Description: This study was sponsored by the Society of Actuaries Health Section. This paper explores the relative significance of aging as a determinant of financial cost of health care beyond age 50, with particular attention to the effect for ages 65 and older. The paper presents concepts of aging factors and aging curves, which define relative values between ages for utilization or cost of health care services. General conclusions are drawn from Medicare data that utilization and cost differ by age, but that aging factors vary across services and may be less significant at very old ages. The author then turns to the question of measuring the significance of an aging curve assumption and what accuracy is lost in the simpler alternative of a single value across an age range.

Description: Appendix to the Critical Review of Stochastic Simulation Literature and Applications for Health Actuaries. The Development of a Simulation Model of Primary Prevention Strategies for Coronary Heart Disease

Description: Recaps the evolution of VA products and hedging programs. Reflects on strategic considerations that contributed to relative performance in this market.

Description: Discusses the current controversy with the NAIC over Small Face Amount Policies, SFAPs.

Description: The decrease in interest rates over the last several years has led to decreases in the maximum valuation rate and maximum nonforfeiture interest rate, and companies need to prepare for these changes.

Description: Written from a regulatory perspective, the article covers the purpose of regulation and some regulatory expectations. The topics include the appointed actuary's involvement in corporate governance, reasonability of results when compared to prior results, data quality, familiarity with the company's annual statement and applicable statutes, and areas where appointed actuaries can add value though services provided to smaller life insurance companies.

Description: Introducing the Respresentative Scenarios Method, the Motivation and Goals, how the methodology works, and what key information can be derived.

Description: Review of modeling of impact of proposed GAAP changes and commentary on preparedness based on company survey.

Description: This article summarizes recent proposed changes to the Valuation Manual that might take effect for 2019 valuations for PBR business.

Description: Implications of Consumer-Driven Health Care to consumers, employers and providers Issue No. 37.