The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC Life Insurance Buyer's Guide (A) Working Group on their recent exposure draft. 

The RBC Tax Reform Work Group submitted a comment letter to the NAIC on suggested changes to risk-based capital calculations. 

Craig Hanna, director of public policy, presented to the NAIC's Climate Change and Global Warming (C) Working Group on the Actuaries Climate Index and the Actuaries Climate Risk Index.

The PBA Governance Work Group presented an update on Academy involvement with PBR to the NAIC's Life Actuarial (A) Task Force. 

The Financial Reporting Committee submitted implementation questions for consideration by the IFRS Transitions Resource Group on IFRS 17 Insurance Contracts.

Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases. 

Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study. 

Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements. 

Chris Whitney, member of the Life Reserves Work Group, gave a presentation on deterministic reserve considerations for indexed universal life (UL) under VM-20 to the NAIC's Life Actuarial (A) Task Force. 

The RBC Tax Reform Work Group submitted a comment letter to the NAIC's Life Risk-Based Capital (E) Working Group on changes to Risk-Based Capital calculations due to recent U.S. corporate tax reform. 

The Workers’ Compensation Committee provided comments to the NAIC’s Workers’ Compensation Task Force, describing the difficulty of comparing rates from one state to another.

The Multiemployer Plans Committee sent a letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans offering the expertise of the Multiemployer Plans Committee as a resource to the Joint Select Committee.

The Health Practice Council gave a briefing on Capitol Hill to policymakers and congressional and federal agency staff, offering expertise on the drivers of growth in drug expenses; benefits versus costs for new treatments; the impact of high and increasing prescription drug costs on payers; and options to address spending. Read the news release.

Past Academy President Mary D. Miller submitted two letters from the Academy to the NAIC this week—one responding to NAIC’s Casualty Actuarial and Statistical Task Force’s (CASTF) request for comments on the appointed actuary’s public attestation and supporting confidential documentation, and a second responding to CASTF’s request for proposals on the three-year experience period.

The Prescription Drug Work Group published an issue brief highlighting prescription drug issues present in our health care system, including cost drivers, the effect on various stakeholders, and possible approaches that might help address the health care cost growth associated with prescription drugs.

The Individual and Small Group Markets Committee sent comments to the U.S. Department of Labor on proposed rules regarding the definition of ‘‘Employer’’ under section 3(5) of ERISA—Association Health Plans.

The AG43/C3P2 Work Group submitted a comment letter to the NAIC's Variable Annuities (E) Working Group on proposed modifications to Actuarial Guideline XLIII (AG43) and C-3 Phase II (C3P2). 

The Health Practice Council sent comments to the Idaho Department of Insurance on allowing health insurers to offer state-based plans that are not compliant with the Affordable Care Act in Idaho.