News from Milliman

• Milliman analysis: Corporate pensions take a step back in November

  13 December 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In November, these plans experienced asset decreases of $8 billion and liability increases of $14 billion, resulting in a $22 billion decrease in pension funded status for the month. November’s decline in funded status follows two months of improvement and leaves the pension funding deficit at $335 billion.

• Milliman analysis: A second consecutive month of pension gains

  12 November 2010

  Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans.

• Milliman Group Health Insurance Survey indicates average 2011 rate increases of 10.2% for HMOs, 11.7% for PPOs

  27 October 2010

  Results from Milliman's 2010 Group Health Insurance Survey indicate estimated premium rate increases for January 2011 renewals will average 10.2% for Health Maintenance Organizations (HMOs) and 11.7% for Preferred Provider Organizations (PPOs).

• Milliman analysis: Volatile year for corporate pensions continues in September, this time with a positive swing

  08 October 2010

  Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans.

• Milliman explains assumptions and methodology used in Nebraska Medicaid budget exposure analysis

  17 September 2010

  Milliman has been retained by several states, most visibly Nebraska and Indiana, to calculate the budget exposure for state Medicaid agencies created by the Patient Protection and Affordable Care Act (PPACA).

• Milliman analysis indicates worst pension funded status in a decade

  14 September 2010

  Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans.

• Milliman expands presence in Asia

  07 September 2010

  Milliman, Inc., a leading global consulting and actuarial firm, today announced the hiring of five senior insurance consultants to meet the needs of the rapidly growing Asia-Pacific insurance markets.

• U.K.-based Phoenix Group selects Milliman for Actuarial Systems Transformation project

  02 September 2010

  Milliman, Inc. today announced that U.K.-based Phoenix Group has selected the company as provider for its Actuarial Systems Transformation project.

• U.K.-based Phoenix Group selects Milliman for Actuarial Systems Transformation project

  02 September 2010

  Milliman, Inc. today announced that U.K.-based Phoenix Group has selected the company as provider for its Actuarial Systems Transformation project.

• Milliman analysis indicates improved funded status in July after three months of decline

  12 August 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In July, defined benefit pension plans experienced asset increases of $32 billion and liability increases of $7 billion, resulting in a $25 billion increase in funded status.

• Early Milliman survey results indicate Group Health Insurance rates to rise 9% to 11% in 2011

  02 August 2010

  Seattle—Preliminary results from Milliman's 2010 Group Health Insurance Survey indicate premium rate increases continue to exceed the government's official rate of inflation and are higher than premium increases in recent years. The estimated January 2011 renewal increases are about 9.0% for health maintenance organizations (HMOs) and 11.0% for preferred provider organizations (PPOs). This marks the 17th time that Milliman has conducted the survey, the complete version of which will be available in late October.

• Milliman analysis indicates third consecutive month of declining pension funded status

  13 July 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In June, defined benefit pension plans experienced asset decreases of $19 billion and liability increases of $64 billion, resulting in an $83 billion deterioration in funding status.

• Milliman analysis indicates pension funded status declined $33 billion in April

  13 May 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In April, defined benefit pension plans experienced asset increases of $6 billion and liability increases of $39 billion, resulting in a $33 billion deterioration in funding status.

• Milliman indicates healthcare costs increase $1,303 in 2010 for family of four

  11 May 2010

  Seattle—Milliman, Inc., one of the premier global consulting and actuarial firms, announced today that average total medical spending for its "typical American family of four" reached $18,074, an increase of $1,303 over last year. The total-dollar increase is the highest in the history of this study.

• Milliman analysis shows modest increase in 2009 pension funding status despite strong investment returns

  20 April 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the 2010 Milliman Pension Funding Study, which analyzes the annual performance of 100 of the nation's largest defined benefit pension plans. In 2009, pensions experienced asset returns of 14.1%, compared with sponsors' expectation of 8.1%, but saw only modest funding increases overall. Despite a $112 billion improvement in market value, the pension funding deficit decreased by only $10.6 billion, leaving these 100 pensions with a shortfall of $243 billion at the end of the fiscal year. As of March 31, 2010, that shortfall had been further reduced to around $208 billion.

• Milliman MedInsight adds First Choice Health Network as client

  19 April 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced that First Choice Health Network (First Choice) will adopt Milliman MedInsight® as its healthcare data warehousing platform. First Choice is a Seattle-based physician and hospital owned company that has served Washington and the Northwest since 1985. First Choice's preferred provider organization (PPO) is recognized as the leading independent PPO network in Washington and Oregon. In addition to its leading PPO, First Choice offers Third Party Administration (TPA) services and will deploy MedInsight to support the rapid growth it has experienced in the past year.

• Milliman behavioral healthcare expert to address key aspects of the Mental Health and Addiction Equity Act of 2008

  15 April 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced it will host a free webinar on the latest aspects of the move toward mental health parity. On Thursday, April 29 at 2PM EDT, behavioral healthcare expert Steve Melek will host a 90-minute webinar to discuss compliance with the Wellstone-Domenici Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). Compliance with the Act is required for plan renewals on or after July 1, 2010, a few short months from now.

• Milliman identifies strategic considerations for the post-healthcare reform environment

  27 March 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced an initiative focused on providing meaningful insight that can help healthcare stakeholders effectively navigate healthcare reform.

• Milliman analysis: Pension funding up based on modest asset gains in February

  09 March 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In February, pensions experienced asset increases of $10 billion and liability decreases of $1 billion, resulting in an $11 billion increase in funding status. The relatively static month on the liability side emphasizes the crucial role interest rates will play in any return to full funding.

• Milliman analysis indicates repeal of medical malpractice caps will increase physician liability claim costs in Illinois by 18%

  22 February 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released results from a study of physician professional liability in the State of Illinois. A Feb. 4 decision by the Illinois Supreme Court overturned caps on non-economic damages awarded to claimants. This change in the tort law is likely to have financial implications for insurers in Illinois. Indemnity claim severities will increase by approximately 23% and the average cost that insurers expend defending claims will increase by 10%, relative to what these costs would have been had the cap held. The average overall increase in claim severity will be approximately 18%.

• Milliman analysis: Second consecutive month of increased pension funding cannot counteract overall deficit for 2009

  19 January 2010

  Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In December, pensions experienced asset increases of $5 billion and liability decreases of $32 billion, resulting in a $37 billion increase in funding status. December was the second consecutive month of improvement after six months of declining funding status. Overall, pension funding declined $31 billion during 2009. The funded ratio at the end of December stood at 77.7%, compared to 78.3% at the end of 2008.