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Happy Labor Day
The Academy wishes its members a happy and safe Labor Day weekend. Academy offices will be closed on Monday, Sept. 7, in observance of the holiday.
Contingencies, Actuarial Update Now Available
The September/October issue of Contingencies includes the cover feature, “Our Nation’s Neglected Infrastructure”; a story reflecting on the paths four actuaries followed to top executive position in global insurance and financial services companies; a look at how new vehicle technology is changing the casualty market; a book review of the landmark Social Security Works!; communicating longevity risk; and the Academy resources available to make you aware of public policy issues the profession can address and that can affect your practice. The August issue of Actuarial Update leads with the Academy’s policy and professionalism activities at the NAIC’s summer meeting in Chicago last month, and more information about news that members should know about a wide range of issues across all practice areas.
Alerts
The Centers for Medicare & Medicaid Services (CMS) has issued a notice requesting additional information regarding issuers’ 2014 risk corridor and medical loss ratio data submissions. On review of submitted data, CMS identified a number of discrepancies and common errors, and issuers are being asked to provide additional information in order to validate the data. Read the full alert here or in the member section of the Academy website under “Health Alerts.” The Center for Consumer Information and Insurance Oversight (CCIIO) has published a list of proposed essential health benefit (EHB) benchmark plans for 2017 and beyond. Under the Affordable Care Act, EHBs are based on state-specific benchmark plans. For each state, CCIIO provides a summary of the 2014-2016 benchmark plan benefits, limits, and prescription drug coverage; state-required benefits; and the 2017 benchmark plan information. Read the full alert here or in the member section of the Academy website under “Health Alerts.” The Internal Revenue Service (IRS) has proposed a modification to existing proposed regulations—which were published on May 3, 2013—that would update the definition of minimum value for eligible employer-sponsored health plans under the ACA. Read the full alert here or in the member section of the Academy website under “Health Alerts.”
Upcoming Events
Registration Now Open for P/C Opinion Seminar: Registration opened Thursday for the Academy’s 2015 Seminar on P/C Effective Loss Reserve Opinions, being held Dec. 1-2 in Philadelphia. Actuaries who prepare or sign NAIC annual statement actuarial opinions on P/C loss reserves, or those who assist in preparing them, should plan to attend. Click here for seminar information and click here to register. Academy Annual Meeting and 50th Anniversary Celebration: More information has been released about the sessions at the Nov. 12-13 Annual Meeting and Public Policy Forum in Washington, including a plenary/panel discussion on how journalists cover “actuarial beats” like Medicare and Social Security, and breakout sessions on pension, health, life, casualty, and professionalism content relevant to all actuarial areas of practice. The agenda will enable attendees to earn up to 10 organized activity continuing education (CE) credits (depending on area of practice), 1.5 hours of business CE credits, and 2.4 hours of professionalism CE credits. This will all take place amid a festive and fascinating celebration of the Academy’s 50th anniversary this year. Register now to attend. The 2015 Life and Health Qualifications Seminar will be held Nov. 9-12 in Arlington, Va. (metropolitan Washington), just prior to the Academy’s Annual Meeting in Washington. Since 2000, many attendees have found this highly regarded course the most efficient way to acquire the basic and continuing education required to issue statutory statements of actuarial opinion for NAIC life and health blanks. Click here for registration information.
Public Policy Activities
International Health Care Webinar Draws Global Interest
With attendees from more than 19 countries, the Academy’s Health Practice International Committee and the International Actuarial Association Health Section hosted the third webinar in their series on international health care costs on Wednesday. Similar to prior webinars in the series, this week’s webinar—which focused on Australia and Singapore—included panel discussion on the health care financing systems of those countries and the ways both have worked to identify and address drivers of health care cost growth. Click here to view slides from the webinar and click here for the audio. The next webinar in the series, scheduled for Nov. 4, will feature presentations from Canada and Chile.
Online Election Voting Under Way
Online voting for the Academy’s four open regular director positions kicked off this week and continues through Sept. 21. The Academy’s Nominating Committee presented the following slate of candidates for the positions on the Academy Board of Directors: Elizabeth Brill, Alice Fontaine, Laurel Kastrup, and Allen Schmitz. For more information about the Nominating Committee Guidelines on how candidates are selected and other election details, please visit the Academy’s online Election Center.
Call for Papers
The Academy supports a call for papers from the Institute and Faculty of Actuaries (IFoA), the professional association for actuaries in the United Kingdom. The IFoA is soliciting research proposals related to a series of key policy questions of significant interest to U.S. as well as other countries where actuaries can make a difference. The submissions deadline is Oct. 5.
In the News
The Actuarial Standards Board (ASB) was mentioned in a Workers’ Compensation Institute blog post summarizing discussion of the NAIC’s draft Price Optimization White Paper at the Aug. 14 meeting of the NAIC’s Casualty Actuarial and Statistical Task Force. Senior Health Fellow Cori Uccello was quoted by International Private Medical Health Insurance Magazine in a story on the Academy’s issue brief, Drivers of 2016 Health Insurance Premium Changes. The Academy’s independent analysis was mentioned in a Palm Beach Post (Fla.) opinion piece that calls for greater transparency in how flood insurance premiums are formulated under the National Flood Insurance Program. Taxnotes.com reported on the Academy’s recent comments to the IRS and Treasury Department regarding proposed regulations on suspensions of benefits under the Multiemployer Pension Reform Act of 2014 in a subscriber-only story, “Chamber of Commerce Seeks Clarity in Regs on Suspension of Benefits.”
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