Eric King, Conductor
Tuesday, May 2, 2017
9:30 a.m. PT/ 10:30 a.m. MT/ 11:30 a.m. CT/ 12:30 p.m. ET
Duration: 1 hour
The mission of the Health Actuarial (B) Task Force is to identify, investigate and develop solutions to actuarial problems in the health insurance industry.
The Health Actuarial (B) Task Force will:
Work with the American Academy of Actuaries (Academy) and the Society of Actuaries (SOA) to develop a replacement for the 1985 NAIC Cancer Claim Cost Tables as the basis for the valuation of individual cancer policies. Request the Health Insurance Reserves Model Regulation (#10) be opened to accommodate the new table.
Provide recommendations, as appropriate, to address issues and provide actuarial assistance and commentary with respect to model rules for appropriate long-term care insurance (LTCI) rates, rating practices and rate changes.
Study the minimum standards applicable to statutory reserves for LTCI. Ensure Model #10 remains open to accommodate any necessary changes to the standards. Begin developing a principle-based framework for a set of minimum standards.
Provide support for issues related to implementation of the federal Affordable Care Act (ACA).
Begin to develop health insurance reserving requirements (VM-25, Health Insurance Reserves Minimum Reserve Requirements) using a principle-based reserving (PBR) methodology. LTCI should be a priority. Request Model #10 be opened to accommodate the new requirements.
Develop LTCI experience reporting requirements in VM-50, Experience Reporting Requirements, and VM-51, Experience Reporting Formats, of the Valuation Manual.
Provide recommendations, as appropriate, to address issues and provide actuarial assistance and commentary to other NAIC groups relative to their work on health actuarial matters.