The Annuity Illustration Work Group submitted a comment letter to the NAIC Annuity Disclosure (A) Working Group on proposed changes to the Annuity Disclosure Model Regulation #245. 

The Medicare Subcommittee has released a new issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance. The brief highlights the findings of the annual report to Congress by the Boards of Trustees of the Federal Hospital Insurance (HI) and Supplementary Medical Insurance (SMI) trust funds on Medicare’s financial condition.

The Life Reinsurance Work Group submitted a comment letter to the Life Actuarial (A) Task Force on exposed amendment proposal forms 2019-17 and 2019-24, which pertain to yearly renewable term reinsurance. 

The Longevity Risk Task Force provided an update on its field study results, key assumptions, and next steps to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting. 

The C-2 Work Group provided an update to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting. 

The PBR Governance Work Group gave an update on Academy PBR involvement to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting. 

The Multiemployer Plans Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) regarding simplified methods and other aspects of computing withdrawal liability under the Multiemployer Pension Reform Act of 2014.

The Life Reserves Work Group gave a presentation to the Life Actuarial (A) Task Force on Amendment Proposal Form 2019-29, which deals with VM-20 and clearly defined hedging strategy requirements. 

The Annuity Reserves Work Group gave an update on the VM-23 proposed timeline to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting. 

The SVL Interest Rate Modernization Work Group gave an update to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting. 

The Life Reserves Work Group gave a presentation on the PBR treatment for individually underwritten group insurance to the Life Actuarial (A) Task Force. 

The Medicare Subcommittee sent a comment letter to the Department of Health and Human Services’ Office of the Inspector General on a proposed rule on safe harbor protection for rebates involving prescription pharmaceuticals and the creation of new safe harbor protections.

The PBR Review Procedures Work Group released an exposure draft of a practice note: Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers, Including Considerations for Principle-Based Reserves. Comments are due to the Academy on Monday, July 1, 2019. 

The Academy responded in writing to questions from the House Subcommittee on Health, Education, Labor, and Pensions as a follow-up to the panel’s March 7 hearing, “The Cost of Inaction: Why Congress Must Address the Multiemployer Pension Crisis,” at which Josh Shapiro, the Academy’s vice president, pension, testified.

The Academy’s senior casualty fellow, Rich Gibson, gave a presentation on the Actuaries Climate Index at Tulane University’s conference on environmental law.

The Academy's senior casualty fellow, Rich Gibson, presented testimony on predictive modeling at a hearing on automobile insurance held by the District of Columbia's Department of Insurance, Securities and Banking.

The Life Practice Council sent a letter to the Life Actuarial (A) Task Force addressing concerns that the NAIC is moving in a direction that would deviate from a principle-based approach for life insurance. 

The Premium Review Work Group sent comments on the recently released final Unified Rate Review Template (URRT) and Instructions.

The Life Illustrations Work Group submitted a comment letter to the NAIC's IUL Illustration (A) Subgroup, addressing questions raised regarding the illustrations of Indexed Universal Life (IUL) products under Actuarial Guideline 49. 

Academy Pension Vice President Josh Shapiro testified March 7 before the House Subcommittee on Health, Employment, Labor, and Pensions, providing written and oral testimony with a nonpartisan, objective, actuarial focus on the increasing financial risks facing some multiemployer plans and the PBGC’s multiemployer program.