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Health Webinar Looks at LTC Insurance
The Academy hosted a health webinar Friday that examined the Long-Term Care (LTC) Reform Subcommittee’s LTC Actuarial Equivalence Work Group’s recently released public policy issue brief, Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases. Speakers were LTC Actuarial Equivalence Work Group members Raymond Nelson, Rhonda Ahrens, and Robert Darnell. Work group Chairperson Gregory Gurlik moderated. They looked at actuarial equivalence for LTC insurance rate increases, whether a new inflation rate is reasonable, reduced benefit options in lieu of a rate increase, and took questions from attendees. Slides and audio will be available soon.
Prominent Actuaries of CMS, SSA to Offer a Deep Dive Into Trustees’ Reports
Join the Academy for next week’s Capitol Forum webinar that will offer insights into the recently released annual Medicare and Social Security trustees’ reports. It will feature prominent actuaries of the Social Security Administration (SSA) and the Centers for Medicare & Medicaid Services (CMS), who will provide a deep dive into the assumptions and how recent events-such as the COVID-19 pandemic and related economic downturn-are reflected in their projections. Rina Vertes and Amy Kemp, respective chairpersons of the Academy’s Medicare and Social Security committees, will facilitate the discussion and provide a summary of the trustees’ findings. The webinar is next Friday, June 17, from noon to 1:30 p.m. For more details and to register, visit the event page.
Academy Presents on Medicare Trustees Report at BPC Webinar
Academy Senior Health Fellow Cori Uccello was the keynote speaker at the Bipartisan Policy Center’s (BPC) Tuesday webinar on the recent Medicare Trustees Report. She gave background on the program’s finances regarding income and expenses, and noted challenges in the Hospital Insurance (HI) trust fund and Supplementary Medical Insurance (SMI) trust fund, and said increases in total Medicare spending threaten the program’s sustainability. And she cautioned that because this year’s projections were particularly uncertain, the time to start addressing the program’s financial challenges is now. “In addition, we need to think about whether and how the program affects racial and ethnic disparities,” Uccello said. “The Medicare program has a great opportunity here to be a leader in addressing health equity.”
“What the Health?”-Uccello also discussed the Trustees Report on the “What the Health?” podcast, a popular weekly podcast hosted by Kaiser Health News’ Julie Rovner.
Academy Professionalism Outreach Spotlights ABCD’s Vital Work
The Actuarial Board for Counseling and Discipline’s (ABCD) role and work were the focus of ABCD member Godfrey Perrott’s in-person professionalism session at the Northern New England Actuaries’ Club’s meeting Thursday in Portland, Maine. Perrott discussed the ABCD’s role and processes in considering potential violations of the Code of Professional Conduct, and how the ABCD responds to requests for guidance (RFGs). He also provided an update on the latest statistics of cases and RFGs, and guided a discussion of anonymous case studies to illustrate the types of disciplinary considerations that could be at play in different scenarios of potential violations.
Three Weeks Left to Secure Early Discounts for LHQ Seminar
Register today for an early-registration rate to the Academy’s 2022 Life and Health Qualifications Seminar, to be held Nov. 14-17 in Arlington, Va. Don’t miss out on the discounted rate-register by June 30 and save $200.
Submit Nominations for the Academy’s Annual Service Awards
Academy members are invited to submit nominations for four Academy annual service awards, including the new Rising Actuary Award. To find out more about the awards and how to submit nominations, click here.
Public Policy in Focus
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The Health Practice Council’s Individual and Small Group Markets Committee and Active Benefits Subcommittee submitted comments to the Internal Revenue Service (IRS) on the proposed rule for “Affordability of Employer Coverage for Family Members of Employees.” The comments relate to provisions addressing the so-called “family glitch,” revisions to the employer coverage affordability test, and the Minimum Value (MV) Calculator.
In the News
Upcoming Events
Coming Soon
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The Record-The 2021 edition of The Record, the Academy’s annual report to its membership and the public, recapping the work of Academy volunteers over the past year in serving the public and the U.S. actuarial profession.
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Social Security Issue Brief-The Social Security Committee will publish an issue brief on the recently released 2022 Social Security Trustees Report.
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Member Value Survey-The Academy is embarking on a renewed effort to better understand and respond to the evolving needs of its members, resulting in enhanced benefits, programs, and products across all Academy channels-all of which contributes to greater value for our members. Watch for a member value survey that invites you to share your voice and perspectives with the Academy, which will help us better serve you.
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