The Academy released a new Essential Elements paper, Medicaid Overview, on the federal-state program that funds health care for millions of low-income Americans. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences. (November 05, 2014)
In this month's Actuarial Update, read about past, present and future leaders’ thoughts on the association’s mission and future; the election of a new Academy President-Elect and other officers; Annual Meeting speakers including former Secretary of Health and Human Services Kathleen Sebelius; how to tell whether you’re using the right actuarial standards of practice (ASOPs); appointments to vital positions at the ABCD and ASB; and much more. (November 08, 2014)
The Financial Regulatory Task Force submitted a comment letter to the Financial Stability and Oversight Council on the importance of actuaries in financial and insurance systems, and its perspective on updates to actuarial standards and guidance. (November 03, 2014)
The Financial Reporting Committee sent comments to the Public Company Accounting Oversight Board on the draft Auditing Accounting Estimates and Fair Value Measurements staff consultation paper. (October 31, 2014)
The PBR Strategy Subgroup sent a comment letter to the NAIC PBR Implementation (EX) Task Force on an exposure draft of AG 48. (October 30, 2014)
The Individual Disability Work Group made a presentation to the NAIC’s Health Actuarial Task Force on the newly revised individual disability report and actuarial guideline. (October 31, 2014)
The Individual Disability Table Work Group provided a revised final report and actuarial guideline on a new individual disability table to the NAIC's Health Actuarial Task Force. (October 31, 2014)
The Life Illustrations Work Group sent a comment letter to the NAIC Life Actuarial Task Force regarding the proposed actuarial guidelines for indexed universal life illustrations. (October 28, 2014)
The Council on Professionalism held its regular early-morning breakfast forum with regulators, discussing “Actuarial Professionalism: Promoting Accountability,” at the National Association of Insurance Commissioners’ (NAIC) Summer 2014 National Meeting in Louisville, Ky., on Aug. 16. At the breakfast, Academy President-Elect Mary D. Miller further discussed the Academy’s new draft attestation template and invited regulators to provide feedback. (August 16, 2014)
The Council on Professionalism has released revised Applicability Guidelines for actuarial standards of practice (ASOPs). The updated edition reflects new and revised ASOPs and is now available for the first time in Excel. The Applicability Guidelines provide actuaries with a nonauthoritative reference as to which ASOPs might apply to them as they perform certain tasks in their actuarial roles. Click here to download the Applicability Guidelines. (October 23, 2014)
The Social Security Committee released an issue brief on the 2014 Social Security Trustees Report that examines the social insurance program’s long-term solvency and states that Congress should act soon to improve the long-term financial outlook of Social Security. (October 22, 2014)