Description: In the U.S., the insurance industry is regulated by the individual states. Learn more about the National Association of Insurance Commissioners (NAIC), which reviews and proposes model laws and assesses emerging issues.

Description: This session will be centered around the roles and responsibilities of a valuation actuary. Learn the best practices of health actuaries, along with technical considerations and professionalism issues surrounding the calculation and reporting of health liabilities and reserves. This session will focus on key actuarial liability and reserve provisions, including Claims Unpaid and Premium Deficiency Reserves. In this session, explore new ideas about calculation methods and the importance of the underlying assumptions. You will also learn best practices and practical applications concerning reserve calculation discuss best practices regarding the preparation of an actuarial memorandum supporting a Health Annual Statement. This will include key considerations from the American Academy of Actuaries' Practice Note about documenting and supporting the actuarial calculations. The discussion will also present views and considerations from both the insurer's and the regulator's perspectives.

Description: Climate change will lead to an increase in the frequency and severity of many weather-related hazards. In turn, these hazards will impact health outcomes for individuals. Explore examples of this connection with a climate scientist, including how the increase in wildfire severity in the western U.S. is expected to drive a 40% increase in organic carbon aerosols by 2050 and howheat stress will impact vulnerable populations and workers in non-air-conditioned environments. Investigating these relationships will increase literacy on disproportionate impacts of climate change-related health outcomes. Presenters will illustrate the disproportionate impacts by geographically analyzing climate change signals and comparing them with socioeconomic data. Last but not least, you will learn about the evolution in both voluntary and required disclosures for payors and the landscape of why understanding climate risk is relevant for many payors.

Description: "Spread pricing is a pricing methodology where pharmacy benefit managers (PBMs) bill a payer one price but reimburses the dispensing pharmacy a lower price for the same prescription drug. PBMs have historically relied on spread pricing as a revenue source. However, a growing number of states are introducing and passing legislation prohibiting spread pricing for Medicaid and commercial clients. In addition, new entrants to the PBM and mail-order pharmacy space are disrupting the market by offering services that promote increased transparency and member satisfaction. Expect updates on recent legislative trends and market disruptions targeted towards increasing PBM drug pricing transparency. By attending this session, you will have a better understanding of how changing legislation and market disruptions may impact current pricing methodologies."

Description: 2021 ImpACT Conference - Session 1D: Reserved Roles for Actuaries in Defined Contribution Plans 10.25.21 Recording

Description: The Special Financial Assistance (SFA) program included in the American Rescue Plan Act (ARPA) will provide grants to some of the more troubled multiemployer plans. While this is a welcomed relief for many multiemployer plans facing insolvency, plenty of challenges remain in the implementation of the funds and ability to maintain solvency after the SFA funds are fully utilized. Explore the challenges and opportunities from the pension relief provisions.

Description: Read the June 2020 issue of Taxing Times published by the Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: The Funds Rate Target and Interest Rates by Daniel L. Thornton from Risks and Rewards Newsletter, April 2000, Issue No. 34. The close relationship between short term rates and the Federal Reserve's target for funds rate has led many observers to conclude that the Federal Reserve has considerable ability to influence short-term rates.

Description: As the topic of affordable long-term care (LTC) insurance comes into focus in political conversations, we often find ourselves thinking, “What is going to happen to the private LTC insurance industry going forward?” The need for LTC in the United States is not going away, especially as the population continues to age. With this in mind, this article explores three possible future paths for LTC insurance funding and the associated implications for the private LTC industry.

Description: This article summarizes information on the regulatory aspects of variable annuities, both federal and state, and offers thoughts on corporate structure, product, marketing and sales commissions.