It’s no surprise that articles about ORSA, IFRS, and ACA top the list of most viewed articles worldwide in 2015. Also making the list are pieces on the root causes of the risk corridor funding shortfall and ideas for former employee plan participants. The top 15 articles and reports for the year are listed below.
Calendar year 2016 Medicare Part B premium increase: Impact on state Medicaid programs, By Ian M. McCulla and Robert M. Damler
This year, preliminary estimates indicate that the increase in the Medicare Part B premium will be higher than the cost inflation alone, and a quirk in the laws may require the increase to be spread unevenly among beneficiaries, at least for this year.
FIGURE 1: IMPACT OF PART B PREMIUM INCREASE ON CY 2016 MEDICAID EXPENDITURES (IN MILLIONS)
Transitional reinsurance at 100% coinsurance: What it means for 2014 and beyond, By Daniel J. Perlman, Doug Norris, Hans K. Leida
The 2014 transitional reinsurance program had a coinsurance rate of 100% rather than 80%, and this had implications for the final 2014 financial results of issuers of individual and small group market plans that complied with the Patient Protection and Affordable Care Act.
ORSA process implementation for internal stakeholders, By Eamonn Phelan, Ger Bradley, Padraic O'Malley, Zohair Motiwalla
Milliman carried out a cross-disciplinary survey to find out what insurance companies understand and expect from an ORSA, the effort to complete an ORSA, and the benefits of doing so.
IFRS 4 Phase II comparison with Solvency II and MCEV, By Donna McEneaney, Ernst Visser
A comparison of the proposed accounting standard for insurance contracts, IFRS 4 Phase II, with Solvency II and MCEV.
Headwinds cause 2014 risk corridor funding shortfall, By Scott Katterman
This paper explores some of the root causes underlying the funding shortfall for the program, highlights how the funding shortfall would have been even greater without the increased individual market reinsurance recoveries announced in June, and considers funding implications for 2015 and 2016.
Stepping stones to ORSA: Looking beyond the preparatory phase of Solvency II, By Eamonn Phelan, Sinéad Clarke
This paper outlines how insurers in different European countries have approached the preparatory guidelines of Solvency II and what steps can be taken to build on the progress achieved during the preparatory phase to meet the full ORSA requirements from 2016 onwards.
Former employee plan participants: What is in their best interest?, By Douglas A. Conkel
As defined contributions savings plans continue to mature as the primary retirement vehicle for most employees, more discussion is occurring to help former employees protect and grow their accumulated retirement accounts.
Drones: Emerging commercial potential, emerging liabilities, By Carl X. Ashenbrenner, Thomas A. Ryan
Drones have taken center stage and the property/casualty insurance industry is responding.
Issues and challenges in a principle-based reserving world, By James G. Stoltzfus, Karen K. Rudolph, Uri Sobel, William M. Sayre
This paper focuses on the potential impact of the new Actuarial Guideline 48 requirements.
Public Pension Funding Study, By Rebecca A. Sielman
The Milliman Public Pension Funding Study annually explores the funded status of the 100 largest U.S. public pension plans.
Usage-based insurance: Big data, machine learning, and putting telematics to work, By Marcus Looft, Scott C. Kurban, Terry Wade
For auto insurers, telematics opens up an unprecedented granular view of the road habits of individual drivers.
ACA risk adjustment: Special considerations for new health plans, By David M. Liner, Jason Siegel
This paper explores strategies that new and existing issuers can use to ensure optimal risk transfer payments.
Pension Funding Study and Pension Funding Index
Declining interest rates made 2014 a banner year for pension plans with substantive allocation to fixed income investments, benefiting plans that pursued a liability-driven investing strategy.
G100 Discount Rates, By Craig McCulloch, Danny L. Quant, Joanne L. Gyte, Joshua Corrigan
This paper assesses whether the Australian corporate bond market meets the requirements as outlined in Australian Accounting Standard 119 (AASB119) and determines a methodology to derive a full discount rate curve allowing for possible limitations in available market data.
2015 Milliman Medical Index, By Christopher S. Girod, Scott A. Weltz, Susan K. Hart
In 2015, the cost of healthcare for a typical American family of four covered by an average employer-sponsored preferred provider organization (PPO) plan is $24,671 according to the Milliman Medical Index (MMI).