Register now for the 2015 Life and Health Qualifications Seminar, to be held Nov. 9-12 in Arlington, Va. (metropolitan Washington, D.C.). See why so many of your peers find this seminar the most succinct and effective way to acquire the required basic education and continuing education to assist in being qualified to sign NAIC annual statement life and health actuarial opinions.

This seminar is the primary source of instruction for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement but may not have met the basic education requirements set forth in Section 3.1.1 of the U.S. Qualification Standards (USQS).

Register early—Seats are limited and will fill up quickly.

Recently Released

• In the April issue of HealthCheck, read about what Health Practice Council Long-Term Care work groups are working on in a report from the NAIC’s Spring 2015 National Meeting. Also in this issue, read about the Risk Sharing Work Group’s letter to the Centers for Medicare & Medicaid Services on the 2014 medical loss ratio (MLR) annual reporting form.
• The April 2015 edition of the ASB Boxscore is now available. This issue includes information on the newly adopted actuarial standard of practice (ASOP) No. 49 Medicaid Managed Care Capitation Rate Development and Certification; the enhanced ASB website; and a new task force charged with reviewing input concerning public pensions and ASOPs.

Professionalism Activities

• The Applicability Guidelines for Actuarial Standards of Practice were updated to include the new ASOP No. 49, Medicaid Managed Care Capitation Rate Development and Certification. The ASOP was developed to establish guidance for actuaries preparing, reviewing, or giving advice on capitation rates for Medicaid programs, including those certified in accordance with 42 CFR 438.6(c), and takes effect for opinions and certifications issued on or after Aug. 1, 2015.

Public Policy Activities

• The Casualty Practice Council submitted a letter to the NAIC’s Casualty Actuarial and Statistical Task Force, in response to the Task Force’s request, on the CPC’s process for approving Academy members’ qualifications in connection with signing NAIC Statements of Actuarial Opinions (SAOs).
• The Pension Practice Council and Multiemployer Subcommittee sent a comment letter to the IRS/Department of the Treasury regarding the implementation of benefit suspensions under the Multiemployer Pension Reform Act of 2014 (MPRA).
• The Pension Practice Council and Multiemployer Subcommittee sent a comment letter to the Pension Benefit Guaranty Corporation regarding the implementation of partitions and facilitated mergers, as well as benefit suspensions, under the MPRA.

Upcoming Events

• Enrolled Actuaries (EA) Meeting: The American Academy of Actuaries and the Conference of Consulting Actuaries jointly host the 40th annual Enrolled Actuaries Meeting, April 12-15 in Washington. The meeting offers a variety of panels and workshops, covering a wide range of topics and issues relevant to EAs and other pension professionals, as well as an exhibit of products and services. The meeting kicks off Sunday with the “Professionalism Standards/Ethical Dilemmas” seminar from 1 to 5 p.m. EDT, at which attendees will engage with panelists on thorny questions about professionalism in the pension space.
• Post-NAIC webinar: The Life Practice Council will hold a post-NAIC National Meeting update webinar on April 17 from noon to 1:30 p.m. EDT. Moderator Dave Neve, chairperson of the Academy Life Reserves Work Group, will lead a discussion of topics covered at the spring NAIC meeting. Speakers will include Mike Boerner, chair of the NAIC’s Life Actuarial (A) Task Force, and Mark Birdsall, chair of the NAIC’s Life Risk-Based Capital (E) Working Group; and Jerry Holman, co-chairperson of the Academy’s C1 Work Group.
• Save the date: Join the Academy’s Health Practice Council in conjunction with the International Actuarial Association at 9:30 a.m. EDT on May 13 for “Exploring Global Health Care Cost Drivers: South Africa and the United States.” This second webinar in a series will provide a unique opportunity to learn about the successes and challenges that both South Africa and the United States have experienced as they’ve worked to identify and address particular cost drivers. No fee is charged for Academy members; more information and a registration link will be provided soon.

Recent Events

• The issues of an aging population: This year, as Social Security turns 80, both Medicare and the Older Americans Act turn 50, and the 6th White House Conference on Aging is convened, the issues of an aging population are in the spotlight. The Academy this week sponsored a Capitol Forum webinar on the topic. Leslie Fried, senior director for the National Council on Aging’s (NCOA) Center for Benefits Access, offered an overview of the NCOA, discussed the importance of focusing on policy issues that have implications for an aging population, and highlighted some of the work the NCOA is doing on issues ranging from long-term care to economic security to benefits access.
• Rate review and disclosures under the ACA: Panelists from the Center for Consumer Information and Insurance Oversight (CCIIO) answered members’ pressing questions about rate review and disclosure under the Affordable Care Act, specifically the Unified Rate Review Template and Actuarial Memorandum, at a webinar earlier today.

Litigation Conclusion

• On April 7, a pro forma approval of former SOA President Mark Freedman’s voluntary motion to dismiss the remaining claim alleging defamation against Academy Immediate Past President Tom Terry was made in the Circuit Court of Cook County, Ill. On Feb. 24, 2015, Judge Peter Flynn dismissed all other claims against the Academy. This week’s final approval brings to a close all claims against any party related to the Academy. The dismissal of the specific counts against the Academy and against Tom Terry reaffirms the validity and vitality of the profession’s self-disciplinary process.

Academy in the News

• Senior Health Fellow Cori Uccello was quoted in a Politico Pro story reporting that some states will allow health insurers to submit alternate 2016 premium proposals to be used if Affordable Care Act (ACA) premium subsidies are eliminated as a result of the Supreme Court case King v. Burwell. The story notes that the Academy’s Feb. 24 letter to Health and Human Services (HHS) Secretary Sylvia Mathews Burwell advised HHS to consider such a policy. “It’s just a matter of being prepared,” said Uccello. (The Politico Pro story is available only to subscribers.)
• An opinion piece in Ireland’s Belfast Telegraph highlights the March/April Contingencies feature story, “Smoke and Mirrors,” about marijuana use and life underwriting. The op-ed praises the story as “an accurate and insightful article,” and calls on lawmakers and industries to use a science-based approach when developing and reviewing policies concerning marijuana use.
• A KPMG Institutes newsletter reported on the Academy/SOA Joint Project Oversight Group’s presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT tables, 2017 CSO tables, and PBR margins.
• The Pension Practice Council and Multiemployer Subcommittee letter to the PBGC regarding the implementation of partitions and mergers, as well as benefit suspensions, under the Multiemployer Pension Reform Act of 2014 was highlighted by BenefitsLink Retirement Plans Newsletter.

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