Description: Inflation can impact retirement and retirees in a variety of ways. With inflation as a reality in the current economic environment, the Society of Actuaries Research Institute's Aging and Retirement Strategic Research Program has explored this issue in recently published research and essays. This webcast will present results of that work, sharing different aspects of inflation's impact on retirement including savings, investment choices and the impact on retirees themselves.

Description: This session will examine bias from a social science perspective. It will discuss the three types of systemic biases using the National Institute of Standards and Technology (NIST) model. The NIST model details the three types as historical bias, societal bias, and institutionalbias. The session will also provide several examples of each type to provide a framework for identifying the social structure of bias.

Description: Among the many impacts of the Inflation Reduction Act’s redesign of Medicare Part D will be a change in Part D cash flows. Plan sponsors have always had to balance the seasonality of prescription drug costs against reimbursement at various times from monthly subsidies, risk score true-up payments, rebates, manufacturer contributions, and CMS settlements, but the IRA is changing the pattern of cash flows in 2024, 2025, and beyond. Moreover, the risk-adjusted portion of CMS revenue is likely to grow in 2025, even as the Part D risk score model changes.

Description: Generative AI has become a hot topic since ChatGPT became one of the most well-known Machine Learning models ever. There are many different generative models out there, and in this presentation, we explore the possibilities, benefits, reservations, and alternative use-cases of using Generative Adversarial Networks to generate health insurance claims data.

Description: Listen to pre-eminent healthcare actuaries present their pitch for how they'd fix US healthcare (whatever the pitch thinks 'fix' means) if they were supreme policy maker for a day. No idea is too big, and no healthcare actuary's dream is too small.

Description: The session will provide attendees with a framework of what goals to think about when building and utilizing a predictive modeling framework in New Sales and Renewal Underwriting mid-market, level funding, balance funding, and self-funding group health business.

Description: Session 4E: Sometimes The Second is Better than the First - Round 2 for the ACA

Description: Session 2H: Reinsurance Market Update

Description: Session 5D: Reflections on a Post-VBID World

Description: Deciding where to spend that next dollar of capital is at the heart of financial management. Executive teams regularly grapple with decisions on whether to purchase a new Enterprise Resource Planning (ERP) system, invest in growing a distribution channel, expand into a new geographic area, or develop a new product, among many. The great news is there is no shortage of sound financial theory and logical rationale for making these transformational decisions. Yet business literature is filled with examples of decisions that did not meet expectations, sometimes materially missing the mark when comparing experience to assumptions. This is particularly the case with mergers and acquisitions, where multiple studies have shown that a sizable majority of such transactions do not achieve their intended outcomes. While some of the disappointing returns are attributable to random chance and unfortunate circumstances, a material number of them can be traced back to cognitive issues that arose during the decision-making process. Mental shortcuts or heuristics taken by individual decision-makers in evaluating information, as well as organizational dynamics such as groupthink both contribute to sub-optimal choices involving significant outlays of money. Being aware of these and having established protocols to mitigate against them can substantially improve decision-making around capital allocation and reduce misallocation of funds. In this session, the panelists discuss several common cognitive biases that can adversely impact the capital allocation decision process, introducing the notions of time, accounting convention, positivity, hierarchy, and social proof in describing them. Historical case examples of sub-optimal capital allocation are then explored, identifying the contributing behavioral factors including the simultaneous confluence of multiple factors. The panelists will close the session with several suggestions for attendees to consider for incorporation into their decision-making processes. At the conclusion of the session, attendees will be able to: - Learn common cognitive biases that impact capital allocation decisions - Differentiate which biases impact different aspects of the capital allocation process - Build awareness of biases affecting capital allocation decision models - Mitigate cognitive biases present in decision making processes