The Nonforfeiture Modernization Work Group presented an update on the group’s activities to the NAIC Life Actuarial (A) Task Force at the NAIC 2015 Summer Meeting. (August 14, 2015)

Academy representatives Richard Daillak and Mary Bahna-Nolan addressed NAIC Life Actuarial (A) Task Force at the NAIC Summer 2015 National Meeting. Mr. Daillak, Chair of the Life Reinsurance Work Group, presented on Treatment of YRT reinsurance in Stochastic Exclusion Ratio Testing. Ms. Bahna-Nolan, Chair of the Life Practice Council, discussed the topic of accelerated underwriting. (August 14, 2015)

The Cancer Claims Cost Tables Work Group presented to the NAIC's Health Actuarial Task Force on the progress of the valuation table and expected next steps. (August 14, 2015)

The Long-Term Care Terminations Work Group presented an update to the NAIC's Long-Term Care Actuarial Working Group on progress made in developing a recommendation on LTC terminations and next steps.  The Long-Term Care Principle-Based Work Group offered an update on developing a principle-based approach model and a timeline for completion, and the Long-Term Care Credibility Monograph Work Group presented its progress in drafting a monograph that addresses long-term care credibility.   (August 14, 2015)

The Pension Accounting Committee and Pension Committee released an issue brief on alternative expense methodologies and their theoretical rationales and implications. (August 14, 2015)

In the August issue of HealthCheck, read about the Academy's Medicare@50 series, marking the federal health care program's 50th anniversary at the end of July; and the Medicare Subcommittee's annual issue brief, Medicare's Financial Condition: Beyond Actuarial Balance, which offers a long-term actuarial perspective on Medicare's long-term financial status. Also, Senior Health Fellow Cori Uccello was quoted in a Medicare story that received widespread distribution, and Cathy Murphy-Barron, vice president for health issues, was quoted in a story about the Affordable Care Act's risk-corridor program. (August 13, 2015)

The Solvency Committee submitted comments to the National Association of Insurance Commissioners (NAIC) on the Discussion Draft on Approaches to a Group Capital Calculation dated July 23, 2015. (August 07, 2015)

The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Higher Loss Absorbency Capacity for Global Systemically Important Insurers (G-SIIs) public consultation document dated June 25, 2015. (August 06, 2015)

More than 400 people attended the Academy's August 4 webinar, “International Insurance Regulation 201: IAIS Development of Insurer Capital Standards.” Three panelists and moderator Elizabeth Brill, chairperson of the Solvency Committee, looked at the International Association of Insurance Supervisors’ efforts to develop capital standards to prevent the insolvency of large multinational insurers. Slides and audio are available on the Academy’s website, and more information will be included in the August Actuarial Update. (August 05, 2015)

The Individual and Small Group Markets Committee released an issue brief that provides an overview of the factors underlying the general premium rate setting and highlights the major drivers behind why 2016 premiums could differ from those in 2015 under the Affordable Care Act (ACA). Click here to read the news release. (August 05, 2015)

The July issue of Actuarial Update leads with a story on the Actuarial Standards Board‘s public hearing on public pensions, which was held July 9 in Washington. Other topics covered include a look at a new issue brief that examines international wellness programs in several different countries, coverage of the July 22 professionalism webinar on modeling, and an update on sessions for the Academy‘s Annual Meeting and 50th anniversary celebration in Washington Nov. 12-13. (July 31, 2015)

The Financial Reporting Committee, Pension Accounting Committee, Casualty Committee on Property and Liability Financial Reporting, Health Financial Reporting and Solvency Committee, and Life Financial Reporting Committee sent comments to the Public Company Accounting Oversight Board (PCAOB) on its “The Auditor's Use of the Work of Specialists” consultation paper. (July 31, 2015)