The Long-Term Care (LTC) Combination Product Valuation Work Group exposed the LTC Combination Product Valuation Practice Note to provide information to actuaries on current and emerging practices in which their peers are engaged with respect to the considerations in the statutory, Generally Accepted Accounting Principles (GAAP) and tax valuation of long-term care combination products. (July 19, 2019)

The Medicaid Subcommittee sent comments on the May 15, 2019 CMCS Informational Bulletin (CIB) titled Medical Loss Ratio (MLR) Requirements Related to Third-Party Vendors seeking additional clarification. (July 17, 2019)

The American Academy of Actuaries is the national association for actuaries practicing in the U.S. Our mission is to serve the U.S. public on behalf of the profession. Of course, in an increasingly global world, international developments can affect our work at home. That’s why the Academy has long been actively engaged on international issues when they directly affect actuarial practice within the U.S. Read more… (July 17, 2019)

The Life Practice Council submitted a comment letter to the Actuarial Standards Board on proposed revisions to ASOP No. 2, Nonguaranteed Elements for Life Insurance and Annuity Products.  (July 15, 2019)

The Academy hosted a briefing, featuring expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This briefing is the first in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” briefing series, which is intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans. (July 15, 2019)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (July 12, 2019)

A new issue brief developed by the Academy’s Retirement System Assessment and Policy Committee explores the concept of a national retirement policy, including the potential benefits of such a policy and the various topics that it might address. Read the news release. (July 11, 2019)

With close to 20,000 members, the Academy appreciates the active participation of more than 1,000 volunteers from every practice area who lend their skill, knowledge, and experience to the Academy’s work on public policy issues and professionalism. All members are being invited to complete the Academy’s Annual Volunteer Survey via individual email. The survey is also available in the members-only section of the Academy website through Friday, July 26. (July 11, 2019)

The July HealthCheck covers the Individual and Small Group Markets Committee’s recent issue brief on 2020 health insurance premium drivers; several Health Practice Council committees’ joint presentation at the Society of Actuaries Health Meeting in Phoenix; a new Essential Elements paper on high-performance networks; and legislative and regulatory activity including oral arguments on the Texas v. Azar case regarding the Affordable Care Act. (July 10, 2019)

The Life Practice Council submitted a comment letter to the Actuarial Standards Board, outlining its recommendations on the second exposure draft of the proposed actuarial standard of practice, Setting Assumptions.  (July 08, 2019)

The CECL Work Group released a white paper on estimating the uncollectible reinsurance reserve for P&C companies. (July 02, 2019)

Actuaries practicing in the United States must complete 30 hours of relevant continuing education (CE) each year to satisfy the requirements of the U.S. Qualification Standards (USQS). As we hit the middle of the year, we encourage you to take stock of the CE you’ve earned so far and make sure that it has been properly recorded. (Actuarial Update, June 2019) (June 28, 2019)

The Academy's Casualty Practice Council has submitted comments to the Actuarial Standards Board, regarding the proposed ASOP on Setting Assumptions. (July 01, 2019)

The June Actuarial Update outlines the practice-area breakout sessions planned for the Academy’s Annual Meeting and Public Policy Forum in November. Also in this issue, the Academy announced the Nominating Committee’s 2019 slate of officer and regular director nominees; an issue brief on 2020 health insurance premium drivers; and the “Professionalism Counts” column covers the proper documentation of continuing education compliance. (June 28, 2019)