ACADEMY IN THE NEWS

The following items contain links to news stories in which the Academy or Academy volunteers appear. Note: The Academy is not responsible for the content of these websites. Some sites may require registration or a subscription. Links may expire.


August 15, 2010
Kansas City Business Journal

Karen Bender, a volunteer on the Academy’s Committee on Federal Health Issues, discussed the purpose of health insurance capital and surplus. Bender said that surplus and capital are used to ensure health insurer solvency.

August 15, 2010
Baltimore Sun

The Academy's Social Security Game was cited and linked as part of a feature on Social Security, which included a poll on how readers would fix the program.

August 05, 2010
MSNBC.com

The Academy's Senior Pension Fellow Frank Todisco discussed the 2010 Social Security trustees’ report. Todisco said that although the recession caused a shortfall in revenue, Social Security’s insolvency date is still estimated to be 2037 because of an indirect impact of a new tax in the health care reform law that could trim health insurance benefits and boost taxable wages, thus increasing Social Security revenue.

August 05, 2010
Bloomberg

Tom Wildsmith, an Academy board member and long-time Health Practice Council volunteer, offered an initial actuarial perspective on the 2010 Medicare trustees’ report. Wildsmith said that although Medicare’s hospital insurance (HI) trust fund’s date of exhaustion has been put off for a few years, an underlying financial imbalance still remains.

August 03, 2010
"The Takeaway"

Academy Senior Pension Fellow Frank Todisco was a featured guest to discuss the retirement age for pension plans. Todisco said that as people are living longer, pension plans become more and more expensive to maintain.

August 02, 2010
New York Times

The Academy's Medical Loss Ratio Regulation Work Group's May 14 letter to the U.S. Department of Health and Human Services regarding new medical loss ratio requirements was cited.

August 02, 2010
CNNMoney.com

Academy Senior Pension Fellow Frank Todisco and Academy board member Ron Gebhardtsbauer discussed increasing the retirement age for Social Security. Todisco said a worker can still earn about the same level of retirement security with an increased retirement age if the future retiree decides to work one extra year for every year the retirement age is increased.

July 26, 2010
The Republican (Springfield, Mass.)

Academy Life Products Committee member Linda Lankowski discussed risk classification and gender-based pricing for life insurance. Lankowski said that differences in life expectancy among males and females exist across all demographics and in every country around the globe.

July 23, 2010
Newsday

The Academy was mentioned for warning about possible adverse selection issues with the Community Living Assistance Services and Supports (CLASS) Act.

July 18, 2010
CNN

Academy Public Interest Committee Chairperson Tom Terry discussed increasing the retirement age for Social Security. Terry said that the age needs to increased to address Social Security's long-term imbalance.

July 14, 2010
Urban Institute

The Academy's Senior Pension Fellow Frank Todisco was a panelist during an Urban Institute briefing that explored increasing the retirement age for Social Security. Audio also available.

June 18, 2010
Plan Sponsor

Academy Senior Pension Fellow Frank Todisco made several observations following the release of the Governmental Accounting Standards Board's Preliminary Views on Pension Accounting and Financial Reporting by Employers.

June 17, 2010
Insurance Networking News

Written testimony submitted by the Academy to the U.S. Senate Special Committee on Aging for a June 16 hearing regarding lifetime income options was cited. The Academy stressed the importance of educating the public about longevity risk.

June 14, 2010
National Underwriter Life & Health

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.

June 14, 2010
Banker & Tradesman

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.

June 10, 2010
AARP Bulletin

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.

June 08, 2010
Washington Examiner

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.

June 07, 2010
New York Times

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.

June 03, 2010
New York Times

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.

June 01, 2010
Kiplinger's Personal Finance

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.

May 28, 2010
"Marketplace" (American Public Media)

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.

May 24, 2010
Bureau of National Affairs

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.

May 20, 2010
BestWire

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.

May 13, 2010
The Bend Bulletin

The Academy's Senior Health Fellow Cori Uccello discussed the effects of bringing young people into the health care market -one of the most vital components of health care reform. She said that young people, on average, have lower medical spending costs and are a lower risk than older people. Uccello said that the new health care reform law brings in young people and that helps achieve a broad cross-section of risk and stabilizes the risk pool over time.

May 11, 2010
CNNMoney.com

Academy board member Ron Gebhardtsbauer discussed different proposals to increase Social Security's retirement age, a reform option that the Academy has advocated should be included in any reform package.

May 10, 2010
Pittsburgh Tribune-Review

The Academy was cited as the source of various life expectancy and longevity statistics for average 65-year-old males and females.

May 06, 2010
Insurance Networking News

An Academy white paper on systemic risk regulation was discussed and Academy Financial Regulatory Task Force Chairperson Jesse Schwartz was quoted from a related Academy news release. Schwartz said that a federal systemic risk regulator would be best-positioned to coordinate at a national level and across international lines to monitor and manage systemic risk.

May 03, 2010
National Underwriter Life & Health

The Academy Medical Loss Ratio Regulation Work Group's letter to the National Association of Insurance Commissioners regarding the potential for disruption to the individual health insurance market resulting from new medical loss ratio requirements was discussed. The work group asked regulators to consider options for adjusting the medical loss ratio calculation method for individual market products.

May 03, 2010
New York Times

The Academy was mentioned for warning about possible adverse selection issues with Community Living Assistance Services and Supports (CLASS) Act.

May 03, 2010
Indianapolis Star

The Academy was cited as source of various life expectancy and longevity statistics for average 65-year-old males and females.