Drivers of 2024 Health Insurance Premium Changes

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In this virtual briefing, members of the Individual and Small Group Markets Committee of the American Academy of Actuaries’ Health Practice Council highlighted the drivers affecting premiums for 2024. They provided an overview of the major drivers and discuss why premiums could differ, and walk through the factors actuaries might consider in the premium rate-setting. They explored several possible drivers of changes in health insurance premiums, including:

• Shifting payment responsibilities for COVID-19 testing and vaccines;
• Shifting of small groups from fully insured plans to other funding arrangements;
• Resumption of Medicaid eligibility redeterminations by states; and
• Inflation.

Insurance Fraud: Perspectives from the Market, Government, and Actuarial Profession

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According to the FBI, the total cost of insurance fraud (non-health insurance) is estimated to be more than $40 billion per year, which equates $400 and $700 per year in the form of increased premiums for the average U.S. family. Insurance fraud impacts affordability of insurance with considerations for pricing and underwriting. During this webinar, attendees learned more about insurance fraud and its impacts on property and casualty insurance, as well as external resources and other fraud related information.

Overview of CMS’ New Proposed Rules for Ensuring Access to Medicaid Services, and Managed Care Access, Finance, and Quality

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A valuable benefit of Academy membership is free and unlimited access to the Council on Professionalism’s entire—and growing—library of professionalism webinars, which date back to September 2007. 

2024 Final Rules for Exchanges

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Attendees heard an overview of the Academy's comments, whether and how they were incorporated into the final rule, and key components of the final rule.

Medicare’s Financing Challenges and Options to Address Them

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The chief actuary for the Centers for Medicare & Medicaid Services (CMS) provided an overview of the trustees report findings and highlighted the challenges to the program’s solvency and sustainability. Panelists then discussed a range of possible options to address those challenges. 

The Great Unwinding: What’s Next for the Medicaid Population?

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During this webinar, our presenters discussed the unwinding of the continuous coverage requirements and the projected effects on health coverage for the Medicaid population. Members of the American Academy of Actuaries also shared considerations for addressing the unwinding in Medicaid managed care capitation rate setting. 

Considerations for Calculating Cost-Sharing Reduction Load Factors

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During this webinar, members of the Individual and Small Group Markets Committee and its Risk Sharing Subcommittee provided more insight into this issue, as well as detailed information regarding the different methodologies used for calculating CSR loads, the different loads those different approaches can produce, and the implication of CSR loads that may be either too high or too low relative to actual experience.

Virtual Briefing: Drivers of 2023 Health Insurance Premium Changes

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During this virtual briefing, members of the committee who drafted the issue brief walked through the factors actuaries might consider in the premium rate-setting for 2023. 

Capitol Forum Webinar-Social Security and Medicare Trustees Reports: A Deep-Dive Discussion With the Programs’ Chief Actuaries

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Attendees gained insights into the recently released annual Medicare and Social Security trustees’ reports during this webinar, which featured prominent actuaries overseeing the two programs.

Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases

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During this webinar, our presenters provided a framework through which regulators, insurers, and other interested parties, may think about the relationship of benefits to premiums for insureds facing a LTCI premium rate increase, including those who accept a rate increase and those who do not.