Karen Bender, a volunteer on the Academy’s Committee on Federal Health Issues, discussed the purpose of health insurance capital and surplus. Bender said that surplus and capital are used to ensure health insurer solvency.
An Academy letter to the U.S. Senate Committee on Health, Education, Labor and Pensions regarding actuarial issues with the Community Living Assistance Services and Supports (CLASS) Act was cited in op-ed by Rep. Charles W. Boustany Jr. The actuaries wrote that there is a “significant potential for increased adverse selection, necessitating further changes, which may make the program unsustainable.”
The Academy's Social Security Game was mentioned and Academy Senior Pension Fellow Frank Todisco discussed a proposal to fix Social Security by eliminating benefits for non-working spouses, who currently receive half the amount their mates receive.
The Academy's Medical Loss Ratio Regulation Work Group's May 14 letter to the U.S. Department of Health and Human Services regarding new medical loss ratio requirements was cited.
Academy volunteer Donna Novak discussed health insurance capital and surplus. She said that there is a misconception that regulatory minimums for surplus are meant to be operational targets.
The Academy's position statement advocating that policymakers address Social Security's actuarial imbalance by increasing the retirement age was mentioned and linked.
A preliminary report from the Academy to insurance regulators regarding deferred tax assets was discussed during a recent National Association of Insurance Commissioners' conference call.
A preview of Academy Public Interest Committee Chairperson Tom Terry's op-ed in support of addressing Social Security's actuarial imbalance by increasing the retirement age. A reader poll on the issue is also included.
Noel Abkemeier, a member of the Academy's Life Products Committee, was quoted from his testimony on behalf of the Academy to the U.S. departments of Labor and Treasury regarding lifetime income options in retirement plans. Abkemeier said that safe harbors should be expanded to facilitate plan sponsors in providing a board range of options.
Academy Health Practice Council member David Shea discussed how several health care reform provisions that are scheduled to become effective on Sept. 23 would affect the health insurance market.
