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Edited News Release – The American Academy of Actuaries honored NovaRest Founder Donna Novak for her contributions to the professional association and her efforts to advance its mission. Donna was recognized with the 2014 Award for Outstanding Volunteering during a ceremony in Washington.

“The Academy benefits greatly from the substantive contributions of the more than 1,200 volunteers who are actively engaged in fulfilling its public policy and professionalism mission,” said Academy President Tom Terry, who presented the awards. “In their volunteer work for the Academy, David, Donna, Bob, and Steve each contributed substantially to important Academy work, demonstrating a commitment to the profession and the public that won the admiration of the members and officers of the Academy.”

Novak was honored for her extensive work as a leader of the Health Practice Council, including:

  • Her work with the Health Solvency Work Group on health risk-based capital.
  • Her role in the Academy’s efforts related to implementation of provisions in the Affordable Care Act, including the medical loss ratio requirements, risk-sharing mechanisms, and rate review requirements.
  • And her contributions on behalf of the Actuarial Standards Board in the development of the new actuarial standard of practice No. 8.

The Academy established the Award for Outstanding Volunteerism to honor Academy volunteers who have made a single, noteworthy volunteerism contribution in the previous year that is above and beyond what is reasonably expected of an Academy volunteer.