The American Academy of Actuaries’ initiative, Examining the Health Care Equation – Actuarial Perspectives on Cost and Quality, examines health care cost growth and explores options to reduce long-term spending growth and promote high-quality care.
On April 7, 2014, the Academy launched this initiative with a Capitol Hill Briefing as part of its continuing effort to provide objective, unbiased information to serve the public and the United States actuarial profession. The first paper in the series, "New Models of Care Delivery," and the flyer "What Drives the Growing Cost of Health Care" were presented. If you were unable to attend the briefing, please click here to view the presentation.
Click Here for more information on the Academy's latest initiative.
The Health Solvency Work Group sent a letter to the NAIC Health Risk-Based Capital Working Group that offered ideas for alternatives to increasing riks-based capital factors to cover the 3Rs.( )
Academy members made well-received presentations at the National Conference of Insurance Legislators’ Spring Meeting in Savannah March 7-9. Ellen Kleinstuber, vice-chairperson of the Academy’s Pension Committee, presented on a March 7 panel, “Longevity Risk & Insurance.” She also offered comments at a special point-counterpoint discussion on a proposed pension de-risking model act. Joyce Bohl, a member of the Federal Health Committee, presented on March 8 as part of a panel on the Affordable Care Act and underwriting.( )
The Joint Academy/SOA Long-Term Care Valuation Work Group released a final report to the NAIC’s Long-Term Care Actuarial Working Group that highlights the work group's process in considering the development of an LTC valuation table.( )
This webinar discussed the most recent findings on National Health Spending from the Centers for Medicare & Medicaid Services (CMS). Since 2009, health care spending has experienced its lowest growth rates in decades. According to a new analysis from the CMS Office of the Actuary, that was published in the January edition of Health Affairs, this trend continued into 2012 with an increase in spending of only 3.7 percent to $2.8 trillion.( )
The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on revisions to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations.( )
Academy RBC work groups sent a letter to the NAIC SMI RBC Subgroup outlining concerns with a Dec. 9, 2013, Capital Adequacy Task Force Operational Risk Proposal.( )
Rate Review Practice Note Work Group letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a second draft of revisions to the Unified Rate Review Template (URRT) and actuarial memorandum instructions.( )
The Individual Disability Table Work Group released detailed instructions on how to use the newly revised individual disability valuation table.( )
The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on a new proposed list of changes to the Unified Rate Review Template (URRT) for quarterly 2014 and annual 2015 filings. The letter also reiterates several other technical comments on the URRT and actuarial memorandum instructions.( )
The Health Practice Council submitted a comment letter to the U.S. Department of Health and Human Services in response to the proposed rule regarding benefit and payment parameters for 2015. The letter represents input from three Academy work groups on issues associated with composite rating, proposed changes to the actuarial value calculator and methodology, and the three risk-sharing mechanisms.( )