Description: In 2014 several aspects of the ACA are driving the need for valuation actuaries to consider establishing payables or receivables during 2014 or at year-end. These programs include the 3Rs (risk adjustment, reinsurance and risk corridors) on insurers’ financial statements. As each of these programs includes a retrospective settlement process, financial statements may need to include estimates of amounts payable or receivable. The health insurance providers (HIP) fee and cost-sharing reductions (CSRs) and their potential impacts on insurer financial statements also need to be considered. The Society of Actuaries Health Section Council and Financial Reporting Section Council jointly developed a survey to gauge how actuaries are progressing with respect to these new potential assets or liabilities. The survey was sent to the members of the Health Section and the Financial Reporting Section. This article summarizes the results of that survey.

Description: The Society of Actuaries Health Section Council and Financial Reporting Section Council jointly developed a survey to gauge how actuaries are progressing with respect to new potential assets or liabilities creaated by the Affordable Care Act. This article summarizes the results of the survey

Description: Preparing an effective actuarial memorandum in support of the health actuarial opinion.