The American Academy of Actuaries created a Health Equity Work Group (HEWG) with a goal of contributing to efforts to reduce health disparities and improve health equity among racial and ethnic minority populations and underserved or under-resourced communities.
The HEWG is issuing a request for information (RFI) to solicit input to its work assessing whether and how health actuarial practices and methods affect health disparities. Health actuaries often partner with other professionals in many different aspects of the health care and health insurance systems, including those related to administration, financing, and care management. The HEWG has identified four areas in which health actuaries are involved that may affect health disparities, either by contributing to disparities or by mitigating disparities: health insurance benefit design, provider contracting and network development, premium pricing, and managing population risk. The work group is also exploring data collection issues. More information about the HEWG’s work and its publications thus far is available here.
Learn more about the RFI here. Comments should be submitted by Jan. 14, 2022, via email to healthequityRFI@actuary.org. Please include the phrase “HEWG Request for Information” in the subject line and do not password-protect any attachments. Comments may be sent via conventional mail to: Health Equity Work Group, American Academy of Actuaries, 1850 M Street NW Suite 300, Washington, DC 20036. (October 29, 2021)
David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on premium risk and Investment Income Adjustment to the NAIC's P/C RBC (E) Work Group. (October 25, 2021)
The Fall Casualty Quarterly covers the Casualty Practice Council’s recent work on cyber risk issues, including an August webinar and a Cyber Risk Toolkit. Also in the issue, a preview of Annual Meeting and Public Policy Forum P/C breakout sessions; Senior Casualty Fellow Rich Gibson is featured in a recent episode of the “Actuary Voices” podcast; the Academy presented at the Virtual Casualty Loss Reserve Seminar on the scalars research paper released earlier this year; and recent state and federal legislative and regulatory activity. (October 26, 2021)
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. (October 22, 2021)
The Retirement System Assessment and Policy Committee released an issue brief, Retirement Policy: Potential for Changing Roles of Employers in Retirement Programs, which considers aspects of “decoupling”—shifting retirement plan responsibilities and related liability to a third-party entity and away from employers. (October 22, 2021)
The Committee on Property and Liability Financial Reporting (COPLFR) sent an updated version of its comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed changes to P/C annual statements. Many of the Committee’s previous comments stand unchanged but were edited in response to the modified exposure draft. (October 21, 2021)
The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the third exposure draft of Actuarial Standard of Practice No. 4, Measuring Pension Obligations and Determining Pension Costs or Contributions. (October 18, 2021)
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. (October 15, 2021)
The Retirement System Assessment and Policy Committee published an issue brief examining issues pertaining to newer and novel plan designs as they relate to risk sharing between plan sponsors and participants. (October 15, 2021)
The Health Equity Work Group (HEWG) released a discussion brief, Health Equity from an Actuarial Perspective: Managing Population Health. This discussion brief is the final in the series developed by the HEWG to provide more context on issues raised in the initial discussion brief, Health Equity from an Actuarial Perspective: Questions to Explore. This series was undertaken by the HEWG to lay the groundwork for their future exploration and research into health disparities. (October 15, 2021)
The Summer/Fall issue of The Retirement Report looks at multiemployer plan issues that arose as part of the American Rescue Plan Act and the PPC’s August webinar on those issues, with a Q&A featuring several members of the Multiemployer Plans Committee. Also in the issue, a preview of the Annual Meeting and Public Policy Forum’s pension sessions, the new issue brief, The 80% Pension Funding Myth, Sherry Chan is set to become the Academy’s next pension vice president, and recent state and federal legislative and regulatory activity. (October 14, 2021)
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. (October 08, 2021)
The LTC Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance (EX) Task Force regarding the exposure drafts of the operational and actuarial sections of the Long-Term Care Insurance Multi-State Rate Review Framework released September 10 and September 15, 2021. (October 08, 2021)
The Life Financial Reporting Committee’s Market Risk Benefits Work Group published an exposure draft of a white paper, Considerations in Market Risk Benefits. The paper is exposed for public comment for 60 days, through Dec. 6. Comments may be submitted to lifeanalyst@actuary.org. (October 06, 2021)
The Pension Practice Council (PPC) published an issue brief, The 80% Pension Funding Myth, which addresses a persistent misconception that pension plan health or soundness can be determined solely by referencing a supposed 80% funded ratio “standard.” Read the news release. (October 06, 2021)
