National Media Relies on the Academy to Clarify Potential Changes to ACA

An Associated Press story on 2016 health insurance rate requests that cites Health Practice Council (HPC) Vice President Catherine Murphy-Barron was published by more than 300 media outlets nationwide, including The New York Times, The Washington Post, Chicago Tribune, San Francisco Chronicle, and CNBC. As the Department of Health and Human Services published 2016 rate filing information reflecting double-digit increases for some plans sold on Affordable Care Act (ACA) health insurance exchanges, Murphy-Barron’s comments to the AP helped readers understand possible rate changes seen in their states, saying, “The increase is not the right thing to be looking at, it’s the general level of the premiums of everyone in that market at that tier.”

Separately, the Academy’s issue brief Implications of Proposed Changes to the ACA in Response to King v. Burwell continues to receive national media attention. Outlets that referred to the issue brief this week included Bloomberg BNA blog, CNBC, The Hill, JD Supra, and Penn LDI.

Visit the Newsroom on the Academy website to see other major publications that cited the Academy in reports on 2016 rate requests and King v. Burwell analysis.

Recently Released

• The May issue of Actuarial Update leads with news that the Actuarial Standards Board (ASB) will hold a public hearing on the need for new or revised actuarial standards of practice (ASOPs) applicable to actuarial work regarding public pension plans. Also in this issue: the HPC has released a new issue brief on the implications of proposed changes to the ACA in light of the looming Supreme Court decision on King v. Burwell; a well-received webinar discussed members’ perceived issues raised in the Academy’s first-ever ethics report; and register now for the Casualty Loss Reserve Seminar and the Life and Health Qualifications Seminar.

Public Policy Activities

• The Academy’s Pension Committee has released a revised and updated practice note, “Selecting and Documenting Mortality Assumptions for Pensions,” to provide information to actuaries on current and emerging practices in the selection and documentation of the mortality assumptions for measuring obligations of defined benefit pension plans and other post-retirement benefits plans.
• Notes from the most recent semiannual Intersector Group meetings between delegates of actuarial organizations (including the Academy) and the Treasury Department and Internal Revenue Service, and between delegates and the Pension Benefit Guaranty Corp., are now available.
• The Pension Committee submitted comments to the ASB on its exposure draft, “Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.”

Alerts

• The NAIC Life Insurance and Annuities (A) Committee voted Thursday to adopt Actuarial Guideline 49. This actuarial guideline is intended to provide guidance for illustrations accompanying indexed universal life products. Read the full alert here or in the member section under “Life Alerts.”

Upcoming Events

• ASB hearing on public pension plans: The ASB hearing on public pension plan issues will take place on July 9 in Washington. The ASB intends to use information obtained through this hearing as it considers next steps in the evolution of ASOPs applicable to actuarial work regarding these plans. For the hearing, ASB is accepting both written comments and requests to present oral testimony. Learn more about the hearing, including the comment and submission guidelines, and register here.
• Registration continues for the 2015 Life and Health Qualifications Seminar, to be held Nov. 9-12 in Arlington, Va. (metropolitan Washington). See why so many of your peers find this seminar the most succinct and effective way to acquire the required basic education and continuing education to assist in being qualified to sign statements of actuarial opinion for NAIC life and health annual statements for those who may not have met the basic education requirements set forth in Section 3.1.1 of the U.S. Qualification Standards.

Nominate a Deserving Member

• The Academy reminds you to submit nominations of members for its two highest awards, the Robert J. Myers Public Service Award and the Jarvis Farley Service Award, as well as for the Outstanding Volunteerism Award. The Myers award recognizes actuaries in public service who have made an exceptional contribution to the common good. The Farley award is given to Academy members whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession. The Outstanding Volunteerism Award honors Academy volunteers who have made a single, noteworthy volunteerism contribution that is above and beyond what is reasonably expected of an Academy volunteer. The Academy will present the awards during its 50th anniversary Annual Meeting and Public Policy Forum, Nov. 12-13, in Washington.

In the News

• A subscriber-only story in Bloomberg BNA reports on comments submitted separately by the Pension Committee and the Public Plans Subcommittee regarding the ASB exposure draft “Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.”
• Analysis offered by the Academy in its issue brief Potential Implications of the Small Group Definition Expanding to Employers with 51-100 Employees is cited in a Live Well Nebraska story that looks at the effects of the ACA’s redefinition of “small group.”
• Real Clear Politics posted a link to the May 25-29 edition of This Week as a resource for readers who are interested in learning about “Assessing ACA Reform Proposals.” The edition contains a link to the HPC’s new issue brief, Implications of Proposed Changes to the ACA in Response to King v. Burwell.

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