The Medicaid Committee released a public policy issue brief providing an overview of Medicaid managed care state-directed payments. The brief discusses: how these payments have evolved from supplemental and pass-through payments; recent changes to federal guidance governing them; and recommendations from the Medicaid and CHIP Payment and Access Commission (MACPAC). (September 16, 2022)
The Academy's Lifetime Income Risk Joint Committee released an issue brief that that provides a discussion of a variety of approaches for adding annuity options to defined contribution (DC) plans providing for insured lifetime income that begins immediately, is deferred, or is provided under an accumulation product that converts funds to lifetime income. (August 31, 2022)
The Academy's Lifetime Income Risk Joint Committee released an issue brief that provides a discussion of the various types of insured annuities available to individuals and their potential uses, as well as some relevant tax implications. (August 31, 2022)
The Academy's Lifetime Income Risk Joint Committee released an issue brief providing a discussion of Qualifying Longevity Annuity Contracts (QLACs), which are insured annuities paid out one or more years after purchase, possibly starting at an advanced age. (August 31, 2022)
The Academy’s Life Illustrations Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force and its Indexed Universal Life (IUL) Illustration (A) Subgroup regarding the August 15, 2022 Indexed Universal Life (IUL) Illustration (A) Subgroup Indexed Universal Life Exposure. (September 06, 2022)
The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted a letter to the CCIIO on cost-sharing reduction (CSR) premium load factors. The letter was also submitted to state regulators and legislators. The letter first discusses using actual experience data/issuer pricing models to develop the load factor. It then discusses a method using federal actuarial value (AV) levels to develop the load and potential drawbacks of this approach. (September 08, 2022)
The Academy has received questions about where members can obtain continuing education (CE) on bias. As a reminder, the revised U.S. Qualification Standards released last fall requires 1 hour of continuing education (CE) each year on bias topics. Here are some places to find it. (September 07, 2022)
The Academy's Social Security Committee released an issue brief that explores a wide variety of proposals made over the years for changing the formulas for determining benefits by members of Congress, government-appointed panels and commissions, and outside experts, with an eye toward how the proposed changes would affect the balance between individual equity and social adequacy. (August 31, 2022)
The Academy's Social Security Committee released an issue brief that explores a wide variety of proposals made over the years for increasing the system’s revenue by members of Congress, government-appointed panels and commissions, and outside experts. (August 31, 2022)
The Health Equity Committee released a public policy issue brief on health care and health insurance system risk assessment and risk adjustment in the context of health equity. Risk assessment and risk adjustment are valuable tools that are used for a variety of purposes and are being reexamined to understand whether and how they should incorporate social risk factors. (August 30, 2022)
The Health Equity Committee sent comments responding to the Centers for Medicare & Medicaid Services’ (CMS) request for information (RFI) that was seeking public comment on the Medicare Advantage program. The committee specifically focused on the health equity aspects of the questions posed within the RFI. (August 30, 2022)
The Academy’s Index-Linked Variable Annuity Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup regarding Exposure 4 of the Proposed Actuarial Guideline ILVA, Nonforfeiture Requirements for Index Linked Variable Annuity Products. (August 23, 2022)
The Academy’s Annuity Reserves and Capital Work Group (ARCWG) submitted comments to the National Association of Insurance Commissioners’ Valuation Manual (VM)-22 (A) Subgroup on its exposure draft regarding specific treatment in the VM-22 Framework for addressing longevity reinsurance. (August 12, 2022)
It may have been a while since you last looked at Actuarial Standard of Practice (ASOP) No. 1, Introductory Standard of Practice, but ASOP No. 1 is a tool to help you understand all the other ASOPs—a kind of guide or roadmap. Unlike any other standard of practice, it defines terms that are used across the ASOPs (July 31, 2022)
Last year, the Committee on Qualifications (COQ) released completed revisions of the U.S. Qualification Standards (USQS). Since then, the COQ has updated the Frequently Asked Questions (FAQs) on the USQS twice—once in February and once in May. The May release added five new questions to the FAQs, many of which are based on questions and comments received on the draft USQS. (June 30, 2022)
