Academy Health Practice Council (HPC) Vice Chairperson, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during their virtual meeting in lieu of the 2022 Summer National Meeting.

The Health Solvency Subcommittee submitted a letter response to its previous report to the NAIC’s Health Risk-Based Capital (E) Working Group to provide a timeline to analyze and comprehensively review the H2—Underwriting Risk component and the managed care credit calculation in the health risk-based capital (HRBC) formula.

The Group Life Waiver Premium Valuation Table Work Group submitted Proposed 2022 Group Life Waiver Tables and Adjustment Factors to the National Association of Insurance Commissioners’ (NAIC) Health Actuarial (B) Task Force (HATF). This Excel file is an addendum to the “Draft of the Revised AG 44” document, and the Graduation of Group Life Waiver of Premium Disability Experience Rates report by Jerry Holman (dated February 2022) submitted to HATF on June 13, 2022.

The Long-Term Care Valuation Work Group gave a follow-up presentation to the National Association of Insurance Commissioners (NAIC) NAIC Long-Term Care Actuarial (B) Working Group to discuss the data set used in preparation of the of the Long-Term Care Insurance Mortality and Lapse Study. The NAIC will develop a list of areas that they would like commenters to focus on, and then will expose the report for a 60-day period.

This infographic illustrates the factors underlying premium rate setting and highlighting the major components driving premium changes in the individual and small group markets for 2023, that are discussed in the recently released issue brief.

The Individual and Small Group Markets Committee released an issue brief laying out the factors underlying premium rate setting and highlighting the major components driving premium changes in the individual and small group markets for 2023.

The Group Life Waiver Premium Valuation Table Work Group submitted recommendations for the revised 2022 Group Life Waiver of Premium Valuation Table and the revised Actuarial Guideline 44 (AG 44) to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force (HATF).

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.

The Medicare Committee released an issue brief on the financing challenges facing the Medicare program based on the 2022 Medicare Trustees Report.

The Long-Term Care (LTC) Reform Subcommittee’s LTC Actuarial Equivalence Work Group released the public policy issue brief, Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases. This issue brief examines the relationship of benefits to premiums for reduced benefit options (RBOs) in the context of ongoing long-term care insurance (LTCI) premium rate increases.

Group Life Waiver Premium Valuation Table Work Group chairperson, Sue Sames, presented an update on proposed recommendations to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force on the Group Life Waiver of Premium Valuation Table and Actuarial Guideline 44 (AG 44). The purpose of the presentation was to give an overview of the work group’s progress and present the initial set of recommendations.  

On April 9, 2022, Academy Board member and Health Equity Work Group (HEWG) Chairperson Annette James presented to about 150 students at the Drake Symposium on Insurance on “Diversity, Equity & Inclusion in the Actuarial Profession.” Chairperson James highlighted the Academy’s strategic focus and ongoing efforts to address DE&I, including fostering a diverse, inclusive profession. She also presented on ongoing multifaceted HEWG initiatives to address health equity. 

Academy Health Practice Council (HPC) Vice Chairperson, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during the Virtual 2022 Spring National Meeting.

The Health Care Delivery Committee released an issue brief on the “Implications of Hospital Price Transparency on Hospital Prices and Price Variation.” The brief emphasizes that price transparency may be a necessary, but not sufficient mechanism, to lower hospital prices and health care spending.

The Long-Term Care Medicaid Subcommittee submitted a comment letter to the Centers for Medicare & Medicaid Services (CMS) on the proposed rule, “Medicare Program; Contract Year 2023 Policy and Technical Changes to the Medicare Advantage and Medicare Prescription Drug Benefit Programs.” The comments focused on dual-eligible special needs plans (D-SNP’s) and separate medical loss ratio (MLR) requirements.