Description: This study was sponsored by the Society of Actuaries Health Section. This paper explores the relative significance of aging as a determinant of financial cost of health care beyond age 50, with particular attention to the effect for ages 65 and older. The paper presents concepts of aging factors and aging curves, which define relative values between ages for utilization or cost of health care services. General conclusions are drawn from Medicare data that utilization and cost differ by age, but that aging factors vary across services and may be less significant at very old ages. The author then turns to the question of measuring the significance of an aging curve assumption and what accuracy is lost in the simpler alternative of a single value across an age range.

Description: This article discusses the Own Risk and Solvency Assessment ORSA Guideline that is being developed by the NAIC Group Solvency Issues working group as part of the Solvency Modernization Initatitve SMI. It looks at the purpose of the ORSA, the three sections of the NAIC ORSA and issues with current U.S. ORSA draft.

Description: The purpose of this paper is to examine the status of pensions today in this country, with a few backward glances on how we got here and a little contemplation of whither we may go perhaps, willy-nilly. From Transactions of Society of Actuaries 1949, Vol. 1, No. 1.

Description: This section presents and summarizes insurance-related legal cases of 1953 including: 1. GROUP ANNUITY CONTRACTPERPETUAL OBLIGATION: Freeport Sulphur Company v. Aetna Life Insurance Company, 2. SERVICE OF PROCESSUNAUTHORIZED INSURER: Parmalee v. Iowa State Traveling Men's Association, 3. ORAL PLEDGE OR ASSIGNMENTCREDITOR'S RIGHT: Commercial National Bank v. Chapman, 4. DOUBLE INDEMNITYMILITARY EXCLUSION: Weissman v. Metropolitan Life Insurance Company, 5. LIQUIDATION OF MUTUAL COMPANYJURISDICTION OF INSURANCE COMMISSlONER: Allyn v. Hull, 6. AVIATION EXCLUSIONPARACHUTE JUMP: Smith v. Mutual Benefit Health and Accident Association, 7. SETTLEMENT OPTIONTESTAMENTARY DISPOSITION: Hall v. Mutual Life Insurance Company, 8. PURCHASE OF HOME OFFICE PROPERTYINSURANCE SUPERINTENDENT'S APPROVAL: Guardian Life Insurance Company vs. Bohlinger, 9. LOAN VALUE: DISABILITY AND DOUBLE INDEMNITY RESERVES: Chastang v. Mutual Life Insurance Company, 10. CONVERSION OF GROUP INSURANCESUICIDE: Lineberry v. Security Life and Trust Company, 11. DOUBLE INDEMNITYMILITARY EXCLUSION: Western Reserve Life Insurance Company vs. Meadows

Description: This discussion is about the actuarial considerations that should surround proposals in Congress for reinsurance of health plans. From Transactions of Society of Actuaries 1954, Vol. 6, No. 14.

Description: This paper discussed providing consumers of medical care with transparent and comparable price and quality information to enable them to make economically optimal decisions.

Description: Read the latest ACLI Update.

Description: The article first tries to determine a consensus view of what social security should accomplish and then tries to measure how well the current level of benefits succeeds in meeting these goals. Assessing benefit adequacy is an essential element in putting the overall program on a sound financing footing.

Description: A recap of the SOA Research Institute's participation in the Spring 2024 NAIC National Meeting.

Description: Public policy makers acknowledge that there exist significant tax incentives for the use of Registered/Qualified Pension Plans and RRSP's/lRA's. This is the abstract of a paper that first analyzes these tax advantages as to the component source, i.e., how much of the advantage can be attributed to the tax deductibility of contributions and how much is because of the non-taxation of the investment income until taken. The paper then attempts to determine and illustrate whether or not these elements of tax assistance should be viewed as tax deferral or tax waiver. The analysis shows that any tax advantages associated with the deductibility of contributions is only tax deferral. However, the paper proves that there is a permanent loss to the taxpayers associated with the non-taxation of earned investment income until taken which should be viewed as a tax subsidy or tax waiver. The paper ends with a short discussion of the public policy issues raised by these findings. From Actuarial Research Clearing House 1994, Vol. 1.