The Health Practice Council (HPC) provides objective technical expertise to policymakers and regulators on major health insurance and health care affordability issues, including Medicare.
Drivers of health care costs and slowing the growth in health care spending.
Financial reporting and solvency issues at the state level, such as NAIC-related projects on RBC, as well as emerging international solvency issues and federal regulation of insurance companies.
Federal and state long-term care issues, including the CLASS Act and LTC pricing/valuation.
The Individual and Small Group Markets Committee sent comments to the Center for Consumer Information & Insurance Oversight (CCIIO), expressing concerns on the claims data updates finalized in the 2021 Actuarial Value (AV) Calculator. The comments are for consideration in preparing the draft 2022 AV Calculator.( )
Actuarial Memorandum Practice Note Work Group of the American Academy of Actuaries’ Health Practice Council released the Actuarial Memorandum Practice Note. The purpose of this practice note is to provide information that can be useful for appointed actuaries dealing with the challenges of producing an Actuarial Memorandum in support of the Actuarial Opinion filed as part of the Health Annual Statement Blank (often referred to as the Health Blank or the Orange Blank). However, the concepts covered in this practice note could be useful for other situations requiring documentation for health business.( )
The Health Practice International Committee (HPIC) released the International Health Care Funding Report. This report is the first iteration of a project is intended to be an illustration of international models of health care funding, and reflects the state of 36 health funding systems from around the world as of December 31, 2019. This report is a joint effort of volunteers of the American Academy of Actuaries Health Practice International Committee (HPIC), the International Actuarial Association Health Section (IAAHS), and the Society of Actuaries (SOA) International Section.( )
The Long-Term Care (LTC) Valuation Work Group gave a presentation to the National Association of Insurance Commissioners’ (NAIC’s) LTC Actuarial (B) Working Group on the work group’s progress on the NAIC’s requests that the work group develop a replacement mortality table for LTC active life reserves, develop a replacement lapse table, and consider developing tables for valuation on total lives basis as well as active lives basis.( )
The Long-Term Care (LTC) Valuation Work Group gave a presentation to NAIC’s LTC Actuarial (B) Working Group as part of the NAIC Summer 2020 Virtual National Meeting.( )
The ASOP No. 6 Practice Note Work Group released an exposure draft, ASOP No. 6 - Development of Age-Specific Retiree Health Cost Assumptions for Pooled Health Plans, Including Applications to Non-Pooled Health Plans, to provide information for actuaries valuing retiree health benefit plans. Comments on the exposure draft are due to the Academy by September 30, 2020, and can be sent to Health@actuary.org.( )
The Health Practice Council and its Task Force to Review Actuarial Standard of Practice (ASOP) 11 filed a comment on the Actuarial Standards Board exposure draft, Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports.( )
The Risk Sharing Subcommittee filed comments with the Department of Health and Human Services and the Centers for Medicare and Medicaid Services on exposed Amendments to the HHS-Operated Risk Adjustment Data Validation Under the Patient Protection and Affordable Care Act’s HHS-Operated Risk Adjustment Program.( )
Individual and Small Group Markets Committee issue brief outlining the major factors driving premium changes for the next plan year. This year’s issue brief focuses primarily on the impact of COVID-19 on the 2021 premium rate filings.( )
The Health Practice Council has released an issue brief that examines the different types of risks that insurers can face and the various risk mitigation mechanisms that can be used to address them, Health Insurance Risk Mitigation Mechanisms and COVID-19.( )
The Medicare Subcommittee released an issue brief on the fundamental long-range financing challenges facing the Medicare program. Read the news release.( )
In light of the coronavirus pandemic, the Academy has extended the comment period for the exposure draft of the Actuarial Memorandum Practice Note until June 15. Comments had previously been due in March. The Actuarial Memorandum Practice Note Work Group published the exposure draft in January to provide information that can be useful for appointed actuaries dealing with challenges of producing an Actuarial Memorandum in support of the Actuarial Opinion filed as part of the Health Annual Statement Blank, which is often referred to as the Health Blank or the Orange Blank. Comments can be submitted to email@example.com.( )
The Health Practice Council developed answers to several FAQs discussing the pandemic’s potential effects on health care spending and insurance as insurers develop premiums for 2021. Read the news release.( )
The Health Solvency Subcommittee submitted a response letter to the NAIC Health Risk-Based Capital (HRBC) Working Group for its request to provide the health bond factors over a range of additional time horizons—spanning one to five years.( )
Comments of the Individual and Small Group Markets Committee and Risk Sharing Subcommittee on the proposed rule for the 2020 Notice of Benefit and Payment Parameters (NBPP).( )
Health Public Statements
Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.
Analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public.
Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public. Includes monographs and white papers.
Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.
The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of the health practice councils.
Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.
Practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.