Public Policy News

Letter Sent to SMI RBC Subgroup on CAS Working Party Activity

The P/C Risk-Based Capital Committee has issued a letter to the Solvency Modernization Initiative RBC Subgroup concerning CAS Working Party research on potential improvements to the NAIC's P/C RBC framework. (July 10, 2012)

Group Long-Term Disability Work Group Submits Report Outline to NAIC

The Group Long-Term Disability Work Group submitted a report outline to the NAIC’s Health Actuarial Task Force (HATF) regarding a valuation proposal for a new group long-term disability table.
(July 6, 2012)

Stop-Loss Work Group Submits Comments on Impact of Stop-Loss Insurance on Small Employers Under ACA

The Stop-Loss Work Group submitted comments to the Employee Benefits Security Administration on small employers' use of stop-loss insurance and how this affects the market for fully insured small health coverage under the Affordable Care Act (ACA).
(July 2, 2012)

Campaign 2012 Toolkit - Making Health Care Reform Work: Why Broad Participation is Necessary (Updated)

The Academy’s Health Practice Council Communications Task Force updated its recent Campaign 2012 voters’ guide, Making Health Care Reform Work: Why Broad Participation is Necessary. The guide is intended to assist voters to understand why broad participation is necessary in the health insurance system to avoid higher premiums. (June 28, 2012)

Comment Letter on Comprehensive Flood Reform Bill

The Flood Insurance Subcommittee has issued a comment letter to Congressional leaders concerning H.R. 4348, a bill to reform the National Flood Insurance Program and reauthorize it for five years.
(June 28, 2012)

Contingent Annuity Work Group presents at interim NAIC meeting

The Contingent Annuity Work Group gave a presentation at an interim meeting of the NAIC Contingent Deferred Annuity (A) Working Group regarding the solvency and risk management issues associated with contingent annuities. (June 27, 2012)

Academy IAWG Submits Comment Letter to NAIC

The Academy's Life Invested Asset Work Group submitted a comment letter to the NAIC Valuation of Securities Task Force related to modification of the methodology for assigning classifications to investments and changing how classification decisions are implemented. (June 20, 2012)

Academy Submits Amendment to VM-20

The Academy's Life Financial Soundness/Risk Management Committee submitted an amendment proposal form to the NAIC Life Actuarial Task Force outlining a simplified approach for determining a prudent estimate mortality assumption for VM-20. (June 18, 2012)

LTC Practice Note Comment Period Extended to July 8

The Long-Term Care Practice Note work group has extended to July 8 the exposure period for the rate stability practice note, Long-Term Care Compliance with the National Association of Insurance Commissioners Long-Term Care Insurance Model Regulation Relating to Rate Stability. (June 12, 2012)

Comment Letter Sent to CMS on Medicaid Payment Rate Change

The Academy’s Medicaid Work Group submitted comments to CMS on a proposed rule regarding payments for Medicaid primary care services. The letter addresses issues relating to actuarial soundness as they pertain to changes in the Medicaid program. (June 12, 2012)

Comment Letter to IRS on Minimum Value

The Academy’s Actuarial Value Subgroup submitted comments to the IRS on Notice 2012-31, Minimum Value of an Employer-Sponsored Health Plan. The letter addresses how to account for non-core benefits and non-standard plan features as well as other considerations related to the treatment of health savings account (HSA) contributions. (June 11, 2012)

Research Brief on Implications of Risk Mitigation Programs

The Academy's Health Practice Council and the SOA jointly released a research brief that summarizes the key findings and policy implications of a study, conducted by Milliman and sponsored by the SOA, of the risk mitigation programs under the Affordable Care Act (ACA)—risk adjustment, reinsurance, and risk corridors. (June 4, 2012)

Comments to ASB on ASOP 4 Exposure Draft

The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on the exposure draft for ASOP 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions, requesting clarification on the implications for retiree group benefits. (May 31, 2012)

Comments to ASB on ASOP 27 Exposure Draft

The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on the exposure draft for ASOP 27, Selection of Economic Assumptions for Measuring Pension Obligations, regarding the implications for retiree group benefits. (May 31, 2012)

Issue brief on the 2012 Medicare Trustees Report

The Medicare Steering Committee updated its annual issue brief that offers an actuarial perspective on Medicare's financial condition and outlines the public policy options to address the program's long-term financial challenges. (May 22, 2012)

Comments on revisions to ASOPs 22 and 28

The Health Practice Financial Reporting Committee sent comments to the Actuarial Standards Board on revisions to ASOPs 22, Statements of Opinion Based on Asset Adequacy Analysis by Actuaries for Life and Health Insurers and 28, Statements of Actuarial Opinion Regarding Health Insurance Liabilities and Assets.
(May 17, 2012)

Letter to CCIIO on Actuarial Value and Cost-Sharing Reduction Bulletin

The Actuarial Value Subgroup sent a letter to CCIIO offering comments on the Actuarial Value and Cost-Sharing Reduction bulletin, specifically addressing the proposed actuarial value calculator. This letter supplements comments submitted April 2 on the cost-sharing inputs for the calculator. (May 16, 2012)

Academy Group Reports on Actuarial Soundness Issues

The cross-practice-Actuarial Soundness Task Force has issued Actuarial Soundness, a Special Report. It provides an overview of the uses of the terms “actuarial soundness” and “actuarially sound” in state and federal legislative and regulatory contexts to inform regulators and the general public of the meanings and implications of these terms. (May 10, 2012)

Letter to CMS on Revised MLR Annual Reporting Form

The Medical Loss Ratio Work Group sent a letter to CMS offering comments on the revised annual reporting form, specifically on the definition of premiums, contract reserves, and the definition of pre-tax underwriting gain/(loss). (May 2, 2012)

Comments on Proposed NAIC 2012 Actuarial Opinion Instructions

COPLFR submitted comments to the NAIC on the Blanks Working Group’s proposed 2012 Actuarial Opinion Instructions. (May 1, 2012)