National Media Cite Academy’s Expertise on Health Issues
In a story discussing new uncertainties in Affordable Care Act (ACA) insurance markets, the Wall Street Journal quoted Academy Senior Health Fellow Cori Uccello on the Centers for Medicare & Medicaid Services’ (CMS) recent decision to suspend risk adjustment collections and payments under the ACA. “We’re now in the midst of the 2019 rate-filing process and it’s not clear how the risk adjustment program will be operating,” Uccello said. Kaiser Health News also highlighted the Journal story. In June, the Academy published an issue brief on drivers of 2019 health insurance premiums.
Next Week—Early Registration Deadline for LHQ Seminar
Early registration for the Academy’s 2018 Life and Health Qualifications Seminar ends next Friday, July 20. To be held Nov. 4–8 in Arlington, Va. (metropolitan Washington, D.C.), the annual seminar delivers education and instruction to allow you to obtain basic qualifications or relevant continuing education (CE) credit necessary to issue actuarial opinions for either the NAIC Life and Accident & Health (A&H) Annual Statement or the NAIC Health Annual Statement.
Attendees can earn up to 27 hours of CE credit, including up to 2.7 professionalism hours. Only 100 seats are available for this highly regarded seminar—register today to obtain the lowest rates and secure your space.
New FAQ on Qualifications for Blended Opinions
The Committee on Qualifications has added a question and answer on blended opinions to the frequently asked questions (FAQs) on the U.S. Qualification Standards. The new FAQ 50 notes that an actuary fully qualified in one area of actuarial practice may acquire sufficient expertise in another area of actuarial practice through continuing education (CE), as long as the CE includes material in all areas of actuarial practice relevant to the statement of actuarial opinion (SAO) and material that relates specifically to the subject of the opinion. It also discusses qualifications for blended SAOs in which an actuary qualified in one practice area states reliance on an actuary qualified in the other practice area.
Recently Released
The July HealthCheck covers the Academy’s June 25 webinar on the Individual and Small Group Markets Committee’s issue brief on drivers of 2019 health insurance premium changes. It also describes that committee’s presentation at the Society of Actuaries’ 2018 Health Meeting, and includes news about the latest CMS decision to suspend collections and payments under the risk adjustment program established by the ACA.
Fulbright Specialist Opportunity in Slovenia in January
The U.S. Department of State sponsors a Fulbright Program that has issued an open call for a Fulbright Specialist in an Actuarial Mathematics Project in Slovenia for a several-weeks stay in January 2019. At the request of the non-governmental organization promoting the opportunity, the Academy is sharing this information so that any of our interested members can apply. The deadline to apply is Aug. 1; click here for more information and requirements.
‘Magic School Bus’ Books Take Flight
Summer reading adventure awaits your young friends. Copies of the Academy-sponsored Magic School Bus Takes a Risk: A Book about Probability have been popular and are available for ordering. This is a custom-designed book for the Academy that aims to show grade-school children how actuaries use math skills to bring them on amazing journeys. The book is the story of an adventurous field trip led by Ms. Frizzle, where children join Aunt Maxine, an actuary. The Academy donated copies of the book to all Grades 3–5 students in Washington, D.C., public schools. More than 1,000 copies of the book have now been ordered by our adult readers—order individual copies today for the budding mathematicians in your life. The Academy also welcomes corporate sponsorships.
IFRS 17 Seminar to Offer Implementation Tools
Gain the knowledge and tools you need before International Financial Reporting Standard (IFRS) 17 is implemented, and join us next month for the Seminar on Implementing IFRS 17 for Long-Duration Contracts. Space still remains for this seminar, which will be held Aug. 29–30 in Washington. D.C. Register today.
Alerts
CMS released a statement that it will reduce funding for the federally facilitated exchange (FFE) navigator program. The FFE program, which provided $36 million in federal grants for the 2018 open-enrollment period, will provide up to $10 million for the 2019 enrollment period. CMS included in its announcement that it is encouraging navigators to provide information about plans that originally did not meet the requirements for sale on individual health insurance exchanges under the ACA, including association health plans (AHPs); short-term, limited-duration insurance; and health reimbursement arrangements.
The U.S. House of Representatives passed a bill by voice vote on Tuesday. H.R. 4537, The International Insurance Standards Act of 2018, would place restrictions on international insurance agreements made by the federal government.
Public Policy Activity
The Life Illustrations Work Group submitted a comment letter to the California Department of Insurance on Assembly Bill 2634.
A National Law Review article on recent developments of the Joint Select Committee on Solvency of Multiemployer Pension Plans cited Academy Senior Pension Fellow Ted Goldman’s April 18 testimony before the committee on “The History and Structure of the Multiemployer Pension System.”
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.
1850 M Street NW • Suite 300 • Washington, DC 20036 • 202.223.8196 • www.actuary.org
Copyright 2018 American Academy of Actuaries. All rights reserved.