Announcement: SOA congratulates the new FSAs for September 2024.
Announcement: SOA releases July 2024 Exams FAM, FAM-L, and FAM-S passing candidate numbers.
As health insurers analyzed early experience in Affordable Care Act (ACA) individual markets, bronze and gold premiums grew more rapidly than silver premiums from 2014 to 2017. Silver premiums and price-linked subsidies increased significantly in 2018 to account for the defunding of cost-sharing reduction payments, albeit at different magnitudes across states and much less than actuarial values suggest. States have recently passed laws to enforce ”community rating” and implement “focused rate review,” and new state guidance is clarifying rating rules to align metal level premiums with the anticipated expectations of a “single risk pool” rating approach. As premium relationships become more tightly regulated, pricing actuaries will need to adjust their current strategies which mitigate risk adjustment and selectively target competitive premiums at certain metal levels. This session will feature a panel of consulting actuaries, consumer advocates, and state regulators who will discuss the strengthening enforcement of rating compliance, state experiences navigating rating guidance transition, the new premium landscape in 2022, and the future implications for ACA markets.
Learning Outcomes:
Attend this session and you’ll be able to:
· Understand the changes in metal level premium relationships since 2014
· Identify how state regulators are addressing premium misalignment across the country
· Addressthe implications these changes will have on the future of pricing health insurance benefits, consumer value and enrollment distributions in ACA marketplaces.
Track: Safeguarding Populations
1.20 SOA CPD
1.00 CIA