Public Policy

The Health Equity Work Group (HEWG) released a discussion brief, Health Equity from an Actuarial Perspective: Provider Contracting and Network Development. This discussion brief is part of a series developed by the HEWG to provide more context on issues raised in the initial discussion brief, Health Equity from an Actuarial Perspective: Questions to Explore.

The Life Illustrations Work Group updated the Life Insurance Illustrations Practice Note to better reflect current practices actuaries are using when complying with ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation, which was revised and adopted in December 2016.

The Medicare Subcommittee released an issue brief on the financing challenges facing the Medicare program based on the 2021 annual review of the Medicare program’s trustees.

The Long-term Care Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance Reduced Benefit Options (EX) Subgroup regarding the July 22, 2021 exposure draft, Issues Related to LTC Wellness Benefits.

The Academy’s Securing Social Security Essential Elements provides updated figures and information on the financial outlook of Social Security following the release of the 2021 Social Security Trustees report. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. Read the news release.

The Academy’s Medicare’s Long-Term Sustainability Challenge Essential Elements provides updated figures and information on the financial outlook of Medicare following the release of the 2021 Medicare Trustees report. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. Read the news release.

The Individual and Small Group Markets Committee released an issue brief laying out the factors underlying premium rate setting and highlighting the major components driving premium changes in 2022. Read the news release.

The Cyber Risk Task Force released a collection of publications combined together in the Cyber Risk Toolkit. The toolkit is intended to be a resource for interested readers of the general public, public policymakers, the actuarial profession, the insurance sector, and other stakeholders. The toolkit is comprised of an Introduction to Cyber, Cyber Threat Landscape, Silent Cyber, an Introduction to Cyber Data, Cyber Risk Accumulation, Cyber Risk Reinsurance Issues, and Ransomware. The toolkit may be updated periodically to reflect new and emerging work from the task force. 

The Multiemployer Plans Committee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) regarding its Interim Final Rule on Special Financial Assistance pursuant to the American Rescue Plan Act of 2021.

The Long-term Care (LTC) Reform Subcommittee released an issue brief on LTC financing reform proposals involving public programs. This issue brief provides a side-by side assessment of various federal and state reform programs and proposals using essential criteria for LTC financing reform proposals developed by the Academy.

The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted comments to the Centers for Medicare & Medicaid Services (CMS) on the proposed rule, Updating Payment Parameters, Section 1332 Waiver Implementing Regulations, and Improving Health Insurance Markets for 2022 and Beyond.

The Long-Duration Contracts Work Group of the Financial Reporting Committee released an exposure draft of a public policy practice note on the Application of Accounting Standards Update 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts. The exposure draft is Part I: Traditional and Limited-Payment Contracts – Basic Considerations Related to the Liability for Future Policy Benefits. Due to the number of areas of practice impacted by this accounting standard, the white paper is being exposed for comment in sections, of which this is the first. Please send comments to rmfrcanalyst@actuary.org by September 30.

Automobile Insurance Committee comments to the U.S. Department of the Treasury and Federal Insurance Office (FIO) request for information (RFI) relating to regarding FIO's future work relating to monitoring the availability and affordability of automobile (auto) insurance.

The Long-term Care Reform Subcommittee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care (EX) Task Force regarding the June 10, 2021 exposure draft of the actuarial sections within the Long-Term Care Insurance Multi-State Rate Review Framework.  

The Health Equity Work Group (HEWG) released a new discussion brief, Health Equity from an Actuarial Perspective: Health Plan Benefit Design. This discussion brief is part of a series developed by the HEWG to provide more context on issues raised in the initial discussion brief, Health Equity from an Actuarial Perspective: Questions to Explore.