to help appointed actuaries comply with NAIC annual statement requirements for statements of actuarial opinion. Updated annually, it is scheduled to be published in November. Click here to learn what’s new for 2011 and to pre-order your copy!

Upcoming Events

• Join the Academy’s Life Practice Council on Nov. 22 for a review of the NAIC Fall 2011 National Meeting and progress on implementing the principle-based approach (PBA) to reserving. Presenters also will discuss updates of the VM–20 impact study and NAIC developments on the Own Risk Solvency Assessment (ORSA). Click here to learn more.
• Save the date to learn more about Medicare! The Academy’s Health Practice Council will present a free webinar on Dec. 9 to provide actuaries from all specialties with essential background on Medicare’s current structure and financial condition as well as options and prospects for reform in light of ongoing efforts to reduce the deficit. This webinar is sponsored by the Academy and cosponsored by the Society of Actuaries and the Conference of Consulting Actuaries. More details coming soon.

Recently Released Publications

• Check out the November/December online issue of Contingencies, along with the supplement, Actuarial Software Now. This issue features a series of articles on expanding long-term care options in a tight economy, as well as a portrait of David Graham Phillips, the muckraking journalist whose once-celebrated novel about financial shenanigans in the insurance industry is now largely forgotten. Articles in the supplement focus on topics such as numerical libraries, cluster-distance sampling, and high-performance computing.

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