The Health Practice Council sent a letter to members of Congress outlining potential adverse consequences of delaying the Affordable Care Act's (ACA) individual mandate and/or extending its open enrollment period. Read the news release.
( )The Health Practice Financial Reporting Committee released a new issue brief providing an overview of Affordable Care Act provisions - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements.
( )Joint Committee on Retiree Health, Pension Committee, and Pension Finance Task Force sent a letter to the Actuarial Standards Board (ASB) on coordinating Actuarial Standards of Practice (ASOPs) involving retirement benefits.
( )Health Solvency Work Group submitted responses to questions from the NAIC's Health Risk-Based Capital Working Group regarding HSWG's model that examines expenses within the context of business risk concentration risk.
( )The Group Long-Term Disability Work Group sent a final proposed group long-term disability actuarial guideline and final report to the NAIC's Health Actuarial Task Force for exposure with comments due by Oct. 30.
( )The State Long-Term Care Task Force made a presentation to the Southeastern Regulators Association Conference on actuarial implications for long-term care insurance.
( )Join us for a discussion of the Exhibit 3A instructions, which are new for the 2013 NAIC Health Annual Statement. Presenters will provide an overview of the health care receivables, discuss the purpose of the new exhibit, and share examples with cross references to Exhibit 3 and Underwriting & Investment Exhibit Part 2B.
( )Health Care Receivables Factors Work Group makes a presentation to the Valuation Actuarial Symposium on the NAIC Health Annual Statement's new Exhibit 3A, which provides guidelines for health care receivables.
( )Academy/SOA Individual Disability Table Work Group presents update to the Disability Insurance & Long-Term Care Insurer's Forum on work being done to complete the individual disability table.
( )Learn what’s new and find out what has been updated in the Academy’s practice note, “Large Group Medical Insurance Reserves, Liabilities, and Actuarial Assets,” which provides information for valuation actuaries regarding their responsibilities relating to the determination of reserve levels and other actuarial assets and liabilities for large group medical insurance coverage. The Sept. 27 webinar topics will include the definition of large group medical business; funding arrangements that are currently being used; pertinent regulatory and legislative issues; and asset adequacy analysis.
( )The Medical Loss Ratio (MLR) Work Group submitted additional comments to CMS on the proposed rule implementing MLR requirements for Medicare Advantage (MA) and Medicare prescription drug (Part D) programs.
( )Health actuaries: Do you calculate minimum or actuarial values under the Affordable Care Act? Register now to learn about the new minimum value and actuarial value requirements under the ACA and some of the technical issues associated with these calculations.
( )Health and Pension Practice Council sent a letter to the Actuarial Standards Board on coordinating Actuarial Standards of Practice (ASOP) affecting pension and retiree group benefits.
( )Joint Committee on Retiree Health submits comments to the Actuarial Standards Board on revisions to a second exposure draft of ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Prefunding Contributions.
( )Two Academy practice councils made presentations at the NAIC’s Center for Insurance Policy and Research Summit. Dave Neve, chairperson of the Life Financial Soundness Risk Management Committee, made a presentation on issues related to internal modeling for PBR at the summit on behalf of the Life Practice Council. Academy Vice President Mike Angelina, representing the Casualty Practice Council, presented actuarial perspectives on both property/casualty insurance issues and the effects of current liability reporting.
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