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. (January 19, 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 released its 2016 Legislative/Regulatory Review that provides members with significant state, federal, and international developments of interest to the U.S. actuarial profession, including actions on principle-based reserving, the Affordable Care Act, and multiemployer pension plans. (January 13, 2017)
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. (January 13, 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 January HealthCheck recaps Academy health presentations at the NAIC Fall 2016 National Meeting; long-term care (LTC) issues including a comment letter sent to the Maryland Insurance Administration on LTC insurance; and a call for volunteers on pooled health plan data. (January 11, 2017)
The Academy sent its new Public Policy Toolkit to all members of the new, 115th Congress providing essential background and analysis of health care, financial services, retirement security, and other policy issues. Read the news release. (January 11, 2017)
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. (January 06, 2017)
The LTC Reform Subcommittee submitted a comment letter to the Maryland Insurance Administration Public Hearing on Long-Term Care Insurance. (January 06, 2017)
In the latest issue of Contingencies, the cover theme “The Future Is Here” includes feature stories looking at telehealth, retail medical clinics, long-term care financing, and transparency in a changing U.S. health care system. Other stories explore the Actuarial Board for Counseling and Discipline as a critical part of the infrastructure of U.S. actuarial professionalism; a look at catastrophic medical claims and how to mitigate against them; and an incisive look at two books that cast the actuarial profession in a less-than-rosy light. (January 03, 2017)
“A News Year’s Worth of Professionalism Resources” highlights the Academy’s publications and professionalism webinars, continuing education opportunities, the Code of Professional Conduct, the Actuarial Standards Board’s actuarial standards of practice, the U.S. Qualification Standards, and other resources to help actuaries remain qualified to issue statements of actuarial opinion. (December 30, 2016)
The Academy released its 2016 P/C Loss Reserve Law Manual, which is updated from 2015 and designed to help appointed actuaries comply with NAIC annual statement requirements. The manual includes SAO requirements and state laws and regulations establishing requirements; annual statement instructions for the SAOs for P/C, title loss, and loss expense reserves; and other pertinent annual statement instructions. The manual is available online or as a CD-ROM, and members can order online here. (December 30, 2016)
The December Actuarial Update covers the Health Practice Council’s letters to Congress cautioning against repealing the Affordable Care Act without having a viable replacement plan in place, which received widespread media attention. Also included are the Academy’s professionalism and public policy presentations at the NAIC Fall 2016 National Meeting; the Dec. 21 professionalism webinar on actuarial communications, which drew 2,000 attendees; the P/C loss reserve seminar, practice note, and law manual; and the Actuarial Board for Counseling and Discipline’s redesigned website. (December 30, 2016)
The Pension Cost Work Group released an issue brief, Alternatives for Pension Cost Recognition—Implementation Approaches Using Bond Models, that explores potential approaches for determining pension costs. (December 30, 2016)
