Description: Table of Contents for the May 1999 Spring meeting of the Society of Actuaries

Description: This session will discuss the existing and potential tax-favored opportunities for LTC insurance. It will use non-actuarial and actuarial tax experts to discuss the existing (and potentially non-controversial legislative possibilities) to deal with the impending societal issues associated with the baby boomers progressing towards a tidal wave of long-term care needs that will mostly be funded through a Medicaid system that will be unable to deal with it.

Description: Traditional Medicare [TM] has many coverage gaps and no out-of-pocket maximum. Most members must purchase a Medicare Supplement Plan and a Part D plan for pharmacy coverage. Over 50% of members have opted for a Medicare Advantage [MA] plan that replaces TM and the need to purchase a Supplement and (in most cases) a Part D plan. All this for less cost to the member, but at a greater overall cost to the federal government even though MA plans provide TM benefits for less than it costs the government. The attendee will learn why this occurs. However, given these facts, the focus of the session will be on the future of Medicare: namely, should the parameters regarding MA bids and payments be limited to what is paid for TM, or can we take the best administrative techniques of MA and TM to provide more robust benefits for all Medicare members at a cost no greater than the government is currently paying? Or is there an even better idea?

Description: There are a variety of regulatory changes that are being contemplated by the National Association of Insurance Commissioners (NAIC) that have the potential to materially impact actuarial, statutory reporting and disclosure requirements relating to reinsurance. This session will provide an introduction to these changes, explaining both the motivation as well as the potential impact these proposed changes may have on US ceding companies. The focus of the presentation will be primarily on changes affecting Asset Adequacy Testing and statutory risk transfer for combination Coinsurance / Yearly Renewable Term agreements. An update will be provided regarding industry responses to proposed changes and the potential timing for implementation of these new requirements.

Description: How are regulation and innovation intertwined? How do we regulate AI/ML in the insurance industry? We will cover how regulators are striking the balance between protection of their constituents and supporting innovation. We will zoom into the case of Predictive Analytics and the regulatory attempt at avoiding undue discrimination. Let's discuss what this really means.

Description: Prescription drug markets are undergoing rapid change - significant policy changes implemented through the Inflation Reduction Act, Congressional interest in long-awaited 340b reform, and a growing direct-to-consumer market have already changed the landscape significantly. The ongoing effects of these changes will continue to evolve for many years. Hear from leading prescription drug actuaries and pharmacy policy experts on what these changes mean for prescription drug markets and US healthcare more broadly.

Description: This session will focus on the topic of Bermuda Reinsurance: Operational Readiness for Changes. The presenters will examine the current state of the reinsurance industry in Bermuda and explore the operational strategies that companies must consider to stay ahead in a rapidly evolving market. The discussion will cover regulatory updates, and market shifts that are influencing the way reinsurance businesses operate. The presenters will also discuss operational capabilities and organizational structure to think about when designing a new entity.