Academy/SOA Individual Disability Table Work Group presents update to the Disability Insurance & Long-Term Care Insurer's Forum on work being done to complete the individual disability table.

Learn what’s new and find out what has been updated in the Academy’s practice note, “Large Group Medical Insurance Reserves, Liabilities, and Actuarial Assets,” which provides information for valuation actuaries regarding their responsibilities relating to the determination of reserve levels and other actuarial assets and liabilities for large group medical insurance coverage. The Sept. 27 webinar topics will include the definition of large group medical business; funding arrangements that are currently being used; pertinent regulatory and legislative issues; and asset adequacy analysis.

The Medical Loss Ratio (MLR) Work Group submitted additional comments to CMS on the proposed rule implementing MLR requirements for Medicare Advantage (MA) and Medicare prescription drug (Part D) programs.

Health actuaries: Do you calculate minimum or actuarial values under the Affordable Care Act? Register now to learn about the new minimum value and actuarial value requirements under the ACA and some of the technical issues associated with these calculations.

Joint Committee on Retiree Health submits comments to the Actuarial Standards Board on revisions to a second exposure draft of ASOP No. 6, Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Prefunding Contributions.

Health and Pension Practice Council sent a letter to the Actuarial Standards Board on coordinating Actuarial Standards of Practice (ASOP) affecting pension and retiree group benefits.

Two Academy practice councils made presentations at the NAIC’s Center for Insurance Policy and Research Summit. Dave Neve, chairperson of the Life Financial Soundness Risk Management Committee, made a presentation on issues related to internal modeling for PBR at the summit on behalf of the Life Practice Council. Academy Vice President Mike Angelina, representing the Casualty Practice Council, presented actuarial perspectives on both property/casualty insurance issues and the effects of current liability reporting.

The Minimum Value Practice Note Work Group released a practice note exposure draft related to determinations of minimum value (MV) and actuarial value (AV) under the Affordable Care Act for a 45-day exposure period. Comments on Minimum Value and Actuarial Value Determinations Under the Affordable Care Act should be submitted by September 30.

Reforms introduced by the Affordable Care Act (ACA) may create uncertainty for health insurance issuers. What does this uncertainty mean for your future financial statements, especially given increased ACA requirements for actuarial estimates in financial reporting? Register for the Aug. 22 webinar to learn about the financial reporting implications of several key provisions of the ACA—premium stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities.

Large Group Medical Business Practice Note Work Group released an updated practice note on large group medical business.

The Health Practice Financial Reporting Committee released a new white paper providing an overview of provisions in the Affordable Care Act - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements.

The Medicare Steering Committee submits written testimony to the House Ways and Means Subcommittee on Health regarding a hearing on the 2013 Medicare Trustees Report.

The Medicare Steering Committee updated its annual issue brief that offers an actuarial perspective on Medicare's financial condition and outlines the public policy options to address the program's long-term financial challenges.

The Health Practice Financial Reporting Committee submitted comments to the NAIC on its proposed modifications to the Maintenance Submission Form that addresses an Accounting Standards Update surrounding fees paid to the federal government by health insurers. 

The American Academy of Actuaries will host a May 17 Hill briefing on how changes to health insurance premiums stemming from the Affordable Care Act (ACA) could vary considerably. Experts will present basic premium concepts; provisions in the ACA that affect premiums; and, how the provisions in ACA may change premiums.