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Lessons learned from anti-selection

by Cecil Bykerk, 2008-09 SOA President; President, CDBykerk Consulting Recently the Connecticut Pre-Existing Condition Insurance Plan changed its rating structure to a one- size-fits-all approach.  Reports on this change indicated that some older individuals would see reductions ranging up to 57 percent while individuals under the age of 45 would see increases.  It will be interesting to see what happens to enrollment as well as resulting financial experience. Back in 1996 and 1997, New York State revised its individual marketplace by requiring companies writing individual major medical policies to change its pricing approach to a uni-gender/uni-age approach, i.e., one-size-fits-all in addition to requiring guarantee issue.  This change applied to existing business as well as new business.  (more…)

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