Public Policy News

This two-day interactive seminar will allow attendees to work hands-on with the new reserving requirements in VM-20 and apply them to real-life examples. The seminar also will provide plenty of opportunity to discuss specific components of VM-20 with expert faculty. This seminar is jointly sponsored by the Academy and the Society of Actuaries. (July 21, 2012)
Steve Schoonveld, a member of the Federal Long-Term Care Task Force, presented at the National Conference of Insurance Legislators (NCOIL) Summer Meeting in Burlington, VT on options to reform the long-term care system in the United States. (July 18, 2012)
The Life Practice Council and Life Financial Soundness/Risk Management Committee submitted comment letters with suggested changes to the valuation manual and expressed the need for an updating and review process for the valuation manual going forward. (July 16, 2012)
The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on the exposure draft of ASOP 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Plan Costs or Contributions. (July 14, 2012)
Nancy Bennett, Senior Life Fellow and member of the Financial Regulatory Reform Task Force, presented to the National Conference of Insurance Legislators on modernizing insurance regulation as expressed by the Task Force to the Federal Insurance Office.
  (July 12, 2012)
The Academy’s Health Practice Council hosted a webinar on July 11 to provide actuaries from all practice areas with an analysis of the Supreme Court’s June 28 decision on the Affordable Care Act (ACA). Speakers outlined the decision, discussed the next steps in the federal and state implementation process, and highlighted future Academy activities aimed at the challenge of addressing long-term health costs. Download the presentation slides and audio recording. (July 11, 2012)
The P/C Risk-Based Capital Committee has issued a letter to the Solvency Modernization Initiative RBC Subgroup concerning CAS Working Party research on potential improvements to the NAIC's P/C RBC framework. (July 10, 2012)
The Group Long-Term Disability Work Group submitted a report outline to the NAIC’s Health Actuarial Task Force (HATF) regarding a valuation proposal for a new group long-term disability table.
(July 6, 2012)
The Stop-Loss Work Group submitted comments to the Employee Benefits Security Administration on small employers' use of stop-loss insurance and how this affects the market for fully insured small health coverage under the Affordable Care Act (ACA). 
(July 2, 2012)
The Flood Insurance Subcommittee has issued a comment letter to Congressional leaders concerning H.R. 4348, a bill to reform the National Flood Insurance Program and reauthorize it for five years.
(June 28, 2012)
The Academy’s Health Practice Council Communications Task Force updated its recent Campaign 2012 voters’ guide, Making Health Care Reform Work: Why Broad Participation is Necessary. The guide is intended to assist voters to understand why broad participation is necessary in the health insurance system to avoid higher premiums. (June 28, 2012)
The Contingent Annuity Work Group gave a presentation at an interim meeting of the NAIC Contingent Deferred Annuity (A) Working Group regarding the solvency and risk management issues associated with contingent annuities. (June 27, 2012)
The Academy's Life Invested Asset Work Group submitted a comment letter to the NAIC Valuation of Securities Task Force related to modification of the methodology for assigning classifications to investments and changing how classification decisions are implemented. (June 20, 2012)
The Academy's Life Financial Soundness/Risk Management Committee submitted an amendment proposal form to the NAIC Life Actuarial Task Force outlining a simplified approach for determining a prudent estimate mortality assumption for VM-20. (June 18, 2012)
The Long-Term Care Practice Note work group has extended to July 8 the exposure period for the rate stability practice note, Long-Term Care Compliance with the National Association of Insurance Commissioners Long-Term Care Insurance Model Regulation Relating to Rate Stability. (June 12, 2012)
The Academy’s Medicaid Work Group submitted comments to CMS on a proposed rule regarding payments for Medicaid primary care services. The letter addresses issues relating to actuarial soundness as they pertain to changes in the Medicaid program. (June 12, 2012)
The Academy’s Actuarial Value Subgroup submitted comments to the IRS on Notice 2012-31, Minimum Value of an Employer-Sponsored Health Plan. The letter addresses how to account for non-core benefits and non-standard plan features as well as other considerations related to the treatment of health savings account (HSA) contributions. (June 11, 2012)
The Academy's Health Practice Council and the SOA jointly released a research brief that summarizes the key findings and policy implications of a study, conducted by Milliman and sponsored by the SOA, of the risk mitigation programs under the Affordable Care Act (ACA)—risk adjustment, reinsurance, and risk corridors. (June 4, 2012)
The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on the exposure draft for ASOP 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions, requesting clarification on the implications for retiree group benefits. (May 31, 2012)
The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on the exposure draft for ASOP 27, Selection of Economic Assumptions for Measuring Pension Obligations, regarding the implications for retiree group benefits. (May 31, 2012)