Research Insights, a Society of Actuaries Podcast January 2025 Classic Edition - Actuarial Practice Impact on a New U.S. Administration
Jan 16, 2025
In this insightful discussion, John Bertko, an independent actuarial consultant and former chief actuary at Covered California, and Steve Goss, former Chief Actuary at the Social Security Administration, share their expertise on the impact of a new U.S. administration on health care and social security. They explore anticipated changes in the Affordable Care Act, the effects of COVID-19 on social security projections, and the necessary adaptations to ensure sustainability. Their perspectives highlight both challenges and opportunities in actuarial practices during a pivotal transition.
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Administrative Actions for Healthcare
- A new administration can enact both significant changes, like public plan options, and numerous smaller adjustments.
- Prioritize funding marketing and outreach, extending open enrollment, and offering special enrollment periods related to economic downturns.
ACA and the Supreme Court
- The Supreme Court's decision on the Affordable Care Act's mandate could impact its future.
- The concept of severability might allow the rest of the ACA to stand even if the mandate is struck down.
Addressing COVID-19
- The Biden administration should prioritize tackling COVID-19 through federal coordination with states.
- Promote science-based approaches, focus on vaccine distribution, and address vaccine hesitancy.