Keeping You in the Know—Recent Academy Activity, Jan. 17–21, 2022
Life and Health Valuation Law Manual Available
The Academy’s Life and Health Valuation Law Manual is available online for immediate access. Updated for 2022, the manual contains information to help appointed actuaries and others know the requirements of the National Association of Insurance Commissioners (NAIC) model Standard Valuation Law and the model Actuarial Opinion and Memorandum Regulation. Place your order today.
Casualty Members: Don’t forget the P/C Loss Reserve Law Manual is also available for purchase and immediate download. Learn how you can order your copy today.
Your Spot Awaits—Register for Next Week’s Pension, Life Webinars
Space is still available for next week’s webinars presented by the Pension Practice Council (PPC) and the Life Practice Council (LPC). Continuing education credit will be available.
What will be covered?
The PPC’s “Funding Public Pension Plans—Theory and Practice” will highlight lessons learned, including in the Academy’s The 80% Pension Funding Myth issue brief; explore prudent funding practices; and explore considerations being made in the management of “surplus.” The webinar will be held on Tuesday, Jan. 25, from noon to 1:30 p.m. EST. Register now.
The LPC’s “Life Practice Public Policy Update” will examine mortality improvement; COVID-19 mortality as it pertains to Social Security; C-2 mortality; and a VM-50/VM-51 update. The webinar will be held on Wednesday, Jan. 26, from noon to 1:30 p.m. EST. Register now.
Spread the Word—Academy-Sponsored Diversity Scholarships Available for Drake Symposium
Academy members are encouraged to share with actuarial students that April’s Drake Symposium on Insurance, which focuses on insurance and actuarial science, is offering six Academy-sponsored diversity scholarships. Current university students of under-represented backgrounds interested in the actuarial profession are encouraged to apply. Recipients must be available to travel to Des Moines, Iowa, from April 8 to 10. The deadline to apply is Feb. 15; for more information, click here.
James Participates in Health Policy Forum
Health Equity Work Group (HEWG) Chairperson and Academy Board member Annette James took part Friday in the Health Policy Roundup: Recent Trends in Coverage Enrollment and Affordability, an online forum hosted by the Alliance for Health Policy where she focused on what actuaries do, premium development, current trends in the health “ecosystem,” and the considerable work of the Health Equity Work Group.
Reminder: The HEWG has an active request for information soliciting input to its work assessing whether and how health actuarial practices and methods affect health disparities. The deadline to respond is Feb. 15; learn more on how to share your input here.
GAO Seeks Nominees for Advisory Committee
The U.S. Government Accountability Office (GAO) issued requests for nominations to serve on two health policy-related federal commissions. One is for nominations to the Medicaid and Children’s Health Insurance Program (CHIP) Payment and Access Commission (MACPAC); nominations are due by next Thursday, Jan. 27. See GAO’s Federal Register notice for more information. The other is for nominations to the Medicare Payment Advisory Commission (MedPAC); nominations are due by Feb. 11. See the GAO Federal Register notice for more information. Self-nominations are accepted for both commissions.
Public Policy in Focus
The Health Solvency Subcommitteesubmitted a report to the NAIC’s Health Risk-Based Capital (E) Working Group regarding the working group’s request of the subcommittee to conduct a comprehensive review of the H2—Underwriting Risk component and managed care credit calculation in the NAIC’s health risk-based capital formula.
Learn more about how the Academy’s public policy efforts support the profession, our members, and the public.
Plan Sponsor reported on the Academy’s issue brief on retirement plan "decoupling,” or shifting retirement plan responsibilities and related liability from employers to a third-party entity. The article, which was reprinted by Plan Adviser, extensively quoted Academy Retirement System Assessment and Policy Committee Chairperson Claire Wolkoff.
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