Academy Life Products Committee Chairperson Cande Olsen was quoted from her testimony to the National Association of Insurance Commissioners during a May 20 public hearing regarding stranger originated/owned life insurance (STOLA). Olsen told commissioners that if the selling of variable annuity contracts with guaranteed minimum death benefits to terminally ill people becomes more prevalent, companies will need to increase charges or institute underwriting because of the additional risks and their costs.

The Academy Medical Loss Ratio Regulation Work Group's April 28 letter to the National Association of Insurance Commissioners (NAIC) regarding the potential disruption to the individual health insurance market resulting from new medical loss ratio requirements was cited in the NAIC's report to the U.S. Department of Health and Human Services. The NAIC cited scenarios described by the Academy on ways that inappropriate medical loss ratio requirements could disrupt the individual market prior to 2014.

Academy Multiemployer Plan Subcommittee Chairperson Eli Greenblum discussed the current state of multiemployer pension plans. Greenblum said that "many of the industries in which multiemployer plans are prevalent are hurting" and that the plans have limitations regarding how they are funded.

The Academy's premium estimates for the Community Living Assistance Services and Supports (CLASS) Act were cited. The Academy wrote that actuarially sound premiums for the new long-term care program could range from $125 to $160 per month.

The Academy Medical Loss Ratio Regulation Work Group's April 28 letter to the National Association of Insurance Commissioners regarding the potential disruption to the individual health insurance market resulting from new medical loss ratio requirements was cited and the Academy's Senior Health Fellow Cori Uccello was quoted.

Robert Parke, the chairperson of the Academy's Disease Management Work Group, was quoted. Parke said that savings from disease management programs are offset by the costs of managing the programs but are still worthwhile because they enhance the quality of care.

The Academy's critical issues in health reform paper on the Community Living Assistance Services and Supports (CLASS) Act was cited. The Academy wrote that actuarially sound premiums for the new long-term care program could range from $125 to $160 per month.

Academy Senior Pension Fellow Frank Todisco discussed the Academy's response to a request for information from the departments of Labor and the Treasury regarding lifetime income options.

Academy Life Products Committee member Linda Lankowski discussed risk classification and gender-based pricing for life insurance. She said that pricing should be equitable so that no group unfairly subsidizes another group and that the Academy supports actuarially sound pricing.

The Academy's Life Products Committee Chairperson Cande Olsen was quoted from her testimony to the National Association of Insurance Commissioners during a May 20 public hearing regarding stranger originated/owned annuities (STOLA). An Academy analysis from the appendix of her testimony was also published.