An actuarial analysis of the Community Living Assistance Services and Supports Act (CLASS Act) by a joint work group of the Academy and Society of Actuaries was cited. The CLASS Act is a health care reform provision that proposes a federal long-term care program.

Comments by Steve Schoonveld, a member of a joint Academy and Society of Actuaries work group, were included in a report on the Community Living Assistance Services and Supports Act (CLASS Act), a health care reform provision that proposes a federal long-term care program. He said changes to the provision are in the right direction but that that there is still plenty of room for improvement.

On-air guests referred to the Academy's letter to Congress regarding the Community Living Assistance Services and Supports Act (CLASS Act), which included an actuarial analysis conducted by a joint work group of the Academy and Society of Actuaries. Scott Harrington, professor of health-care management and insurance and risk management at the University of Pennsylvania's Wharton School, said that the Academy had found that the premiums required to keep the program self-sustaining would be high and that most people will opt not to participate.

Academy Senior Pension Fellow Frank Todisco discussed how to protect against risks that could face retirees. Todisco said that "longevity insurance," which protects against the risk of outliving assets in retirement, can be obtained affordably by deferring the start of collecting Social Security benefits.

The Academy's Life Practice Council's Dec. 14 webcast on principle-based approach updates from the December 2009 National Association of Insurance Commissioners meeting was recapped along with comments made by panelists.

Steve Schoonveld, a member of a joint Academy and Society of Actuaries work group, said adverse selection issues with the Community Living Assistance Services and Supports Act (CLASS Act) will cause premiums to be exceptionally high.

Academy Senior Life Fellow Nancy Bennett wrote that actuarial principles should be an essential element for a new systemic risk regulatory framework. Bennett expanded upon this concept and provided an overview of the Academy's white paper, "Concepts for Successful Regulation of Systemic Risk."

Actuaries landed at the top spot of a newly released study ranking the 200 best and worst jobs in the U.S. The study was commissioned by CareerCast.com and the rankings were compiled by Les Krantz, author of "Jobs Rated Almanac."

The Academy was cited in an op-ed by Rep. Joe Courtney. The Academy noted that an excise tax on employer-sponsored health care coverage would more accurately target overly generous plans if it were based on plan benefits rather than a premium dollar threshold, because premiums are also based on other factors such as geography and age.