The LTC Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance (EX) Task Force regarding the exposure drafts of the operational and actuarial sections of the Long-Term Care Insurance Multi-State Rate Review Framework released September 10 and September 15, 2021.

The Life Financial Reporting Committee’s Market Risk Benefits Work Group published an exposure draft of a white paper, Considerations in Market Risk Benefits. The paper is exposed for public comment for 60 days, through Dec. 6. Comments may be submitted to lifeanalyst@actuary.org.

The Pension Practice Council (PPC) published an issue brief, The 80% Pension Funding Myth, which addresses a persistent misconception that pension plan health or soundness can be determined solely by referencing a supposed 80% funded ratio “standard.” Read the news release.

The Pension Committee submitted comments in response to the Financial Accounting Standards Board’s (FASB) June 2021 solicitation of stakeholder feedback on its future standard-setting agenda.

The Medical Professional Liability Committee released an issue brief on medical professional liability considerations stemming from the COVID-19 pandemic related to changes in health care delivery, the regulatory environment, and coverage and exposure consideration. 

The Social Security Committee released an issue brief focusing on implications of COVID-19 reflected in the annual Trustees Reports from 2020 and 2021.

The Social Security Committee released an issue brief on the 2021 Social Security Trustees Report examining the social insurance program’s long-term solvency issues.

Academy President-Elect Maryellen Coggins and Steve Jackson, assistant director for research (public policy), presented Sept. 13 at the Virtual Casualty Loss Reserve Seminar and Workshops (CLRS), on the Academy’s scalars research paper. The CLRS is sponsored jointly by the Academy and the Casualty Actuarial Society.

The Health Equity Work Group (HEWG) released a discussion brief, Health Equity from an Actuarial Perspective: Provider Contracting and Network Development. This discussion brief is part of a series developed by the HEWG to provide more context on issues raised in the initial discussion brief, Health Equity from an Actuarial Perspective: Questions to Explore.

The Health Care Delivery Committee and its Telehealth Work Group submitted comments to the Centers for Medicare & Medicaid Services (CMS) on CMS’ proposed rule on Medicare, payment policies, and enrollment regulation updates.

The Life Illustrations Work Group updated the Life Insurance Illustrations Practice Note to better reflect current practices actuaries are using when complying with ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation, which was revised and adopted in December 2016.

The Medicare Subcommittee released an issue brief on the financing challenges facing the Medicare program based on the 2021 annual review of the Medicare program’s trustees.

The Long-term Care Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance Reduced Benefit Options (EX) Subgroup regarding the July 22, 2021 exposure draft, Issues Related to LTC Wellness Benefits.

The Academy’s Securing Social Security Essential Elements provides updated figures and information on the financial outlook of Social Security following the release of the 2021 Social Security Trustees report. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. Read the news release.

The Academy’s Medicare’s Long-Term Sustainability Challenge Essential Elements provides updated figures and information on the financial outlook of Medicare following the release of the 2021 Medicare Trustees report. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. Read the news release.

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 2022. Read the news release.

The Cyber Risk Task Force released a collection of publications combined together in the Cyber Risk Toolkit. The toolkit is intended to be a resource for interested readers of the general public, public policymakers, the actuarial profession, the insurance sector, and other stakeholders. The toolkit is comprised of an Introduction to Cyber, Cyber Threat Landscape, Silent Cyber, an Introduction to Cyber Data, Cyber Risk Accumulation, Cyber Risk Reinsurance Issues, and Ransomware. The toolkit may be updated periodically to reflect new and emerging work from the task force. 

The Multiemployer Plans Committee submitted a comment letter to the Pension Benefit Guaranty Corporation (PBGC) regarding its Interim Final Rule on Special Financial Assistance pursuant to the American Rescue Plan Act of 2021.

The Long-term Care (LTC) Reform Subcommittee released an issue brief on LTC financing reform proposals involving public programs. This issue brief provides a side-by side assessment of various federal and state reform programs and proposals using essential criteria for LTC financing reform proposals developed by the Academy.

The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted comments to the Centers for Medicare & Medicaid Services (CMS) on the proposed rule, Updating Payment Parameters, Section 1332 Waiver Implementing Regulations, and Improving Health Insurance Markets for 2022 and Beyond.