Fall 2019 – Group Health Exam Changes – New Syllabi Released

The SOA released the new syllabi for the Group Health restructured exams: DP, FV and Specialty for Fall 2019 and can be found on their website.

Summary
The new exams are mostly a restructuring of the old chapters, broken out into different buckets. There are a couple of new readings, but a lot of the material is using the same chapters and study notes as before.

Syllabi Changes

DP Exam
Objective 1 – Plan Provisions (Part of DP-C)
[Formerly Objective 1 of the Core exam]
-Added 1 new reading

Objective 2 – Manual Rates (Part of DP-C)
[Formerly Objective 2 of the Core exam]
-Added 5 new readings (all from former Specialty syllabus), 1 slightly revised reading

Objective 3 – Employee Benefit Strategy (Part of DP-C)
[Formerly Objective 3 of the Core exam]
-Added 2 new readings, 1 slightly revised reading, 1 removed reading

Objective 4 – Provider Reimbursement (Part of DP-A)
[Formerly Objective 1 of the Advanced exam]
-No changes

Objective 5 – Underwriting (Part of DP-A)
[Formerly Objective 4 of the Advanced exam]
-Removed 1 reading (moved to Specialty exam)

FV Exam
Objective 1 – Reserving (Part of FV-A)
[Formerly Objective 3 of the Advanced exam]
-Added 3 new readings (all from former Specialty syllabus), 1 removed reading

Objective 2 – Actuarial Appraisal (Part of FV-A)
[Formerly Objective 3 of the Specialty exam]
-Added 3 new readings, 1 slightly revised reading, 1 removed reading

Objective 3 – Government Programs (Part of FV-C)
[Formerly Objective 4 of the Core exam]
-Added 1 new reading, 1 slightly revised reading, 1 removed reading

Objective 4 – Financial Statements (Part of FV-C)
[Formerly Objective 5 of the Core exam]
-Added 1 new reading, 1 slightly revised reading, 5 removed readings

Objective 5 – Regulation and Taxation (Part of FV-C)
[Formerly Objective 6 of the Core exam]
-1 revised reading, 3 removed readings

Objective 6 – Retiree Benefits (Part of FV-C)
[Formerly Objective 7 of the Core exam]
-1 slightly revised reading
 

Specialty Exam
Objective 1 – Claims and Disease Management
[Formerly Objective 2 of the Advanced exam]
-No changes

Objective 2 – ERM
[Formerly Objective 2 of the Specialty exam (i.e. no change)]
-Added 3 new readings (1 from Advanced, 1 from ERM-Health Extension), 2 readings moved from former Objective 1, 2 slightly revised readings

Objective 3 – Risk Adjustment
[Formerly Objective 4 of the Specialty exam]
-Added 1 new reading

Deja Vu
For some of you, this may mean that you’ll see some chapters on the new exams that you’ve already been tested on (for instance, people taking Specialty now with Advanced credit will be very familiar with Objective 1 about Claims and Disease Management), but just look at it as having a head-start on the material.

Detailed Syllabus Changes
Detailed changes for each syllabus can be seen in the attached document.

TIAGroupHealth-SyllabusChanges-Fall2019

 

TIA Online Course Offering and Free Extension Policy – Spring 2019 – Spring 2021

As you are aware, the SOA has announced big changes for the Group Health FSA track, beginning in Fall 2019.  (See more details here:  http://theinfiniteactuary.com/blogs/exam_gh_dp/?p=14)

This post is designed to help answer questions about what TIA will offer for its online courses during this time period and how the one-time, free six month extension will work if a student doesn’t pass their exam.

Transition Process

Our intent is to continue to provide our excellent support and services to students in all different scenarios of this transition, whether you’re just starting your FSA process or finishing up with pieces of transitional credit.  We also strive to make the extension policy as fair as possible to students in every situation.  We understand that changes in the exam system can be stressful and cause anxiety, and we are doing everything we can to help you through this journey.

New Syllabi for DP and FV – not yet available

The new syllabi and course structure for the DP and FV exams have not been released yet by the SOA, so we don’t have information about the actual content of the exams.

Online Course Offerings and Extension Policy

Please see the attached file below, as it may be easier to see things graphically than to try to explain every scenario in words.

TIA-Group-Health-Exam-Transition-Policy-2019-2021

As always, if you have questions, please email me at derek@theinfiniteactuary.com.

 

 

SOA – FSA Health Track Changes – Fall 2019

The SOA announced upcoming changes to the FSA exams, and there are significant changes on the horizon for GH Core and GH Advanced.

https://www.soa.org/curriculum-changes/fsa-track-changes/

Here’s how I understand it:

A. Current Process:

-Core Exam (5 hrs)
-Advanced Exam (5 hrs)
-Specialty Exam (2 hrs) or ERM Exam (4 hrs)

B. New Process: (as of Fall 2019)

-DP Exam (5 hrs)
-FV Exam (5 hrs)
-Specialty Exam (2 hrs) or ERM Exam (4 hrs)

C. Transition Period – Fall 2019 – Spring 2021:
DP and FV exams are split, so you can get credit if you already passed Core (C) or Advanced (A). If you haven’t passed C or A, then you must pass the full DP and full FV exams. If you already passed both C and A, you won’t need to take DP or FV.

Already Passed Core, but Not Advanced – given transitional credit for DP-C and FV-C

-Must take BOTH FV-A and DP-A in the same sitting (next sitting)
-If you pass FV-A, but not DP-A, you get full credit for FV, and now only need to take DP-A the next sitting
-If you pass DP-A, but not FV-A, you get full credit for DP, and now only need to take FV-A the next sitting
-If you pass both, you now have credit for FV and DP

Already Passed Advanced, but Not Core – given transitional credit for DP-A and FV-A

-Must take BOTH FV-C and DP-C in the same sitting (next sitting)
-If you pass FV-C, but not DP-C, you get full credit for FV, and now only need to take DP-C the next sitting
-If you pass DP-C, but not FV-C, you get full credit for DP, and now only need to take FV-C the next sitting
-If you pass both, you now have credit for FV and DP

End of Period
-Transitional credits expire by the end of Spring 2021 – if you don’t have full DP credit (DP-C + DP-A), you have to take the full DP exam (and same for FV)

D. Module Change:
-Health Economics module will replace Financial Economics module

I will keep you updated as I learn more.

-Derek