Description: When designing and pricing a healthcare product, it is not only important to know how to model frequency and severity, but it is essential to understand human behavior. Of course, the issue of anti-selection in medical insurance is well known as individuals know more about their health and prior expenditures than an insurer does. This type of behavior is certainly rational, and to be expected.

Description: Inspired by other financial savings products available to Canadians, this article describes a potential solution for financing future health expenses with the creation of a Registered Health Savings Account (RHSA). This solution has been thought on the basis of four premises : 1- Individual Accountability for Health Expenses; 2- Early Savings Leads to More Accumulation; 3-PreferredTax Treatment for Personal Health Savings; 4- Complementing current public and private health systems; Main elements of the RHSA are described (Contributions, Accumulation, Utilization of account, Management by financial institutions).RHSA'S expected balances and some other results under three scenarios (a person in good health, one in poor health, and one with unexpected death at age 45) are summarized in a table. Health expenses deducted yearly from RHSA's balance were estimated using total, per capita, provincial government health expenditures by age-band for Canada, in 2020, from the Canadian Institute of Heath Information’s (CIHI), which account for 71.8% of total expenditures, that is public + private. Thus 28.2% of total expenditures were used for private health expenditures, then forecasted to 2024 and projected using a 4% annual trend. Some objections to the solution explored were anticipated as well as some refutations to these objections.

Description: As the new VM-22 framework reshapes reserving for non-variable annuities, actuaries face both opportunities and challenges. Our latest insight and highlights what you need to know about assumption setting, model validation and asset optimization ahead of 2026.

Description: Delve into the nexus of actuarial science in the heart of D.C. This session offers an in-depth look at the sophisticated mechanics behind additional health insurance reserves, framed by the unique regulatory landscape of national policy. As we explore premium deficiency reserves and additional reserve requirements, attendees will understand how regulatory oversight and frameworks influence these critical actuarial items. Through engaging discussions and case studies, we'll uncover the strategic intersections between actuarial decisions and policy implications, offering insights into effectively navigating the complexities of governance and regulation as they relate to additional health insurance reserve. Join us for a compelling journey through the art and science of actuarial work in the political arena.

Description: In this session, we will discuss best practices in ALM and Strategic Asset Allocation (SAA) modeling approaches to account for the complex relationships between insurance liabilities and the portfolios backing them. We will highlight how robust modeling techniques not only result in optimal asset decisions from a long-term value perspective but can also result in better capital efficiency. At the conclusion of this session, attendees will be able to identify the key aspects of a successful ALM and SAA framework for liabilities subject to PBR.

Description: In this session, we will review how the previous and current concerns of pharmacy actuaries will affect the forecasting and review of upcoming pipeline events. After this session, attendees will have a broader understanding of the implications of what is coming next in the pharmacy pipeline and how they can be thinking about it.

Description: As health insurance self-funding becomes more popular among smaller group sizes, risk is evolving for the MGUs, stop loss writers, and reinsurers that cover them. Assessing more small groups at lower attachment points means rethinking traditional stop loss underwriting techniques.

Description: Session 4F: Clear as Mud - The Impact of Price Transparency

Description: With a quickly changing set of actuarial tools and practices emerging through artificial intelligence, technology regulations, Actuarial Standards of Practice, and more, it’s important to learn and discuss how to maintain professionalism in actuarial work and in consideration of the SOA Code of Conduct. Come to this session to learn about a variety of emerging topics, discuss case studies, and interact with other attendees to share your perspectives on maintaining a professional approach to valuation topics.By attending the session, you will be able to:· Apply actuarial professionalism concepts.· Identify key ASOPs and Code of Conduct Precepts for actuaries.· Learn about statistical methods and bias.

Description: This session will delve into the results of a recent industry study exploring dynamic lapse behavior over the past five years in U.S. insurance products with general account credited rate-type features.