The Academy's Senior Health Fellow submitted written testimony to the U.S. House Oversight and Government Reform for its hearing on the Affordable Care Act's risk-corridor program and whether it constitutes a "bailout" for insurance companies. Read the news release.
( )The Academy submitted comments to NAIC’s Joint Qualified Actuary (A/B/C) Subgroup on definitions of “qualified actuary” as prescribed by the NAIC. In a letter from Academy President Tom Terry, the Academy stated that it is willing to work with regulators to make qualifications for health, life, and Property/Casualty actuaries more consistent and address concerns about oversight of qualification. (
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The Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on revisions to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations.
( )Academy RBC work groups sent a letter to the NAIC SMI RBC Subgroup outlining concerns with a Dec. 9, 2013, Capital Adequacy Task Force Operational Risk Proposal.
( )The NAIC's Health Actuarial Task Force has exposed the Individual Disability Table Work Group's proposed disability table, final instructions for utilizing the table, and final report which includes an actuarial guideline and proposed changes to the Health Insurance Reserves Model Regulation.
( )Rate Review Practice Note Work Group letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a second draft of revisions to the Unified Rate Review Template (URRT) and actuarial memorandum instructions.
( )The Individual Disability Table Work Group released detailed instructions on how to use the newly revised individual disability valuation table.
( )The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on a new proposed list of changes to the Unified Rate Review Template (URRT) for quarterly 2014 and annual 2015 filings. The letter also reiterates several other technical comments on the URRT and actuarial memorandum instructions.
( )The Health Practice Council submitted a comment letter to the U.S. Department of Health and Human Services in response to the proposed rule regarding benefit and payment parameters for 2015. The letter represents input from three Academy work groups on issues associated with composite rating, proposed changes to the actuarial value calculator and methodology, and the three risk-sharing mechanisms.
( )The National Association of Insurance Commissioners Health Insurance and Managed Care (B) Committee adopted the Academy/SOA's group long-term disability valuation table and actuarial guideline at its fall national meeting.
( )The Individual Dsiability Table Work Group gave a presentation on an updated table to the NAIC's Health Actuarial Task Force.
( )The Long-Term Care Principle-Based Work Group presented an update to the NAIC's Long-Term Care Actuarial Working Group on work to complete the LTC principle-based approach model.
( )The Academy/SOA's Individual Disability Table Work Group provided a final report and actuarial guideline on a new individual disability table to the NAIC's Health Actuarial Task Force at its fall national meeting.
( )The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on the current versions of the Unified Rate Review Template and the actuarial memorandum instructions.
( )The Health Practice Council published a new fact sheet that provides an overview of the three risk-sharing mechanisms included in the Affordable Care Act (ACA) - the permanent risk adjustment program, temporary risk corridors, and the transitional reinsurance program.
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