The Health Practice Council gave a briefing on Capitol Hill to policymakers and congressional and federal agency staff, offering expertise on the drivers of growth in drug expenses; benefits versus costs for new treatments; the impact of high and increasing prescription drug costs on payers; and options to address spending. Read the news release. (March 08, 2018)

The Prescription Drug Work Group published an issue brief highlighting prescription drug issues present in our health care system, including cost drivers, the effect on various stakeholders, and possible approaches that might help address the health care cost growth associated with prescription drugs. (March 06, 2018)

The Individual and Small Group Markets Committee sent comments to the U.S. Department of Labor on proposed rules regarding the definition of ‘‘Employer’’ under section 3(5) of ERISA—Association Health Plans. (March 04, 2018)

The AG43/C3P2 Work Group submitted a comment letter to the NAIC's Variable Annuities (E) Working Group on proposed modifications to Actuarial Guideline XLIII (AG43) and C-3 Phase II (C3P2).  (March 01, 2018)

The Health Practice Council sent comments to the Idaho Department of Insurance on allowing health insurers to offer state-based plans that are not compliant with the Affordable Care Act in Idaho.  (March 01, 2018)

The High-Performance Network Work Group of the American Academy of Actuaries has released a new issue paper, High-Performance Networks. Drawing on recent public policy debates about addressing health care spending, this paper explores the expansion of high-performance networks (HPNs) which generally focus on delivering high-quality and efficient care, as a potential solution. (February 26, 2018)

In “Disclosure: The Cornerstone of the ASOPs’ Strength,” Actuarial Standards Board (ASB) Chairperson Beth Fitzgerald outlines the ASB’s process in developing actuarial standards of practice (ASOPs) and the ASB’s role in what disclosures actuaries will need to make to comply with an ASOP, and specifically notes the importance of ASOP No. 41, Actuarial Communications. (Actuarial Update, February 2018) (February 27, 2018)

The February Actuarial Update covers the Academy’s new issue paper on how high-performance networks can potentially reduce health care costs while boosting efficiency and quality of care. Also in this issue: Annual acknowledgment of the Academy’s conflict of interest policy and continuing education attestation is due; Multiemployer Plans Committee members discuss multiemployer pension plan issues with the Pension Benefit Guaranty Corporation; an outline and explanation of the Academy’s revised meetings policy; and in the “Professionalism Counts” column, Actuarial Standards Board Chairperson Beth Fitzgerald outlines core disclosure obligations related to actuarial standards of practice. (February 28, 2018)

The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the revised draft for the Life Insurance Buyer's Guide.  (February 21, 2018)

The Life Reserves Work Group submitted an APF to the NAIC Life Actuarial (A) Task Force on potential changes to VM-20 on the aggregation of mortality segments for the purpose of determining credibility.  (February 20, 2018)