SOA Webinars

Application of Behavioral Finance Theories to Health Care Webcast

This webcast features a discussion of behavioral finance theories and their application to health care and health insurance issues. Behavioral finance theories have been used to add value to health actuarial analyses where classical economics have provided insufficient clarity and explanation. Three practicing health actuaries will explain various behavioral finance theories and how they applied them to develop more robust solutions to traditional actuarial analyses.

Topics to be discussed include:

• The application of basic economic concepts such as supply and demand, price elasticity, and the decoy effect to health care
• The financial impact of consumer choice and consumer decision support tools in the health insurance marketplace
• Employee health plan selection in a multi-choice environment

If you are interested in adding to your actuarial toolbox and gaining a deeper understanding of the behavior of participants in the health care system and health insurance markets, you will not want to miss this webcast.

ASOPs 5 and 42: The Recent Updates You Don’t Want to Miss Webcast

The Actuarial Standards of Practice (ASOP) are important for identifying what actuaries should consider, document and disclose when performing actuarial services. The presenters at this session will discuss two of the ASOPs pertaining to the areas of health and disability financial reporting. Specifically, we will focus on ASOP 5: Incurred Health and Disability Claims and ASOP 42: Health and Disability Actuarial Assets and Liabilities Other Than Liabilities for Incurred Claims. Both of these ASOPs have undergone revisions recently, and we will review the main concepts in these standards, as well any notable changes from the current revisions.

At the conclusion of this session, attendees will gain a better understanding of these standards of practice, including:

• Their purpose and scope
• How these standards apply to them
• The recommended practices for estimating and reviewing both incurred claims as well as actuarial assets and liabilities, other than liabilities for incurred claims

Any significant revisions made to these standards recently, including:

• The incorporation of references to newer standards
• The elimination of guidance that does not conform to current ASOP practices
• The addition and updating of definitions to be more consistent to other standards of practice
• The revision of these standards to reflect relevant legal, regulatory, and practice developments

Potential Impact of Pandemic Influenza on the U.S. Health Insurance Industry

Jim Toole, FSA, MAAA, discuses SOA research he performed on the potential impact of a pandemic on the U.S. health insurance system, including issues with capacity and at-risk populations. He also offers ideas on how actuaries and their employers can partner and provide assistance to their communities, providers and others in the front lines.