Description: The author is a recent FSA (2018). As a career changer from academia with no actuarial exposure prior to attempting the first exam at almost 30, the author offers a compelling set of insights gained through his CERA and FSA qualification processes. The advice presented not only covers exam tips helpful for candidates at all levels, but also provides perspective for those who are considering the rewarding career path of being an actuary.

Description: This is the second in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at GAAP, as amended by LDTI, as if there were no precedent, specifically focused on products that require net premium reserves. With possible objectives for compliance, performance, and simplicity, it describes calculation techniques that could achieve all three objectives for a variety of long-duration reinsurance contracts.

Description: On average, contracts receiving their first star rating receive 3.20 stars, compared to existing or established contracts receiving 3.90 stars on average. This 0.70 disparity in quality ratings creates significant hardship on new contracts when this lower star rating decreases their payments in the following calendar year. This article explores the disparity in Medicare Advantage Star Ratings between contracts receiving their first star ratings (“New” contracts) and existing contracts, including: 1. Understanding what happens to Medicare Advantage Payments when contracts receive lower star ratings? – What is the Star Rating cliff and why does it matter to new contracts? 2. Explaining when a contract receives their first star rating and how much enrollment this requires – When does the Star Rating cliff occur? 3. Noting which specific star measures “New” contracts struggle with, including those contracts under large parent organizations, contracts with rapid growth, and all other new contracts. – How can my contract avoid the Star Rating cliff?

Description: Interview of people knowledgeable about risk adjustment and the use of social determinants of health with that context for Medicaid.

Description: SOA interview with David Axene

Description: Read the February 2020 issue of Health Watch, published by the Health Section. Practical information for actuaries, articles impact sections, section activities.

Description: The IAA has published a textbook-sized monograph on implementing risk adjustments under IFRS 17. This monograph will be helpful to those calculating the risk adjustment and those who want to know what the risk adjustment represents and how if affects period to period reporting.

Description: Family members who care for people with dementia need a wide range of support services to help them do the important work of care giving at home.

Description: As the topic of affordable long-term care (LTC) insurance comes into focus in political conversations, we often find ourselves thinking, “What is going to happen to the private LTC insurance industry going forward?” The need for LTC in the United States is not going away, especially as the population continues to age. With this in mind, this article explores three possible future paths for LTC insurance funding and the associated implications for the private LTC industry.

Description: Feature article discussing how technology can speed up and improve the accuracy of the the underwriting process. The distinction between rules and guidelines is discussed.