Public Policy News

Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter pertaining to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition. (February 15, 2019)
Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter to the Casualty Actuarial and Statistical (C) Task Force (CASTF) to the CASTF 's draft qualification and related documentation requirements and copy of a letter to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.
(February 15, 2019)
The Life Illustrations Work Group updated their 2018 practice note to reflect implications from the 2017 passage of the Tax Cuts and Jobs Act, pertinent to ASOP No. 24.  (February 15, 2019)
The Role of the Actuary Subgroup sent a comment letter to the Variable Annuities Capital and Reserve (E/A) Subgroup on the use of the terms "actuary" and "qualified actuary" in draft revisions to VM-21.  (February 13, 2019)
The LTC Practice Note Work Group published an exposure draft of a practice note to provide a source of information to practicing long-term care (LTC) actuaries seeking to better understand the considerations in evaluating experience, setting assumptions, valuation, and financial reporting. (January 31, 2019)
The Life Reinsurance Work Group provided comments to the NAIC's Life Actuarial (A) Task Force regarding the possible impact of varying interpretations of current VM-20 guidance for determination of future nonguaranteed yearly renewable term reinsurance rates.  (January 31, 2019)
The PBR Assumptions Resource Manual Work Group released a step-by-step, sample framework for setting, updating, and governing life insurance assumptions for PBR and other valuation frameworks.  (January 29, 2019)
Academy Senior Property/Casualty Fellow Rich Gibson submitted comments to the NAIC's Casualty Actuarial and Statistical Task Force (CASTF) regarding CASTF’s proposed white paper on Regulatory Review of Predictive Models. (January 22, 2019)
The Life Principle-Based Approach Practice Note Work Group released an updated version of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations.  (January 17, 2019)
The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note. (January 16, 2019)
The Medicaid Subcommittee submitted comments to CMS regarding a proposed rule that would make changes to the Medicaid and CHIP managed care programs. (January 14, 2019)
The Role of the Actuary Subroup submitted a comment letter to the NAIC suggesting that the definitions and guidance related to the various forms of actuarial opinion in VM-30 could be clarified.  (January 10, 2019)
The Life Reserves Work Group submitted a comment letter regarding credited amounts for indexed accounts in the calculation of the Deterministic Reserve (DR), outlined in amendment proposal form (APF) 2018-44 to the Life Actuarial (A) Task Force.  (January 2, 2019)
The Retirement System Assessment and Policy Committee submitted a comment letter to the Department of Labor on the Definition of Employer under Section 3(5) of the Employee Retirement Income Security Act (ERISA). (December 21, 2018)
Academy Pension Vice President Josh Shapiro submitted a comment letter to U.S. House leaders on The Retirement, Savings, and Other Tax Relief Act of 2018. (December 20, 2018)
The Individual and Small Group Markets Committee submitted comments on the October guidance from the Department of the Treasury and the Department of Health and Human Services on State Relief and Empowerment Waivers under Section 1332 of the Affordable Care Act, focusing on three areas: evaluation of coverage comprehensiveness and affordability, evaluation of coverage, and waiver funding. (December 18, 2018)
The Intersector group released the notes of its April 2018 meeting with the Treasury Department and Internal Revenue Service.  (December 18, 2018)
The Health Practice Council submitted a letter to the Centers for Medicare and Medicaid Services (CMS) in response to its request for comments on proposed rules pertaining to the Medicare Advantage (MA) program, including provisions to revise the risk adjustment data validation (RADV) payment error calculation methodology and process. (December 17, 2018)
The Health Practice Employee Benefits Committee and Individual and Small Group Market Committee submitted comments on the proposed rule regarding Health Reimbursement Arrangements (HRAs), that would create two new types of HRAs—Integrated HRAs and Excepted Benefit HRAs—which would allow employers to provide HRAs that could be used to pay for individual plan premiums and out-of-pocket health costs. (December 13, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter outlining their proposal for a NAIC life insurance online guide landing page.  (November 28, 2018)