This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chief Medicare Actuary Retires

Academy Applauds Foster's Service to Public and Profession

WASHINGTON, Feb. 1, 2013 /PRNewswire-USNewswire/ -- The American Academy of Actuaries offered a heartfelt thank you to Richard S. Foster, who is retiring this week as Centers for Medicare and Medicaid Services Chief Actuary after a long and distinguished career in public service. During his 18 years at CMS and previous 13 years as Deputy Chief Actuary of the Social Security Administration, Foster devoted his entire actuarial career to improving the financial status of the nation's most important social insurance programs — Medicare, Medicaid, and Social Security. His stewardship embodies service to the public, policymakers, and the actuarial profession over the course of his career.


"The Academy and the profession owe Rick a debt of gratitude for his service," said Academy President Cecil Bykerk. "Rick's objectivity and independence in the midst of an ever-changing political landscape often made his position as the top Medicare actuary challenging. But, it is his integrity, commitment to public service, and willingness to fight to preserve the availability of objective, nonpartisan information for the nation's policymakers and regulators that should serve as an example for the rest of the profession to follow."

Foster became chief actuary of the Health Care Financing Administration (forerunner to CMS) in 1995. Previously, he served as a deputy chief actuary for the Social Security Administration. Foster has received many distinguished awards, including the Presidential Distinguished Executive Award in 2001 from President Bush and the Presidential Meritorious Executive Award in 1998 from President Clinton. He also was a founding member of the prestigious National Academy of Social Insurance. Foster has taught actuarial seminars at Georgia State University and the Society of Actuaries.

He also served on the Academy's board of directors from 1999-2001, and the Academy presented him with the Robert J. Myers for Public Service in 2006 for holding the nation's toughest actuarial job at the time because of Medicare's serious financial situation and its extraordinary political sensitivity.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs