Description: Presented at May 2000 Spring Meeting. The Balanced Budget Act of 1997 dramatically changes the competitive landscape for Medicare products by establishing the Medicare+Choice program. This session recaps the Balanced Budget Act's impact on payment rates for capitated plans and the effects that the changes have made on benefit design and enrollment trends in certain geographical areas.

Description: This article is a follow up to an article in the February, 1977 issue of the actuary, which was a discussion of the article, Sex and the Single Table. This article is a reply by Barbara J. Lautzenheiser, FSA, author of Sex and the Single Table, to a comment her original article generated. This current article again provides an excellent explanation of actuarial risk classification practices, and of the legal and social issues used to argue against risk classification, noting that if society does favor policy that overrides risk classification based on gender, such as promoting unisex tables for determining pension payments, then the implications should be understood.

Description: Disease Management and the impact of overlap, co-morbidity on determining cost savings and employer buy-in. Issue No. 37.

Description: In this paper, we derive three important longevity Greeks on the basis of an extended version of the Lee-Carter model that incorporates stochastic volatility.

Description: Discussion papers on a paper dealing with minimum statutory nonforfeiture values for retirement annuity contracts.

Description: China’s pension system has transformed from traditional retirement system based on command economy to modern pension system based on market economy .

Description: Discussion of the 1958 CSO Mortality Table: 1. Considerations regarding continuous functions, age last birthday and changing reserve methods 2. Likelihood of Canadian adoption 3. Impact on extended insurance and automatic premium loan provisions.

Description: Two breakout sessions were held. Their goal was to explore ways in which researchers and practitioners could be brought closer together. The following summaries were edited by Stuart Klugman from notes taken by the indicated participants: Session #1 - Bridging the gap with regard to modality and morbidity and Session #2 - Bridging the gap with regard to financial modeling.

Description: From the 1960 Transactions Vol. 12 No. 32, this paper provides a comprehensive introduction to nonproportional reinsurance and its application in life and health insurance, and employee benefit plans. The author defines the various types of reinsurance and notes that to date nonproportional reinsurance has not been widely used in the U.S. for life insurance, and explores areas for possible application. Theoretical aspects such as formulas for premium determination are also discussed.

Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author presents an outline of how difficulties in the determination of a frequency distribution of the expected costs may be overcome by, in part, applying the concept of using a series of random numbers with a view of making mortality studies for each life in a group of annuitants. The paper also presents the results of some experiments which were designed to discover whether or not the concept could be conducted on an IBM 650 electronic data processing machine.