U.S. state insurance regulators today announced that Team USA members had secured an agreement advancing critical U.S. objectives as part of the International Association of Insurance Supervisor’s (IAIS) debate on the next phase of its Insurance Capital Standard (ICS) project. State regulator support came after the IAIS agreed to significant changes resulting in an achievable definition and approach to assessment of comparable outcomes, providing a clear path for the Aggregation Method. Other changes include providing timelines and governance for operationalizing the monitoring period, a commitment to consider modifications to the ICS itself, and conducting an economic impact assessment.

• NAIC Interpretive Guidance for ICS

Open enrollment for your company is about to begin and you’re considering enrolling in a high-deductible health plan. Or you know that you will have health expenses in the future and you're looking for a way to pay for those costs without having to pay all at once. If you enroll in a high-deductible health plan and you have money to save for future health care expenses, opening a health savings account (HSA) allows you to save money on taxes and help pay for health costs when they come along. The National Association of Insurance Commissioners (NAIC) has information on how an HSA can benefit you.  

The NAIC has released a request for proposal (RFP) to retain an actuarial consultant to review, recommend improvements, and conduct a data call for specific long-term care insurance information.

• Request for Proposal

In 2018, wildfires destroyed 8.76 million acres of land in the United States, according to the National Interagency Fire Center. Wildfires are most common in the west where heat, drought and thunderstorms create favorable wildfire conditions. However, uncontrolled fires can and have occurred in most of the 50 states.

The Medicare Access and CHIP Reauthorization Act (MACRA) goes into effect January 1, 2020. This means newly eligible enrollees cannot buy Plans C, F or F High Deductible after January 1, 2020. Plans D, G, and G High Deductible replace Plans C, F and F High deductible. All other Medigap plans remain unchanged.

Better navigate MACRA with the following resources:

• Consumer Alert: The Truth about Medigap Changes
• MACRA Sales and Marketing Bulletin
• MACRA Producer Bulletin
• MACRA Consumer Bulletin

The open enrollment period for 2020 health insurance coverage through marketplaces and other individual plans is here. The NAIC has what you need to know to enroll.

The NAIC announced it has issued a Request for Proposal (RFP) to engage a firm to conduct a business and technical assessment of the NAIC’s System for Electronic Rates and Forms Filing (SERFF). 

• Request for Proposal

Dean Cameron, Director of the Idaho Department of Insurance and Commissioner Andrew Mais, commissioner of the Connecticut insurance department represented state insurance commissioners at in the ASSAL Regional Seminar in San Jose, Costa Rica. This regional seminar is organized in association with the International Association of Insurance Supervisors, and had over 100 participants from regulators and the private sector in the Latin American region.

Chlora Lindley-Myers, Director of the Missouri Department of Commerce and Insurance, testified today on behalf of the NAIC at a joint hearing of the House Financial Services Committee’s Subcommittee on Housing, Community Development  and Insurance and the Subcommittee on National Security, International Development and Monetary Policy, at a hearing entitled “Protecting America: The Reauthorization of the Terrorism Risk Insurance Program (TRIP)."