Suchergebnisse

Discusses implementation of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (PDIMA), and political implications for the Democratic and Republican parties; US.

The article examines the growing threat of the COVID-19 pandemic and its impact on the Bulgarian pension market. The applied investment regulatory approaches are considered an objective necessity and a prerequisite for making investment decisions in the context of a pandemic situation. The main trends of the return, realized by the pension funds for the previous and the current year, and its ratio to the alternative losses are indicated through an analysis of statistical data in the context of the first pensions granted to the insured persons of the universal pension funds.

The article examines the distinctive quality of subjects acting as parties to the personal insurance contract, considers the problems of differentiation and features of the beneficiary, the policyholder, and the insured person, and reveals the specifics of sports accident insurance. The paper substantiates the need to eliminate the discriminatory component in the field of insurance for persons over 65 years of age engaged in active sports. As a result of the study, aspects requiring more detailed legislative regulation in order to provide personal insurance services to consumers as fully as possible and eliminate possible litigation have been identified. A proposal to legislatively increase the age limit of persons who play sports in case of accident insurance has been made.

Perhaps no other Federal Government program can lay claim to have saved as many lives as the Medicare end stage renal disease (ESRD) program. Since its inception in 1973, as a result of the Social Security Amendments of 1972 (Public Law 92-603, section 299I), over 1 million persons have received life-saving renal replacement therapy under this program. Prior to the enactment of this legislation, treatment was limited to a very few patients due to its extremely high cost and the limited number of dialysis machines. In the 1960s, it was not uncommon for hospitals that had dialysis machines to appoint special committees to review applicants for dialysis and decide who should receive treatment, the others were left to die of renal failure. Public Law 92-603 removed this odious task from the nephrology community. A person with ESRD is entitled to Medicare if he/she is fully or currently insured for benefits under Social Security, or is a spouse or dependent of an insured person. Consequently, entitlement is less than universal, with 92 percent of all persons with ESRD qualifying for Medicare coverage.

The article discusses the development of revenue and expenditure of the Pension Fund (pl. Fundusz Emerytalno-Rentowy — FER) in the years 2003—2013. The article presents the sources of income, as well as the factors determining them. Particular attention was paid to the number of beneficiaries and the amount of benefits. In the analysed period, FER incomes and expenses were increasing at the same rate. FER incomes came mainly from the state subsidies and were intended for the payment of benefits. The data analysis indicates that the insured person, on average, paid a premium similar to the one paid to the beneficiary.

The topic developed below was presented during the "XIII Congreso nacional de seguros" held in Santa Fe (Argentina). As the insurance policy is a consumption contract when subscribed betwen a final consumer and a professional with obligations, the harmonization of such consumer legislation and insurance legislation is necessary to adjust it to the typical features of this contract where the correspondence betwn insured risk and price is essential for the protection of insured persons. ; El tema desarrollado en las próximas páginas, fue realizado a manera de ponencia en el marco de la Comisión 1 del XIII Congreso Nacional de Seguros celebrado en la ciudad de Santa Fe (Argentina). Dado que el contrato de seguro es un contrato de consumo cuando es celebrado entre un consumidor final y un profesional que se obliga, es necesaria la armonización de las legislaciones de consumidor y de seguros para adecuarla a la tipicidad propia de este contrato, donde la correspondencia entre riesgo asegurado y prima percibida es indispensable para el resguardo de la masa de asegurados.

The purpose of this paper is to compare the Latvian and the Lithuanian second tier pension systems, to determine the main elements of the second tier pension fund activity, to evaluate the impact of legal regulation, public opinion and investment preferences on the results of Latvian and Lithuanian pension fund activity and activity principles. According to the current legislation, the transitional period of implementation of the 2nd tier of the pension fund system in Lithuania will never end, and there will always be a probability that not all socially insured persons will participate in the 2nd tier of the pension system (in Latvia, about the year 2035, all socially insured persons will participate in the 2nd tier). According to the current legislation, by 2010 about 50% of Latvian funds nominated to pension insurance will be transferred to the 2nd tier of the pension system. That large amount of funds transferred to the 2nd tier implies that the Latvian social insurance system will face a greater risk (than the Lithuanian one) that the social insurance budget will not be capable to finance current benefits. In 2005 and 2006, the Lithuanian pension funds were more profitable facing a higher risk than did Latvian pension funds. The main factor of risk lies in the current Lithuanian legislation and in the possibility to invest 100% of funds in stocks. The less internationally diversified Latvian funds and few possibilities to invest internationally determine the lover profitability of Latvian pension funds and the higher concentration of profitability results of separate pension funds around the market average. The Lithuanian system of pensions is more hazardous than the Latvian.

The purpose of this paper is to compare the Latvian and the Lithuanian second tier pension systems, to determine the main elements of the second tier pension fund activity, to evaluate the impact of legal regulation, public opinion and investment preferences on the results of Latvian and Lithuanian pension fund activity and activity principles. According to the current legislation, the transitional period of implementation of the 2nd tier of the pension fund system in Lithuania will never end, and there will always be a probability that not all socially insured persons will participate in the 2nd tier of the pension system (in Latvia, about the year 2035, all socially insured persons will participate in the 2nd tier). According to the current legislation, by 2010 about 50% of Latvian funds nominated to pension insurance will be transferred to the 2nd tier of the pension system. That large amount of funds transferred to the 2nd tier implies that the Latvian social insurance system will face a greater risk (than the Lithuanian one) that the social insurance budget will not be capable to finance current benefits. In 2005 and 2006, the Lithuanian pension funds were more profitable facing a higher risk than did Latvian pension funds. The main factor of risk lies in the current Lithuanian legislation and in the possibility to invest 100% of funds in stocks. The less internationally diversified Latvian funds and few possibilities to invest internationally determine the lover profitability of Latvian pension funds and the higher concentration of profitability results of separate pension funds around the market average. The Lithuanian system of pensions is more hazardous than the Latvian.

The purpose of this paper is to compare the Latvian and the Lithuanian second tier pension systems, to determine the main elements of the second tier pension fund activity, to evaluate the impact of legal regulation, public opinion and investment preferences on the results of Latvian and Lithuanian pension fund activity and activity principles. According to the current legislation, the transitional period of implementation of the 2nd tier of the pension fund system in Lithuania will never end, and there will always be a probability that not all socially insured persons will participate in the 2nd tier of the pension system (in Latvia, about the year 2035, all socially insured persons will participate in the 2nd tier). According to the current legislation, by 2010 about 50% of Latvian funds nominated to pension insurance will be transferred to the 2nd tier of the pension system. That large amount of funds transferred to the 2nd tier implies that the Latvian social insurance system will face a greater risk (than the Lithuanian one) that the social insurance budget will not be capable to finance current benefits. In 2005 and 2006, the Lithuanian pension funds were more profitable facing a higher risk than did Latvian pension funds. The main factor of risk lies in the current Lithuanian legislation and in the possibility to invest 100% of funds in stocks. The less internationally diversified Latvian funds and few possibilities to invest internationally determine the lover profitability of Latvian pension funds and the higher concentration of profitability results of separate pension funds around the market average. The Lithuanian system of pensions is more hazardous than the Latvian.

The purpose of this paper is to compare the Latvian and the Lithuanian second tier pension systems, to determine the main elements of the second tier pension fund activity, to evaluate the impact of legal regulation, public opinion and investment preferences on the results of Latvian and Lithuanian pension fund activity and activity principles. According to the current legislation, the transitional period of implementation of the 2nd tier of the pension fund system in Lithuania will never end, and there will always be a probability that not all socially insured persons will participate in the 2nd tier of the pension system (in Latvia, about the year 2035, all socially insured persons will participate in the 2nd tier). According to the current legislation, by 2010 about 50% of Latvian funds nominated to pension insurance will be transferred to the 2nd tier of the pension system. That large amount of funds transferred to the 2nd tier implies that the Latvian social insurance system will face a greater risk (than the Lithuanian one) that the social insurance budget will not be capable to finance current benefits. In 2005 and 2006, the Lithuanian pension funds were more profitable facing a higher risk than did Latvian pension funds. The main factor of risk lies in the current Lithuanian legislation and in the possibility to invest 100% of funds in stocks. The less internationally diversified Latvian funds and few possibilities to invest internationally determine the lover profitability of Latvian pension funds and the higher concentration of profitability results of separate pension funds around the market average. The Lithuanian system of pensions is more hazardous than the Latvian.

We analyze the effects of a prevailing low interest rates regime on investment decisions of insurance companies and on the risk/return profile of participating life insurance policies with different contractually guaranteed minimum annual return. Our analysis is based on German legislation and a stylized insurance company with two cohorts of insured persons having different minimal return guarantees. Our findings shed some light on the non-trivial interrelation between profit distribution, minimum guarantees, and resulting profitability for the different cohorts. Moreover, we investigate the complex role of the risk reserve that allows insurance companies to redistribute profits in time and, less obviously, also between the cohorts.

In the occupational pension scheme, insured persons can demand cash payment of the withdrawal benefit before reaching the normal retirement age if they take up self-employment and are no longer subject to compulsory occupational pension provision. This provision of the Vested Termination Benefits Act ("Freizügigkeitsgesetz") may have undesirable indirect consequences that are not intended by the legislator. The study estimates the number of people who take up self-employment each year and draw capital from the second pillar, as well as the risk of losing capital from old-age provision due to economic difficulties. The study concludes a series of measures to reduce the risk of loss of retirement capital.

Insurance for hospital care in the US covers more than 75% of the pop & pays more than 50% of hospital bills paid from private income. Benefits to many insured persons are minimal & some benefits important to health are not regularly provided. Coinsurance, deductibles, experience rating & costs of nongroup commercial insurance limit the effectiveness of coverage. hospital costs are rising, but can be kept within the bounds by insurance benefits & payments designed to encourage quality of care, community review & control through planning & licensure, review & control of unnecessary hospital utilization & construction, & by recognition of the importance of org of Med care as a method of promoting quality & curtailing costs. AA.

The article sums up the main characteristic features of the multifund pension security system based on the experience of countries, where the model has been adopted. This is an analysis of possible portfolios, available to the insured persons to select from, their differences and their functioning in the course of time. Recommendations are made how to adopt some specific features of multifunds in the Bulgarian system, in order to optimize it. Three countries from Latin American (Chile, Peru, Colombia), one from Central America (Mexico) and five from Central and Eastern Europe (Lithuania, Latvia, Estonia, Slovakia and Hungary) are studied. The paper points out the main features of the system in Armenia – the latest country, having introduced such type of security – since 1.01.2014.

The case discusses the "Test-Achats" judgment of the ECJ in the overall context of the EU-non-discrimination principle in relations traditionally governed by private law and party autonomy. This principle has come from employment law and has been extended to consumption matters, at least with regard to such incriminated characteristics as gender, ethnic origin, and nationality. Even if the consequences of the ECJ judgment on the insurance market, including protection of insured persons themselves, by imposing "unisex"-tariffs from 21.12.2012 on may be viewed critically, the Court only draws the legal consequences of a prior decision of the EU legislator which cannot be delayed for an indefinite time span by the Member States (author's headnote).