Introduction to Health Statutory Accounting and Reporting

Virtual Training Seminar
21.0 CPE Credits Available
Presenters: Bruce A. Cromartie/Karen Foster
August 26-28, 2020
9:00am Eastern
(8:00am Central)
September 1-3, 2020
9:00am Mountain
(8:00am Pacific)
Day 1

Day One

9:00am – 9:15am

Introductory Comments

9:15am – 10:30am

Introduction to Health Insurance Regulation

This session provides an overview of the health insurance industry, the types of health entities, how they are organized and function, and an overview of key state and federal regulatory requirements. This session also discusses the function and structure of the regulatory agencies that have oversight of health entities including a discussion of the financial regulatory framework, the structure and function of state insurance departments and an overview of NAIC and its function.

10:30am – 10:45am


10:45am – 12:00pm

Introduction to Statutory Accounting

This session provides an introduction to statutory accounting, its concepts, characteristics, similarities, and differences from Generally Accepted Accounting Principles. This session also focuses on Statutory Accounting Practices and Procedures including its history, background, statement of concepts and statutory hierarchy. Also included in this discussion is an overview of the NAIC structure responsible for maintaining and developing new statutory accounting doctrine.

This session also provides a discussion and analysis of the Statements of Statutory Accounting Principles (SSAP) that provide the foundation and fundamental concepts that provide the basis for statutory accounting and reporting.

The SSAPs discussed in this session include:

  • Statutory Accounting Preamble
  • SSAP No. 1 – Disclosure of Accounting Policies, Risks, & Uncertainties and Other Disclosures
  • SSAP No. 3 – Accounting Changes and Correction of Errors
  • SSAP No. 4 – Definition of Assets and Nonadmitted Assets
  • SSAP No. 5R – Liabilities, Contingencies, and Impairment of Assets
  • SSAP No. 9 – Subsequent Events
  • SSAP No. 64 – Offsetting and Netting of Assets and Liabilities

12:00pm – 1:00pm


1:00pm – 2:00pm

Introduction to Statutory Reporting

This session provides a discussion of statutory financial reporting requirements, an overview of the Health Annual Statement, maintenance of the statutory financial statements, a layout of the Health Statement, and an overview of state filing requirements.

2:00pm – 3:00pm

Accounting and Reporting for A&H Premium Income

This session provides a discussion and analysis of the SSAPs that provide the basis of accounting and reporting for accident and health premiums. This session provides guidance on understanding concepts such as written, advance, earned and unearned premiums. This session provides an overview of the related Schedules and Exhibits for reporting and allocating premium income.

The following SSAPs are addressed in this session:

  • SSAP No. 47 – Uninsured Plans
  • SSAP No. 50 – Classifications and Definitions of Insurance or Managed Care Contracts In Force
  • SSAP No. 54R – Individual and Group A&H Contracts, Revised
  • SSAP No. 66 – Retrospectively Rated Contracts
  • SSAP No. 107 – Accounting for the Risk Sharing Provisions of the Affordable Care Act

The Schedules and Exhibits covered in this session include:

  • Underwriting and Investment Exhibit, Part 1 – Premiums
  • Exhibit of Premiums, Enrollment and Utilization
  • Schedule T – Premiums and Other Considerations

3:00pm – 3:15pm


3:15pm – 4:15pm

Accounting and Reporting for Reinsurance

This session provides a discussion and analysis of the SSAPs that provide the basis of accounting, and reporting of reinsurance. This session also addresses the nature and purpose of reinsurance; provides a basic understanding of reinsurance concepts, terminology and the accounting for different types of reinsurance. An overview of Schedule S is also provided.

The following SSAPs are addressed in this session:

  • SSAP No. 61R – Life, Deposit-Type, and Accident and Health Reinsurance
  • SSAP No. 62R – Property and Casualty Reinsurance

The Schedules and Exhibits covered in this session include:

  • Schedule S – Reinsurance (All Parts)
Day 2
Day 3