Description: This session will cover recent developments in paid family and medical leave (PFML) insurance in the US. We will provide an overview of existing and new PFML laws in states that have adopted leave legislation, and we will discuss the private insurance options in these states. In addition, we will provide an overview of PFML insurance offerings in states that have not passed leave laws, and we will discuss recent trends in PFML claim experience.

Description: It's your first full day of productive learning! Start it off right with a delicious breakfast and warm welcome.

Description: Disability and group life products can pose challenges for the valuation actuary due to the long-tail runout of traditional disability and group life waiver of premium claims, and due to the sensitivity of the reserves to small changes in assumptions. This session addresses a number of issues of interest to actuaries who work with these products, including recent experience trends and the new 2023 Group Life Waiver Valuation Table. Attendees will learn about best practices in the valuation of these products.

Description: How does where you live impact your health? The following research considers this question through the lens of social determinants of health (SDOH), which are factors relating to where you live or work that may impact your health. In the United States, there are geographical differences in SDOH which contribute to wide disparities in health status and outcomes. In particular, individuals who are negatively affected by SDOH may have an increased burden of disease, leading to a relatively high total cost of care and worse quality of life.

Description: The session is based on an article of the same name featured in the January, 2023 issue of Health Watch. It gives a step-by-step method of how to apply the average paid PMPM method to calculate IBNR with zero run-out, as opposed to current methods, which generally require a three-month run-out period. Methods for obtaining confidence intervals for the IBNR estimates will also be discussed.

Description: Explore the role of inflation across health products, including medical plans, disability, and long-term care. Explore various drivers of cost trends, wage increase, and cost of care. Understand their role in the pricing and valuation of a product and how to manage the risk.

Description: This report is targeted to actuaries that are interested in identifying the adverse human health outcomes resulting from anthropogenic climate change. This is accomplished by providing a detailed framework to evaluate the impact of extreme heat on human health and identify the role that anthropogenic climate change has on extreme heat events. Although this document is designed around extreme heat, the concepts can be expanded to other climate-related events. As the primary focus of actuarial research is to promote human health and minimize the preventable economic burden, this document also provides recommendations to mitigate against excess heat related illness (HRI) due to extreme heat.

Description: A divisive confrontation over health care pricing is almost inevitable over the next few years. What will ultimately happen is a political decision, not an actuarial one—but it will have major consequences for the trend in health care costs and the divergence between public and private insurance premiums.

Description: As actuaries, we're trained to see patterns in numbers and to design solutions that mitigate risk. While quantitative analysis and modeling are critical actuarial tools, looking at the numbers alone can lead to insurance products that don't succeed in the real world the way math says they should. With new digital technologies surfacing in the insurance space, we have more data at our fingertips than ever before, leading to a higher focus on doing quantitative research within insurance product design. Take back a step from quantitative research and discover qualitative research methodologies into your product development process to design solutions that meet real needs in the market. In a nutshell, qualitative research can surface issues early and help you answer questions such as: Can we really sell this product in the market? Why would someone buy this? How widespread is the need? How could your product be a solution you didn't intend?

Description: Pharmacy prices are top of mind for many consumers, policymakers, and payers. There are many proposals out there about ways to reduce pharmacy costs, almost all of which involve price controls. Is that the right move? What about the unintended consequences of such regulation? Will fewer life-saving drugs be developed including fewer drugs that improve the quality of life? Are better financing alternatives out there? Explore the concept of value-based reimbursement for pharmacy prices, including the lessons learned from applying value-based concepts to hospital and physician value-based financing.