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Recent Academy Activity, April 1–5, 2013

 

New Public Policy Activities

  • Academy President Cecil D. Bykerk addressed the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup today to present combined comments from the Academy’s Casualty, Health, Life, and Professionalism Councils on the Subgroup’s request for comment concerning its charge to develop a uniform definition of a “qualified actuary” and addressing “inappropriate” or “unprofessional” actuarial work.
  • The P/C Risk-Based Capital Committee submitted a report on March 29 offering an assessment of the reinsurance credit risk charge in the calculation of NAIC Property/Casualty (P/C) risk-based capital.
  • Life Practice Council presentations at NAIC spring meeting: Subgroups of the Life Practice Council gave presentations to the NAIC’s Life Actuarial Task Force on the development of an aggregate margin and mortality studies, submitted reports on nonforfeiture modernization and synthetic guaranteed investment contracts, and proposed amendments to VM-20 regarding policy loans, deterministic reserve, and pre-tax investment maintenance reserve.
  • The Health Practice Council presented today at a meeting of the NAIC’s Health Actuarial Task Force on the Academy’s recent health-related activities, including those related to Medicaid, health care costs, and minimum value/actuarial value.
  • More Academy activity at the NAIC meeting will be developing throughout the week. Check next week’s This Week for details.

Member Alerts

  • Health Insurance Issues: The U.S. Department of Health and Human Services issued a final rule on April 2 that implements the increase in Federal Medical Assistance Percentage rates for Medicaid under the Affordable Care Act. Log in to read the full alert.

Newly Released

  • Spring Enrolled Actuaries Report: Read about recommendations for strengthening the PBGC and multiemployer plans; a Pension Committee letter to the IRS on notice requirements for benefit limitations, a discussion about raising the normal retirement age and more!

Opportunities to Learn

  • Join us on April 11 to learn more about the recently released minimum value (MV) calculator—an important component of the Affordable Care Act (ACA) implementation. The Academy will hold this free webinar with representatives from the Center for Consumer Information and Insurance Oversight, who will provide a brief demonstration of the calculator and answer member-submitted questions about the MV calculator. Attendees are encouraged to submit questions by April 9.
  • Save the date, April 23, for the next Post-NAIC Update/PBA Webinar. Presenters will give updates on the activities of the NAIC’s Life Actuarial Task Force, PBR Implementation (EX) Task Force, Joint Qualified Actuary (A/B/C) Subgroup, and the Emerging Actuarial Issues (E) Working Group.
  • It’s not too early to register for the 2013 Life and Health Qualifications Seminar, Nov. 11-14, 2013. Seats are limited and fill up quickly so don’t delay! This seminar is the primary source of instruction for actuaries seeking qualification to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement but who may not have met the specific knowledge requirements set forth in the U.S. Qualification Standards.

Note: Some links in this email go to external websites and may require registration. The Academy is not responsible for the content of these websites. Links may expire.