NAIC Health Risk-Based Capital Working Group Meeting Report: October 10
Oct 14, 2008
On Friday, October 10th, 2008, the National Association of Insurance Commissioners (“NAIC”) held a Health Risk-Based Capital (E) Working Group Meeting. The NAIC, through its Health Risk-Based Capital (“RBC”) Working Group has asked the American Academy of Actuaries (“AAA”) Medicare Part D RBC Subgroup for a recommendation as to whether the RBC factors for Medicare Part D should be changed, effective 2009. The agenda included the status of the AAA projects including the Stop Loss Report, Medicare Part D Factors and the RBC Trend Test. To view the complete meeting agenda, click here.
NAIC staff liaison Crystal Brown called the meeting to order with a quorum of members in attendance.
Key attendees included:
- Dennis Julnes, Chair – Washington
- Lou Felice – New York
- Steve Johnson – Pennsylvania
- Steve Ostlund – Alabama
- JoBeth Stephenson – Texas
- Dianna Pell – American Academy of Actuaries
- James Braue – American Academy of Actuaries
- Karl Madrecki – American Academy of Actuaries
- Crystal Brown, NAIC Staff Liaison
- Representatives of Various Interested Parties
Dianna Pell, AAA, provided a brief status of pending actuarial projects. The RBC factors are being reviewed and re-modeling will be completed.
James Braue, AAA, provided an overview of the analysis that the AAA will be conducting to determine if the RBC factors for Medicare Part D should be changed to become effective 2009. The analysis will be based in part on historical data and information gathered from a survey of carriers that are writing Medicare, Part D business. For a complete copy of the survey, click here.
The meeting concluded with a discussion of the AAA’s Health Trend Test Work Group’s report on proposed Health RBC Trend Tests. For the complete Report to the NAIC Health RBC (E) Working Group, click here. To view the health trend test page, click here. For the Trend Test draft instructions, click here.
The Working Group had no further matters for discussion.
The meeting was then adjourned.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
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