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Read the latest news from the Academy.
Work Group Submits Comment Letter to NAIC Life Actuarial (A) Task Force and Indexed Universal Life (IUL) Illustration (A) Subgroup
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.
Health Practice Area Comment Letter Submitted to the Center for Consumer Information and Insurance Oversight (CCIIO) on Cost-Sharing Reduction Premium Load Factors
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.
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.
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Social Security Committee Releases Issue Brief on Social Security Reform: Benefit Formula Options
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.
Social Security Committee Releases Issue Brief on Social Security Reform: Taxation Options
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.
Health Care and Health Insurance System Risk Assessment and Risk Adjustment in the Context of Health Equity
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.
Health Equity Committee Comments to CMS on Medicare Advantage
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.
Work Group Submits Comment Letter to NAIC Index-Linked Variable Annuity (A) Subgroup
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.