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American Academy of Actuaries Defines "Qualified"

(Scattergram image courtesy of NASA)
(Scattergram image courtesy of NASA)

The American Academy of Actuaries (AAA) is trying to get states to use the same approach to defining the term "qualified actuary" in laws and regulations relating to the health insurance rate review provisions in the Patient Protection and Affordable Care Act of 2010 (PPACA).

The AAA, Washington, is a professional association that says part of its mission is to set "qualifications, practice, and professionalism standards for actuaries in the United States."

The AAA already has been talking to individual states about its concerns about those states' use of the term. In February, for example, the AAA health practice council and the AAA qualifications committee suggested that the state should define the term "qualified actuary" in the Arizona Administrative Code, not simply rely on the definition given in the health insurance reserve filing statute.

Later in February, the AAA asked actuaries to contactt the AAA if they learned their states had or were considering adopting "qualified actuary" definitions that differ from the AAA's suggested definition, according to a health activity notice the AAA posted in February.

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Nichole Morford

Nichole Morford
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