On June 18, Cori Uccello, the Academy's senior health fellow, provided members of the U.S. House Committee on Oversight and Government Reform's Subcommittee on Economic Growth, Job Creation, and Regulatory Affairs with an objective actuarial assessment of the three Affordable Care Act (ACA) risk-sharing mechanisms. Read the written testimony and the news release.( )
The Medicare Part D RBC Subgroup published a report to the NAIC’s Health Risk-Based Capital Working Group recommending that no change be made to the risk factors for Medicare Part D coverage.( )
The Health Practice Council released a new issue brief providing an overview of the factors underlying general premium rate setting and highlighting the major drivers behind why 2015 premiums could differ from those in 2014 under the Affordable Care Act (ACA). Click here to read the news release.( )
The Minimum Value Practice Note Work Group released a final practice note related to determinations of minimum value (MV) and actuarial value (AV) under the Affordable Care Act (ACA), which includes a discussion of plan designs not accommodated by the calculators.( )
The Risk-Sharing Work Group submitted a letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a proposed rule related to exchanges and market reforms for 2015, specifically addressing ACA risk-sharing mechanisms.( )
In this month’s HealthCheck, read about the Academy’s new Health Cost and Quality of Care Initiative, enactment of a law preserving the sustainable growth rate for one year, proposed and final HHS rules, a citation of the Academy in a New York Times article on the Genetic Information Nondiscrimination Act, and much more.( )
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.( )