Public Policy News

The Workers Compensation Committee submitted a comment letter to California's Office of Self Insurance Plans that expresses concerns regarding guidance issued to actuaries who are evaluating self-insured workers compensation plans. (March 30, 2017)
The Pension Committee submitted a comment letter to the IRS on an update to mortality tables for determining the present value for defined benefit pension plans. (March 30, 2017)
The Individual and Small Group Markets Committee and the Medicaid Subcommittee sent comments to U.S. House Leadership on H.R. 1628, the American Health Care Act (AHCA), which is intended to repeal and replace provisions in the Affordable Care Act. (March 22, 2017)
The Medicaid Funding Work Group published an issue brief addressing key design elements of block grants and per capita caps in relation to program sustainability. (March 17, 2017)
The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on a draft report on operational life risk-based capital. (March 17, 2017)
Academy Senior Casualty Fellow Jim MacGinnitie presented the Actuaries Climate Index and Actuaries Climate Risk Index to the Inter-Agency Forum on Climate Change Impacts and Adaptations meeting at NASA headquarters in Washington. (March 16, 2017)
The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 (A) Subgroup on the VM-22 Maximum Valuation Interest Rates for Income Annuities draft report. (March 14, 2017)
The Individual and Small Group Markets Committee sent comments to the U.S. House Committee on Education and the Workforce on H.R. 1101, the Small Business Health Fairness Act, related to association health plans.
(March 8, 2017)
The Individual and Small Group Markets Committee submitted a letter to the Centers for Medicare & Medicaid Services (CMS) regarding the proposed rule on market stabilization. (March 7, 2017)
The Financial Reporting Committee (FRC) submitted comments to the International Actuarial Association (IAA) on the exposure draft of its “Risk Adjustments for Financial Reporting of Insurance Contracts under International Financial Reporting Standards No. X” monograph. (February 28, 2017)
The SVL Interest Rate Modernization Work Group submitted comments on a revised weighting methodology proposal to the NAIC's VM-22 (A) Subgroup. (February 17, 2017)
Academy Senior Health Fellow Cori Uccello and Karen Bender, chairperson of the Academy's Individual and Small Group Markets Committee, submitted testimony on the effectiveness of the individual mandate under the Affordable Care Act (ACA) to a U.S. House Ways and Means Oversight Subcommittee hearing.  (February 6, 2017)
The AG 43/C-3 Phase II Work Group submitted comments to the NAIC’s Variable Annuities Issues (E) Working Group on version 1 of the draft specifications for the second quantitative impact study. (February 3, 2017)
The ERM/ORSA Committee submitted comments to the Actuarial Standards Board (ASB) on its Capital Adequacy Assessment for Insurers exposure draft. (January 31, 2017)
The Health Financial Reporting and Solvency Committee sent comments to the Long-Term Care Valuation (B) Subgroup on asset treatment for stand-alone LTC asset adequacy analysis. (January 26, 2017)
The Standard Valuation Law Interest Rate Modernization Work Group submitted comments to the NAIC’s Life Actuarial Task Force (LATF) on its “VM-22: Maximum Valuation Interest Rates for Income Annuities” exposure draft. (January 25, 2017)
The Individual and Small Group Markets Committee released a public policy paper that outlines what’s needed for a sustainable health insurance individual market, assesses how well the Affordable Care Act has achieved those conditions, and explores how ideas for addressing challenges would affect the market. Read An Evaluation of the Individual Health Insurance Market and Implications of Potential Changes and accompanying news release. (January 18, 2017)
The Non-Guaranteed Elements Work Group submitted comments to the New York state Department of Financial Services on Proposed 11 NYCRR 48 (Insurance Regulation 210) on life insurance and annuity non-guaranteed elements. (January 17, 2017)
The Academy has been the technical architect behind principle-based reserving (PBR), helping to shape PBR into the valuation standard for life insurance issued after Jan. 1, 2017, in the 46 states that have passed standard valuation PBR-enabling legislation. PBR uses risk management techniques to capture an individual insurer’s unique risks underlying its life insurance business more accurately than the pre-existing requirements based on prescribed, static methods and assumptions. The Academy has assembled materials to assist actuaries and regulators as the United States moves into the implementation phase of PBR for life insurance. Read more here. (January 13, 2017)
The LTC Reform Subcommittee submitted a comment letter to the Maryland Insurance Administration Public Hearing on Long-Term Care Insurance. (January 6, 2017)