Save the date for the evening of Thursday 9/19/2013 for our Annual Member Mixer! Details are stil being worked out, but you’ll want to be there! Start thinking of a prospective member or 2 who you would like to bring as your guest.
August Meeting Information
Tuesday, August 20, 2013, 11:30 AM
Hilton Orlando/Altamonte Springs
350 S. Northlake Blvd
Altamonte Springs, FL 32701
For the month of August, our program is a 1 Hour CE Course.
Group Life and LTD: An Actuarial Perspective
Presented by Matt Beatty, Employee Benefits Specialist with The Standard
In the course, Group Life and LTD: An Actuarial Perspective, students will gain a basic understanding of some of the pricing and reserve assumptions actuaries make regarding these products and the impact of those assumptions. Topics covered include the importance of interest rates in determining prices and reserves, how reserves are calculated, how aging affects Group Life pricing, comparing contributory and non-contributory LTD coverage and taxation of LTD benefits.
Matt Beatty has spent his working time since 2005 assisting brokers and employers with Group Life, Disability, Dental, and Vision insurance. He is a graduate of The University of Florida and resides in Tampa with his wife and their two cats. Currently, Matt is the 3rd Vice President and Education Chair of the Central Florida Association of Health Underwriters. He enjoys traveling, skeet shooting, and watching college football.
Green Beans & Carrots
Warm Rolls with Butter
Iced Tea, Water and Coffee
Lemon Coconut Cake
Vegetarian option available upon request. Please request with RSVP.
Lunch cost is $10 for Members and First time Guests
$35 for Guests.
RSVP for lunch by 2:00 PM on Friday 8/16 if you will be attending.
On Friday, just before Congress adjourned for August recess Representatives Tom Reed (R-NY-23) and Mike Thompson (D-CA-5) introduced H.R. 2995, a bipartisan bill that repeals the $2,000 deductible limit on small group health insurance plans under the Patient Protection and Affordable Care Act (PPACA). The $2,000 deductible limit for small group plans was an amendment offered and accepted by the Senate Finance Committee for largely political considerations at the time but does not harmonize well with other provisions of the bill. Because the Congress did not conference the legislation, it is now law. The administration has acknowledged the difficulty for employers as well as health plans to create and offer a viable plan with the deducible limit when paired with a high deductible plan. HHS in their regulation recognizes this problem to meet the actuarial requirement for a Bronze level plan for example, by offering plans an undefined waiver at plan request.
Employers need more certainty as do the plans. Employers rely on these high deductible plan designs to reduce their premium outlays and often buy down some of the deductible through a health savings account (HSA) arrangement. Plans development and design takes time and resources so they would also benefit from the certainty that their plan will be approved and meet the requirements of the law. It is believed that the repeal could be a cost saver according to some outside actuarial and economic analysis.
The 2013 FAHU Symposium was a great success! We’d like to thank all of the members of CFAHU who attended and/or sponsored this event. It wouldn’t be a success without you!!
Hopefully we’re all armed now with the tools needed for