Description: After the bid process, desk review, rebate reallocation, an “enjoyable” audit, and open enrollment; the Medicare plan year starts. Throughout the year, organizations find it pertinent to get an accurate picture of their Part D liability as reinsurance, LICS (Low Income Cost-Sharing) subsidy, and risk corridors are accrued. Attendees will learn about the basics of Part D accruals, how future accrual amounts are estimated based on patterns in the data, and how bid assumptions versus actual results impact plan sponsor profitability. We will also discuss financial statement treatment of these items. Real-life examples from bids to outcomes will be provided to enhance the discussion. Ultimately, attendees will come away with a deeper understanding how their bid assumptions play out, and how they can use Part D accruals to plan for future bid development.

Description: This discussion at the 1989 Valuation Actuary Symposium by a Canadian regulatory panel covers reserves for AIDS, the impact of the proposed Policy Premium Method of reserving, and comments about the governmental examination process.

Description: This session at the 1989 Valuation Actuary Symposium looks at issues of the AIDS/HIV epidemic including the extra mortality, reserving options, a proposed actuarial standard of practice, and also covers the Canadian perspective.

Description: This session at the 1989 Valuation Actuary Symposium looks at issues created by changes in financial reporting in Canada related to the Policy Premium Method and dynamic solvency testing.

Description: This session at the 1998 Valuation Actuary Symposium looks at how companies can use the cash-flow testing structure for additional analysis and be more useful to the managment of the company. The concept of transfer pricing within a life company is explained.

Description: Tax code tidbits

Description: This is a compilation or risk management terms garnered from a survey of risk professionals supplemented with analysis of firm-level information on significant risks as reported in 10-K financial statements. Results indicate the existence of significance differences in terminology. The dominating pattern observed is a dichotomy between internal and external perceptions. Also observed is a difference between terms used by actuarial professionals and traditional risk managers.

Description: This paper reports on the findings of a working group established in 1999 by the SOA's Finance Practice Area to look at how the insurance industry measures and monitors risk through risk position reporting. Also the working group established industry standard practices in risk position reporting and reported on a number of areas for possible improvement in such reporting.

Description: This session at the 2003 Valuation Actuary Symposium reviews the actuarial aspects of GAAP accounting including methods and considerations of reporting under FAS 60, FAS 97, FAS 120, FAS 133 and Purchase GAAP. Examples and financial statement case studies are introduced.

Description: The purpose of this article is to explore the causes and effects of FAS 97 DPAC amortization revisions and to encourage the preparation of analysis that will assist in the interpretation and communication of results for management users of GAAP product line financial reports involving such revisions. From Society of Actuaries Financial Reporting Section Monograph, M-AS99-1.