Academy News

Changes coming in 2014 to health insurance premiums stemming from the Affordable Care Act (ACA) will reflect several factors and could vary considerably, according to the American Academy of Actuaries’ new issue brief, How Will Premiums Change Under the ACA? Factors affecting premium changes include: effectiveness of the mandate, plan generosity requirements, employer responses, differences from current state rules, and individual risk characteristics. Read the news release. (May 09, 2013)

Read about recent health care reform activities in the latest edition. (May 08, 2013)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 03, 2013)

The ABCD seeks the benefit of your comments and suggestions regarding its proposed revisions to the ABCD Rules of Procedure. An exposure draft of the proposed revisions can be found on the ABCD website. Deadline to submit your comments to the ABCD is June 30, 2013. (May 02, 2013)

ASOP No. 1, Introductory Actuarial Standard of Practice, is a complete revision of the previous Introduction. It includes new, additional content as well as clarification of prior language, and sets the “ground rules” for all ASOPs. Read ASOP No. 1 now and stay tuned for more learning opportunities about its guidance coming in June. (May 01, 2013)

Read about policy initiatives to shore up retirement security in the United States, what it takes to be a successful entrepreneur, a fresh look at actuarial reserving methods, one man’s path to patenting the modeling algorithm he developed, and much more. (May 01, 2013)

Read about the Academy’s work at the Enrolled Actuaries Meeting, the Health Practice Council’s Capitol Hill visits, and the NAIC’s Spring national meeting, as well as the Academy’s response to a Wall Street Journal op-ed on actuaries and pension funding. (April 30, 2013)

The Rate Review Practice Note Work Group released for comment an addendum to the October 2012 practice note, Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act. Comments on the addendum, which highlights changes to the rate review and disclosure requirements since the initial practice note was finalized, are due by June 3. (April 26, 2013)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (April 26, 2013)

The Life Practice Council presented a webinar reviewing the NAIC Spring 2013 National Meeting and progress on the principle-based approach (PBA) to life reserves. The December 23 webinar included updates on the activities of the NAIC’s Life Actuarial Task Force, PBR Implementation (EX) Task Force, Joint Qualified Actuary (A/B/C) Subgroup, and the Emerging Actuarial Issues (E) Working Group.  In addition the webinar covered Academy PBR efforts as well as a information on current professionalism issues. (April 23, 2013)

The Academy sent a letter to the president and Congressional leaders today regarding the Military Compensation and Retirement Modernization Commission. The letter encourages them to appoint at least one qualified actuary to the newly-established commission. Appointing a qualified actuary would ensure that the commission has among its members an individual who can provide actuarial expertise on policy proposals, especially related to retirement programs. (April 22, 2013)

The Robert J. Myers Public Service Award recognizes actuaries who have made an exceptional contribution to the common good. The Jarvis Farley Service Award is given to Academy members whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession. And, the Award for Outstanding Volunteerism honors Academy volunteers who have made a single, noteworthy contribution above and beyond what is reasonably expected. (April 22, 2013)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (April 19, 2013)

Join the Academy and the Society of Actuaries on June 4 to gain a better understanding of regulator perspectives on a variety of topics, including how actuaries can adapt to the new risk-focused exams, whether principle-based reserving (PBR) makes sense for small companies, and how the Own Risk and Solvency Assessment (ORSA) will evolve and help small companies. (April 19, 2013)

In a news release, the Academy said it recognizes the importance of the issues addressed by newly introduced Congressional legislation and offered its public policy resources to legislators, regulators and other stakeholders at the federal, state and local levels to assist them in understanding the nature of the risks related to the financial soundness of state and local government public pension benefit plans. (April 19, 2013)