The Medicaid Work Group submitted comments to the Centers for Medicare and Medicaid Services requesting specific guidance on the Affordable Care Act's Health Insurance Providers (HIP) fee and how it affects the Medicaid program. (July 07, 2014)
In this month's Actuarial Update, read about the Academy Senior Health Fellow’s two Capitol Hill appearances in June; a new “Essential Elements” paper on terrorism risk insurance; case studies on actuarial communications rules and standards; PBGC activities and the role of actuaries; and an examination of the availability and affordability of auto insurance; and much more. (July 02, 2014)
The Academy released a new Essential Elements paper, Terrorism Risk Insurance, that explores the Terrorism Risk Insurance Program, how terrorism insurance is different from other types of insurance, and the case for extending the program. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. (June 30, 2014)
In the latest issue of EAR, read about coverage of the 2014 Enrolled Actuaries Meeting and Pension Symposium, pension insurance policy, the 2014 Gray Book, and much more. Click here to read. (June 27, 2014)
The Life Practice Council sent a comment letter to the NAIC Principle-based Reserving Implementation (EX) Task Force on its June 4 exposure of the Rector Report. (June 25, 2014)
The Tax Work Group sent a comment letter to the NAIC Health Actuarial Task Force on the tax implications of the 2013 Individual Disability Income Valuation Tables. (June 26, 2014)
The Casualty Practice Council submitted comments on the Casualty Actuarial Society’s Statement of Principles on P&C Ratemaking revised draft. (June 20, 2014)
The Academy published PBA Perspectives to provide quarterly updates on activities surrounding the implementation of the Principle-based Approach (PBA) for life insurance. The newsletter includes reports on legislative, regulatory, and Academy activity relating to PBA. PBA Perspectives will also provide updates on state legislative adoption of the new principle-based methodology. (June 20, 2014)
The Health Practice Financial Reporting Committee submitted comments to the NAIC’s Statutory Accounting Principles Working Group on its new accounting proposal for the risk-sharing programs of the Affordable Care Act. (June 20, 2014)
Academy Senior Life Fellow Nancy Bennett gave a presentation on regulatory capital requirements for U.S. life insurers to the Financial Stability Oversight Council Insurance Industry Work Group. (June 17, 2014)
The Stress Testing Work Group sent a comment letter to the NAIC Life Risk-Based Capital Working Group on its recent stress testing proposal. (June 18, 2014)
On June 18, Cori Uccello, the Academy's senior health fellow, provided members of the U.S. House Committee on Oversight and Government Reform's Subcommittee on Economic Growth, Job Creation, and Regulatory Affairs with an objective actuarial assessment of the three Affordable Care Act (ACA) risk-sharing mechanisms. Read the written testimony and the news release. (June 18, 2014)