AM 2023 Breakout Sessions | American Academy of Actuaries

Breakout Sessions

Breakout sessions at Envision Tomorrow will explore the following topics.

Casualty

Medical Marijuana and Workers Compensation: More details coming soon.

Climate Attribution Science: More details coming soon.

Update on National Flood Insurance Program (NFIP): More details coming soon.

Health

Behavioral Health Care in the U.S.

Behavioral health conditions—mental health conditions and substance abuse disorders—affect millions of Americans. However, access to behavioral health care services is often inadequate. In this session, panelists will provide an overview of the prevalence of behavioral health needs, the challenges to meeting those needs, and how the challenges can differ for different needs and populations. Panelists will also describe current and proposed actions to improve access to and availability of behavioral health services.

At the conclusion of this session, attendees will:

Appreciate the breadth of behavioral health needs.
Understand the array of challenges to meeting behavioral health needs.
Identify actions currently being taken to address behavioral health system challenges.
Identify proposals that aim to address behavioral health system challenges.

Addressing Prescription Drug Costs: Current Progress and Future Considerations

In August 2022, the Inflation Reduction Act (IRA) was signed into law by President Biden. Key provisions include the new Medicare Drug Price Negotiation Program, a requirement that prescription drug companies pay a rebate to Medicare if drug prices increase faster than inflation, and changes to the Part D benefit structure. In this session, panelists will provide an overview of the IRA and its prescription drug provisions, as well as proposals under consideration by Congress to control prescription drug prices. The session will also include a discussion on what actuaries need to consider from the changes required by IRA when pricing prescription drugs and health plan benefits.

At the conclusion of this session, attendees will:

Appreciate the impact of rising prescription drug prices in the U.S.
Understand the prescription drug-related provisions of the IRA.
Identify proposals under consideration by Congress to control the rising prescription drug prices.
Discuss considerations for actuaries on the changes required by IRA when pricing prescription drugs and health plan benefits.

Regulating the Affordable Care Act: What’s New for 2024?

Federal regulations are revised annually to reflect changes in the law and other policy changes. In this session, panelists will provide an update on regulatory activities in the Affordable Care Act (ACA) marketplaces. Each year we invite staff from the Centers for Medicare & Medicaid Services’ (CMS) Center for Consumer Information and Insurance Oversight (CCIIO) to provide updates on the important regulations governing the ACA markets. And we’re happy to have them back this year to discuss what’s new for 2024 and to answer audience questions.

At the conclusion of this session, attendees will:

Identify changes to ACA rules and regulations for the 2024 plan year.
Understand how changes in ACA rules can affect actuarial practice.

Life

Structured Assets: More details coming soon.

Actuarial Guideline LIII (AG 53): Perspectives So Far

This session will cover the requirements of Actuarial Guideline LIII (AG 53), challenges companies have faced in implementing the guidance, regulatory perspectives from those that have reviewed AG 53 reports, overall industry practices to date, and upcoming changes planned to clarify AG 53 guidance.

At the conclusion of this session, attendees will:

Know about the requirements of AG 53, challenges in implementing the guidance, regulatory perspectives, industry practices to date, and upcoming changes.

Pension

Social Security and Financially Disadvantaged Groups

Learn how Social Security's Socially Adequate and Individual Equity provisions help people in financially disadvantaged groups, how certain proposals might impact them, and what the chances of these proposals are of being enacted. Poverty rates and the lifespans of various groups will be discussed.

At the conclusion of the session, attendees will:

Gain a high-level understanding of these provisions.
Understand the impact of certain proposals and the chances of their enactment.

Multiemployer Plan System: Current State and Trends: More details coming soon.

Pension and Life

Group Annuity Contracts for Pension Risk Transfer

This joint pension and life practice area session will feature a panel discussion that will cover the regulatory and structural evolution of insurance companies that provide pension risk transfer group annuity contracts.

At the conclusion of this session, attendees will:

Gain a high-level understanding of regulations impacting and structure of life insurance companies that write group annuity contracts for pension risk transfers.
Learn about the state guarantees available to participants.
Gain insight into the fiduciary considerations pension plan sponsors and independent fiduciaries consider when purchasing a group annuity contract for pension plan participants.