The Health Equity Committee released the final two issue briefs in its "Health Benefit Design Innovations for Advancing Health Equity: Removing the Barriers to Successful Implementation" series. How to Better Understand the Needs of the People We’re Trying to Serve explores how to better understand unmet needs and incorporate
input from employees and plan members into the benefit design decision-making process, and Overcoming Constraints to Implementation discusses some of the challenges of implementing equity-enhancing benefit plans—and possible solutions. The lessons learned in discussions that led to the four issue briefs will be the topic of a special Health Symposium: Health Benefit Design Innovations for Advancing Health Equity Nov. 15, from 8:15 a.m. to 3:45 EST. (November 10, 2023)
The Social Security Committee released an issue paper, Social Security and Financially Disadvantaged Groups, focusing on how benefits received by different groups are shaped by features of the program interacting with circumstances and trends associated with members of financially disadvantaged groups. The paper also discusses various reform proposals and how they might affect members of certain groups. (November 10, 2023)
Health Care Receivables Factors Work Group member David Quinn provided an update to the NAIC’s Health Risk-Based Capital (E) Working Group on the current and proposed H3 Factors. (November 08, 2023)
The Social Security Committee released an issue brief, Reforming Social Security Sooner Rather Than Later, which notes that earlier reform action would allow for tax increases and benefit reductions to be phased in gradually and provide individuals more time to plan and adjust to the changes. Read the Academy news release. (October 30, 2023)
The Committee on Property and Liability Financial Reporting (COPLFR) submitted a comment letter to the Actuarial Standards Board (ASB) on the second exposure draft of ASOP No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves. (November 01, 2023)
The Committee on Cyber Risk released a new chapter in the Cyber Risk Toolkit, "Personal Cyber: An Intro to Risk Reduction and Mitigation Strategies." The chapter identifies some of the penetration points of cyberattacks from an individual’s perspective and examines how an individual can work to minimize their risk of being hacked. (October 30, 2023)
Fall is traditionally a time of plenty, when harvests are gathered in and stored for winter. Images of cornucopias, filled with pumpkins and other fall produce, signal an abundance of resources to weather the cold months ahead. With professionalism at the heart of the Academy’s mission, we’ve created a cornucopia of professionalism resources to help you keep your professionalism knowledge up to date. (October 31, 2023)
The Health Solvency Subcommittee’s Health Underwriting Risk Factors Analysis Work Group sent a letter updating the NAIC’s Health Risk-Based Capital (E) Working Group (HRBC) on progress on the NAIC’s request to comprehensively review the H2—Underwriting Risk Component and the Managed Care Credit Calculation included in the HRBC formula. (October 31, 2023)
The Life Practice Council and Casualty Practice Council submitted comments to the Colorado Division of Insurance on its draft regulation, Concerning Quantitative Testing of External Consumer Data and Information Sources, Algorithms, and Predictive Models Used for Life Insurance Underwriting for Unfairly Discriminatory Outcomes. The comments reiterated support for Colorado’s initiative to prevent unfairly discriminatory practices in insurance and shared actuarial perspectives related to the design of the data testing requirement. (October 26, 2023)
The Annuity Reserve and Capital Subcommittee submitted comments to the NAIC's Valuation Manual (VM)-22 Subgroup on the July 2023 exposure draft of the VM-22 Standard Projection Amount (SPA), reiterating its recommendation that the regulation not include a binding SPA. (October 24, 2023)
The Health Practice Council’s Long-Term Care (LTC) Reform Committee submitted comments to the Office of the State Actuary for the state of Washington on key issues related to LTC financing and risk management. The letter provides information on considerations necessary to achieve and maintain long-term services and supports (LTSS) trust solvency for the WA Cares Fund Program. (October 23, 2023)
The Pension Committee and Multiemployer Plans Committee responded to the Pension Benefit Guaranty Corporation’s (PBGC) request for comments regarding the proposed rule on Valuation Assumptions and Methods. (October 17, 2023)
The Pension Committee submitted comments in response to the Department of Labor (DOL) Employee Benefits Security Administration’s (EBSA) Request for Information on a number of SECURE 2.0 provisions that impact the reporting and disclosure framework of the Employee Retirement Income Security Act of 1974 (ERISA). (October 10, 2023)
Academy Senior Health Fellow Cori Uccello received the prestigious Wynn Kent Public Communication Award from the Conference of Consulting Actuaries (CCA) at CCA’s Annual Meeting. In remarks accepting the award, she said actuaries’ work touches the lives of every American, including affecting who has access to insurance coverage for their life, health, home, or auto, and how much they have to pay for that coverage; safeguarding financial and health security during retirement through pensions, Social Security, and Medicare; and helping ensure that the benefits promised to them can be fulfilled. (October 16, 2023)
Senior Health Fellow Cori Uccello gave an overview of the Health Equity Committee’s work on equity considerations related to benefit design to the Center on Budget and Policy Priorities’ (CBPP) Marketplace Affordability Project. (September 20, 2023)
