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The recent changes and regulations have required changes in the ways actuaries price commercial products, specifically in the individual and small group markets. This boot camp session will consider what we did prior to the Affordable Care Act (ACA), in the recent years since the start of most provisions, and then how to use this recent experience to project premiums into future periods. New approaches and tools are needed to price policies in this new environment. Pricing will need to consider risk adjustment, guaranteed issue, risk selection and limitations on factors allowed in pricing. Rate filing requirements are different as well. This session will also discuss recent changes in the marketplace, solvency requirements and recent changes in regulation.
For large group rating, presenters will review topics such as minimum value, Cadillac tax issues, expanding coverage to workers with less than 40 hours, high deductible health plan designs and their impact to selection and cost savings. We will also compare and contrast fully insured, self-funded, and level funded coverage. This boot camp will also include an hour focused on relevant Actuarial Standards of Practice (ASOPs) and professionalism issues.
This will be a technically advanced program focused specifically on pricing.