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Academy Presents at NAIC
As part of its charge to engage with external stakeholders, Academy volunteers and staff attended and presented on a variety of professionalism and public policy topics at this week’s NAIC Summer National Meeting in Chicago.
Kevin Dyke, chairperson of the Actuarial Standards Board; Academy President Lisa Slotznick; and Casualty Policy Analyst Rob Fischer outside the CASTF meeting
Health Actuarial (B) Task Force (HATF)
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Senior Health Fellow Cori Uccello on Monday gave a presentation on the “Drivers of 2025 Federal Affordable Care Act (ACA) Health Insurance Premium Changes.” The presentation highlighted the recently released issue brief and infographic (see below).
Senior Health Policy Analyst Matthew Williams provided updates on Health Practice Council (HPC) activities since the March 2024 meeting. These included updates on the 2024 annual Hill and agency visits, health-specific webinars, and the status of various workstreams with the NAIC. -
The Academy also updated HATF on the drafted health appointed actuary knowledge statements. This project is in response to the direct request from LATF in November 2023. Academy presenters Lisa Slotznick, Darrell Knapp, and Rhonda Aherns noted that life appointed actuary knowledge statements were shared earlier in the day with LATF (see below for more). The Academy will complete the drafting work and submit a final version of the knowledge statements to LATF and HATF by the Fall National Meeting in Denver for the NAIC to take lead on going forward.
Long-Term Care Actuarial (B) Working Group
Special (EX) Executive Committee on Race and Insurance
Annette James, co-chairperson of the Health Equity Committee (HEC), shared the HEC’s 2023 activities focused on health benefit design innovations for advancing health equity, highlighting the yearlong discussion groups, issue briefs, and symposium. She also spoke about the HEC’s current focus on behavioral health and developing a framework that actuaries could use to incorporate other factors into their evaluation of health benefits.
Life Actuarial (A) Task Force (LATF)
Over the two days of the LATF meeting, the Academy participated in several discussions of current work products, to include the Generator of Economic Scenarios (GOES) project, which was the topic of an Academy LPC webinar earlier this year. The Academy’s life policy analyst, Amanda Barry-Moilanen, presented on current and future Life Practice Council workstreams to the LATF. The Academy also updated LATF on the drafted life appointed actuary knowledge statements. This project is in response to the direct request from LATF in November 2023. Academy presenters Lisa Slotznick, Darrell Knapp, and Rhonda Aherns noted that additional drafted language for qualified actuaries and illustration actuaries will be forthcoming. Following the presentation, LATF Chair Rachel Hemphill (Texas) posted the draft language for a 30-day public comment period. The Academy will complete the drafting work and submit a final version to LATF and HATF by the Fall National Meeting in Denver.
Casualty Actuarial and Statistical (C) Task Force (CASTF)
Steve Jackson, the Academy’s director of research (public policy), gave a short presentation to the Title Insurance (C) Task Force, asking regulators which questions they would like to see explored. Rich Gibson, the Academy’s senior casualty fellow, spoke briefly to representatives of the Antifraud (D) Task Force to share an update on a forthcoming paper from the Committee on Equity and Fairness and to secure time for a future presentation at the November NAIC Fall National Meeting.
Throughout the meeting, professionalism representatives from the Academy’s Committee on Qualifications (COQ), the Actuarial Standards Board (ASB), and the Actuarial Board for Counseling and Discipline (ABCD) gave brief updates on current activities at LATF, HATF, and CASTF. Academy representatives included:
LATF-Lisa Slotznick (Academy Board), Maryellen Coggins (COQ), Laura Hanson (ASB), and Shawna Ackerman (ABCD) -
HATF-Lisa Slotznick (Academy Board), Maryellen Coggins (COQ), Kevin Dyke (ASB), and John Schubert (ABCD)
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CASTF-Lisa Slotznick (Academy Board), Maryellen Coggins (COQ), Kevin Dyke (ASB), and Shawna Ackerman (ABCD)
Mark Your Calendars: Too busy to attend the NAIC Summer Meeting in Chicago-or just want to know more about what happened there, and what’s up next at the fall meeting in Denver? Hear from the Academy’s analysts about the latest in casualty, health, life, risk management/financial reporting, and more as part of a “National NAIC Meeting Recap: Summer 2024.” This recap will be released Thursday, Aug. 22, and available to watch on demand-look for an announcement next week.
Premium Drivers Issue Brief, Infographic Released
The Individual and Small Group Markets Committee released an issue brief, Drivers of 2025 Health Insurance Premium Changes, along with an accompanying infographic. The brief provides discussion on the factors that are likely to drive health insurance premium changes in 2025 for plans operating in the individual and small group markets subject to Affordable Care Act rules. The infographic breaks down the factors in easy-to-understand language.
In the Academy’s news release on the brief, Senior Health Fellow Cori Uccello noted, “Pressures on ACA-market premiums are relatively mild compared to some previous years, but there is some upward pressure from higher prescription costs and, to a lesser degree, inflation.”
Academy Board Selection Process Update
Please Be on the Lookout: On Aug. 21 you will receive an email from Intelliscan (Academy2024@intelliscanvotes.com), the vendor we are working with to manage the selection process for member-selected director positions on the Academy Board. This email will include information outlining the selection process.
To ensure you receive it, please be sure to add this email address to your safe senders list and to check your spam folder after Aug. 21.
Visit the Academy’s Board Selection Center to learn more about the process, the Nominating Committee’s current slate of nominees, and more information on this year’s member-selected director candidates.
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