Health Webinar to Discuss COVID-19 With Federal, State Regulators
Join the Academy for a timely webinar on “ACA Rate Filing and Risk Adjustment in the Time of COVID-19: A Discussion with Federal and State Regulators.” The regulators will discuss the potential effects of the coronavirus pandemic and the prospective impact of COVID-19 on 2021 rate filings, 2020 reporting requirements, and risk adjustment issues for individual and small group plans. There will be ample time for questions and answers. Speakers will be David Shea, past Academy health vice president and currently health actuary with the Virginia Bureau of Insurance, and representatives from the Center for Consumer Information and Insurance Oversight (CCIIO). Academy Senior Health Fellow Cori Uccello will moderate. The webinar will be held Monday, May 18, from noon to 1:30 p.m. EDT. Register today.
Actuarial Standards Board (ASB) member Cande Olsen delivered a remote presentation, “The ASOP Advantage: The Latest on ASB Standards-Setting,” to the Actuaries’ Club of Hartford and Springfield on Friday that was attended by more than 150 people. The presentation reviewed the ASB standards-setting process and provided an update on life, health, and cross-practice standards. Olsen concluded by urging attendees to engage in the ASB’s transparent process for proposing and commenting on standards and changes to standards.
Academy General Counsel and Director of Professionalism Brian Jackson on Wednesday remotely presented an overview of the Actuarial Board for Counseling and Discipline (ABCD) and gave an update of the ABCD’s recent activities to actuaries of the Markel Corp. Jackson’s well-received presentation was attended by about 65 people.
The Centers for Medicare & Medicaid Services (CMS) has issued the final Notice of Benefit and Payment Parameters (NBPP) for 2021. In addition to finalizing several provisions as put forward by the Proposed NBPP released in February, CMS also provided insurers a week extension for Qualified Health Plan (QHP) certifications and rate review timeline to allow for additional time to assess the impacts of COVID-19 on healthcare utilization and expenditures. Read the Academy alert.
Public Policy Activity
The Life Illustrations Work Groupsent a letter Friday to the NAIC’s IUL Illustration (A) Subgroup regarding an exposed proposal from the American Council of Life Insurers on how to treat IUL illustrations under Actuarial Guideline XLIX (AG 49).