The Casualty, Health, Life, and Professionalism Councils sent comments to the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup in response to its request for comments to a list of nine questions in anticipation of the Subgroup’s meeting at the NAIC Spring National Meeting on April 5, 2013.
(March 28, 2013)The Medical Loss Ratio Work Group submitted comments to HHS on a proposed rule that requires issuers to offer a new type of individual health insurance policy covering contraceptive benefits. The comments focus only on the effect of the proposed rule on the MLR calculation.
(March 28, 2013)The Separate Account Products Work Group (SAWG) commented on the December 20, 2012 document, “Review of Non-Variable, Insulated Products/Product Characteristics with Proposed Recommendations” that was exposed on January 9 by the NAIC Separate Account Risk (E) Working Group. (March 25, 2013)
The Annuity Illustration Work Group submitted comments to the Iowa Insurance Division on its March 18 draft memorandum, Annuity Illustrations; 191 Iowa Administrative Code rules 15.61-.69, based upon the new NAIC Annuity Disclosure Model Regulation.
The newly formed Long-Term Care Terminations Work Group sent a letter to the NAIC announciing the work group's formation and its charge to gather data on terminations in long-term care insurance.
(March 15, 2013)The NAIC Health Actuarial Task Force has exposed for comment the 2012 Group Long-Term Disability Valuation Table, a proposed related Actuarial Guideline, and the proposed modification to the Health Insurance Reserves Model Regulation. Comments are due by May 31. (March 15, 2013)
The Life Reserve Work Group (LRWG) submitted an amendment proposal to the Life Actuarial Task Force (LATF) of the NAIC that clarifies the VM-20 approach to model policy loan cash flows in the deterministic reserve and stochastic reserve calculations. (March 14, 2013)
This March 20 webinar will cover the recently released final and interim final rules related to the implementation of the three risk-sharing mechanisms in the Affordable Care Act—risk adjustment, reinsurance, and risk corridors (otherwise known as the “3Rs”). Representatives from the Department of Health and Human Services will will focus their presentation on the new methodology for reconciling advanced cost-sharing reduction payments. Register for free!
(March 14, 2013)
Read about recent health care reform activities in the latest edition of HealthCheck.
(March 13, 2013)
Join us on March 13 and 14 for this free two-part webinar series to learn more about the recently released final rules related to the Affordable Care Act implementation. The American Academy of Actuaries will hold this webinar with representatives from the Center for Consumer Information and Insurance Oversight, who will be on hand to answer YOUR questions, specifically regarding actuarial value determinations, cost-sharing reductions, essential health benefits, and the final market reform rules.
(March 12, 2013)Cori Uccello, the Academy's senior health fellow, submitted written testimony to the House Ways and Means Subcommittee on Health in response to its recent hearing that examined Medicare's traditional fee-for-service benefit design.
(March 08, 2013)Senior Life Fellow Nancy Bennett presented to state legislators at the National Conference of Insurance Legislators Spring Meeting regarding the implementation and review process for Principle-based Reserves.
(March 08, 2013)
The Committee on Property & Liability Financial Reporting provided a comment letter to the NAIC’s Blanks Working Group on its proposed changes to move all force-placed or lender-placed business from the current line to the write-in line of Schedule P.
(March 07, 2013)
The Enterprise Risk Management Committee exposed its practice note, Insurance Enterprise Risk Management Practices, for public comment. The practice note discusses ERM practices within the insurance industry and concepts such as risk culture, risk organization, and risk governance.
(March 07, 2013)The Rate Review Practice Note Work Group submitted comments to the Center for Consumer Information and Insurance Oversight (CCIIO) recommending several modifications to the unified rate review template and instructions associated with the final rules implementing the rate review and disclosure provisions in the ACA.
(March 07, 2013)The Pension Committee released an issue brief recommending changes that will allow private sector defined benefit plans to raise their normal retirement age above 65 to better align with Social Security. Read the news release.
(March 07, 2013)The International Accounting Standards Task Force sent papers to FASB on issues related to the Insurance Contracts project discussed at a November 2012 meeting with FASB staff.
(March 05, 2013)
Read about the Academy’s pension policy activities in this issue.
(February 21, 2013)
The Contingent Annuity Work Group commented on the NAIC Contingent Deferred Annuity (A) Working Group's February draft recommendation to the Life Insurance and Annuities (A) Committee. (February 20, 2013)
The Academy sent a letter to President Obama and top administration officials urging them to require Academy membership as a qualification for any candidate to the chief actuary position at the Centers for Medicare & Medicaid Services. Read the news release.
(February 19, 2013)
