Learn what’s new and find out what has been updated in the Academy’s practice note, “Large Group Medical Insurance Reserves, Liabilities, and Actuarial Assets,” which provides information for valuation actuaries regarding their responsibilities relating to the determination of reserve levels and other actuarial assets and liabilities for large group medical insurance coverage. The Sept. 27 webinar topics will include the definition of large group medical business; funding arrangements that are currently being used; pertinent regulatory and legislative issues; and asset adequacy analysis. (September 09, 2013)
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. (September 06, 2013)
The Medical Loss Ratio (MLR) Work Group submitted additional comments to CMS on the proposed rule implementing MLR requirements for Medicare Advantage (MA) and Medicare prescription drug (Part D) programs. (September 06, 2013)
The Academy hosted a professionalism breakfast for regulators on August 24 to answer regulators’ questions on a range of topics including actuarial standards of practice (ASOPs), the counseling and discipline process, and how to respond to inadequate actuarial work. Academy professionalism representatives also presented to NAIC’s three primary task forces on the U.S. Qualification Standards, recently exposed ASOPs (including those on principle-based reserving and health care filings), and counseling and discipline activities. For more details, see the August 2013 Actuarial Update. (August 24, 2013)
Read about the Academy’s lifetime income initiative, work on Social Security, recently released issue brief on the PBGC, comments on ASOP No. 4, and more. (September 06, 2013)
Health actuaries: Do you calculate minimum or actuarial values under the Affordable Care Act? Register now to learn about the new minimum value and actuarial value requirements under the ACA and some of the technical issues associated with these calculations. (September 06, 2013)
Read about the brave new world of driverless cars, how higher disability claims may be one of the unintended consequences of health care reform, the ways in which well-intentioned efforts to shore up defined benefit pensions may be hastening their demise, and much more. (September 03, 2013)
Health and Pension Practice Council sent a letter to the Actuarial Standards Board on coordinating Actuarial Standards of Practice (ASOP) affecting pension and retiree group benefits. (August 30, 2013)
Joint Committee on Retiree Health submits comments to the Actuarial Standards Board on revisions to a second exposure draft of ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Prefunding Contributions. (August 30, 2013)
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. (August 30, 2013)
Read about Academy efforts at the NAIC meeting, the continuing dialogue with regulators on actuarial professionalism issues, a new issue brief on the PBGC deficit, and regulator director elections open through Sept. 16. (August 30, 2013)
The Life Illustration Work Group updated the practice note for Actuarial Standard of Practice No. 24, which outlines compliance with the NAIC Life Insurance Illustrations Model Regulation. (August 28, 2013)
Casualty VP Mike Angelina presented the NAIC’s Casualty Actuarial & Statistical Task Force at the NAIC’s National Summer Meeting with a summary of the Casualty Practice Council’s application process for non-CAS members to sign NAIC P/C Opinions. (August 24, 2013)
The Life Practice Council sent its Legislation-In-Brief to the NAIC Principle-Based Reserving Implementation Task Force that outlines details of and support for the NAIC model Standard Valuation Law and PBR methodology. The LPC plans to distribute the brief to state insurance regulators and legislators. (August 20, 2013)
The C1 Work Group made a presentation to the NAIC Investment Risk-Based Capital Working Group on the benefits and uses of a representative portfolio for C1 factors in the Risk-Based Capital formula. (August 24, 2013)
