Insurance Q&A

May 30, 2012

Morningstar: Variable Annuity Sales Up 12% in 2011

Filed under: Annuities — rrroark @ 3:21 pm

Despite ongoing consolidation in the variable annuity industry, sales of new VAs in 2011 rose over 2010 levels, reports Morningstar.

Based on numbers from Q4 2011, the most recent statistics available, new variable annuity sales totaled $153.4 billion last year, or 12.3% above the $136.6 billion in new VA sales booked in 2010.

Net cash flow for 2011 hit $27.7 billion, the highest level since 2007 when net cash flow reached $34 billion and well exceeding the low point of $17 billion back in 2009.

MetLife led in individual VA sales in 2011, grabbing a 21.7% share of sales. Prudential, which had held the top spot from 2009 to the first quarter of 2011, took second place with a 15.4% market share. Taking third place was Jackson National, coming in with a 13.3% share. Those three firms accounted for a combined 50.5% of all retail business in 2011, or roughly $66.2 billion in new VA sales.

via Morningstar: Variable Annuity Sales Up 12% in 2011 | LifeHealthPro.


March 22, 2011

The Problem with ObamaCare’s Individual Mandate

Filed under: healthcare reform,obamacare — rrroark @ 8:48 pm

November 11, 2010

MetLife to Stop Selling New LTC Policies

Filed under: Uncategorized — rrroark @ 6:19 pm

MetLife Inc. says it will no longer sell new long term care (LTC) insurance policies in either the individual or group markets after the end of the year.

The move will not affect coverage for the company’s existing LTC insureds, the company says.

The decision to stop writing new LTC insurance business, effective Dec. 30, came after an “extensive review” of the market, according to the announcement by MetLife (NYSE: MET), New York.

The company will continue to accept new applications for individual LTC policies if they are received by Dec. 30. For existing group and multi-life LTC insurance plans, it will stop accepting new enrollments throughout 2011, with the timing based “on existing contractual obligations” with employers, MetLife said.

Current insureds can keep their coverage and, if permitted under the terms of their policy, change benefits such as inflation protection.

God Help You. You’re on Dialysis.

Filed under: Uncategorized — rrroark @ 11:37 am

Every year, more than 100,000 Americans start dialysis. One in four of them will die within 12 months—a fatality rate that is one of the worst in the industrialized world. Oh, and dialysis arguably costs more here than anywhere else. Although taxpayers cover most of the bill, the government has kept confidential clinic data that could help patients make better decisions. How did our first foray into near-universal coverage, begun four decades ago with such great hope, turn out this way? And what lessons does it hold for the future of health-care reform?

In October 1972, after a month of deliberation, Congress launched the nation’s most ambitious experiment in universal health care: a change to the Social Security Act that granted comprehensive coverage under Medicare to virtually anyone diagnosed with kidney failure, regardless of age or income.

It was a supremely hopeful moment. Although the technology to keep kidney patients alive through dialysis had arrived, it was still unattainable for all but a lucky few. At one hospital, a death panel—or “God committee” in the parlance of the time—was deciding who got it and who didn’t.

Read the rest at “The Atlantic”

Crossposted at Politician, Tar, Feathers (Some Assembly Required)

Dr. Drew on Obama’s Health care reform

Filed under: adam carolla,carolla,dr. drew,drew,health,healthcare,Obama,obamacare — rrroark @ 10:40 am

Dr. Drew on The Adam Carolla’s Show Podcast giving his prediction on what will happen when Obama’s health care act is implemented.From November 5th, 2010

Vodpod videos no longer available.

Dr. Drew on Obama’s Health care reform, posted with vodpod

November 8, 2010

The Election and Insurance Comissioners

Filed under: Uncategorized — rrroark @ 12:51 am

Last week’s election results for state gubernatorial races across the nation are likely to radically change the complexion of the state insurance regulatory system, with commissioner positions hinging on the actions of newly elected governors.

Only 11 states have elected commissioners, and only three of those seats were contested last Tuesday.

Sandy Praeger faced no opposition and will stay as insurance commissioner in Kansas. The only other incumbent running in a commissioner’s race—Democrat Kim Holland in Oklahoma, the vice president of the National Association of Insurance Commissioners—lost to Republican challenger John Doak.

In all other states, insurance commissioners are appointed by the governor, and of the states that do not elect commissioners there will be new governors in two dozen states due to either term limits or because incumbents are not seeking re-election.

November 7, 2010

Rudy Giuliani – Market-Based Healthcare Reform

Former mayor of New York City and current Republican Presidential candidate Rudy Giuliani discusses his views on healthcare reform.

Vodpod videos no longer available.

Rudy Giuliani – Market-Based Healthcare Reform, posted with vodpod

October 22, 2010

The more we know about ObamaCare…

the more we find out it wasn’t designed to cut costs but to eventually eliminate private insurance coverage and create a government-run system.

Mega-firms such as AT&T, Caterpillar, John Deere and Verizon are among those that are either considering ending coverage for their employees or have already chosen to do so. It’s not just the big companies eliminating benefits, either. Smaller employers are doing the same. Larry M. Elkin, president of Palisades Hudson Financial Group, wrote Thursday in the Business Insider: “For 15 years, I have taken pride in paying the full cost of health insurance for every full-time Palisades Hudson employee who wanted it. This month marks the last time I will do that.”

Read te whole article at Investors Business Daily

October 18, 2010

Cavuto on Business: Health Care Revolt

Poll: 75 percent of voters think companies will drop coverage because of health care overhaul.

Vodpod videos no longer available.

Cavuto on Business: Health Care Revolt, posted with vodpod

October 1, 2010

Obama Says No One Will Lose Their Health Care Choice

Filed under: healthcare reform,iowa,no one will lose,Obama — rrroark @ 11:53 am

Obama says no one will lose their chosen health care at an event in Iowa.

Tell that to Harvard Pilgrim Medicare Advantage members in the Northeast:

Harvard Pilgrim Health Care has notified customers that it will drop its Medicare Advantage health insurance program at the end of the year. The decision by Wellesley-based Harvard Pilgrim, the state’s second-largest health insurer, was prompted by a freeze in federal reimbursements and a new requirement that insurers offering the kind of product sold by Harvard Pilgrim — a Medicare Advantage private fee for service plan — form a contracted network of doctors who agree to participate for a negotiated amount of money. Under current rules, patients can seek care from any doctor.

Tell that to part-time food service workers:

The new health care law could make it difficult for companies like McDonald’s to continue offering limited insurance coverage to their low-wage workers. The world’s largest hamburger chain provides its hourly workers with low-cost plans known as “mini-meds” or limited benefits plans. These plans typically cover things like doctor’s office visits and prescription drugs. But they don’t provide comprehensive coverage.

McDonalds is big enough that they will doubtlessly get a waiver but what about your local businessmen?

Dana Perino weighs in.

Vodpod videos no longer available.

Another Lie: Obama Says No One WIll Lose Health…, posted with vodpod

Crossposted @ Politician, Tar, Feathers (Some Assembly Required)

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