Sample records for premium rate publication
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Pension Benefit Guaranty Corporation — These interest rates are used to value vested benefits for variable rate premium purposes as described in PBGC's regulation on Premium Rates (29 CFR Part 4006) and...
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2010-01-01
... 599C(e) of Public Law 101-513. (b) If the individual is not covered under this subpart for the full pay period, premiums are paid only for the days he or she is actually covered. The daily premium rate is an amount equal to the monthly premium rate multiplied by 12 and divided by 365. (c) The payments required...
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Insurance premiums and insurance coverage of near-poor children.
Hadley, Jack; Reschovsky, James D; Cunningham, Peter; Kenney, Genevieve; Dubay, Lisa
States increasingly are using premiums for near-poor children in their public insurance programs (Medicaid/SCHIP) to limit private insurance crowd-out and constrain program costs. Using national data from four rounds of the Community Tracking Study Household Surveys spanning the seven years from 1996 to 2003, this study estimates a multinomial logistic regression model examining how public and private insurance premiums affect insurance coverage outcomes (Medicaid/SCHIP coverage, private coverage, and no coverage). Higher public premiums are significantly associated with a lower probability of public coverage and higher probabilities of private coverage and uninsurance; higher private premiums are significantly related to a lower probability of private coverage and higher probabilities of public coverage and uninsurance. The results imply that uninsurance rates will rise if both public and private premiums increase, and suggest that states that impose or increase public insurance premiums for near-poor children will succeed in discouraging crowd-out of private insurance, but at the expense of higher rates of uninsurance. Sustained increases in private insurance premiums will continue to create enrollment pressures on state insurance programs for children.
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The Association of State Rate Review Authority with Health Insurance Premiums.
Ticse, Caroline
2015-10-01
Key findings. (1) Adjusted premiums in the individual market in states with prior approval authority combined with loss ratio requirements were lower in 2010-2013 than premiums in states with no rate review authority or file-and-use regulations only. (2) Adjusted premiums declined modestly in prior approval states while premiums increased in states with no rate review authority or with file-and-use regulations only. (3) The findings suggest that states with prior approval authority and loss ratio requirements constrained increases in health insurance premiums.
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Guy, Gery P; Adams, E Kathleen; Atherly, Adam
2012-01-01
The Patient Protection and Affordable Care Act (ACA) will substantially increase public health insurance eligibility and alter the costs of insurance coverage. Using Current Population Survey (CPS) data from the period 2000-2008, we examine the effects of public and private health insurance premiums on the insurance status of low-income childless adults, a population substantially affected by the ACA. Results show higher public premiums to be associated with a decrease in the probability of having public insurance and an increase in the probability of being uninsured, while increased private premiums decrease the probability of having private insurance. Eligibility for premium assistance programs and increased subsidy levels are associated with lower rates of uninsurance. The magnitudes of the effects are quite modest and provide important implications for insurance expansions for childless adults under the ACA.
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Effects of public premiums on children's health insurance coverage: evidence from 1999 to 2003.
Kenney, Genevieve; Hadley, Jack; Blavin, Fredric
This study uses 2000 to 2004 Current Population Survey data to examine the effects of public premiums on the insurance coverage of children whose family incomes are between 100% and 300% of the federal poverty level. The analysis employs multinomial logistic models that control for factors other than premium costs. While the magnitude of the estimated effects varies across models, the results consistently indicate that raising public premiums reduces enrollment in public programs, with some children who forgo public coverage having private coverage instead and others being uninsured. The results indicate that public premiums have larger effects when applied to lower-income families.
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Karaca-Mandic, Pinar; Fulton, Brent D; Hollingshead, Ann; Scheffler, Richard M
2015-08-01
States have varying degrees of review authority over health insurance carriers' rates, including prior approval authority over proposed rates and requirements for loss ratios, the proportion of premium revenues spent on medical claims. The Affordable Care Act (ACA) requires carriers in certain categories of health insurance to provide public justification for rate increases of 10 percent or more. We collected data on how states changed their rate review authority and requirements during 2010-13, the years immediately after enactment of the ACA, and we combined these data with carrier filings. We found that adjusted premiums in the individual market in states that had prior-approval authority combined with loss ratio requirements were lower in 2010-13 ($3,489) than premiums in states with no rate review authority or that had only file-and-use regulations, which gave the states no authority to block rate increases ($3,617). Adjusted premiums declined modestly in prior-approval states with loss ratio requirements, from $3,526 in 2010 to $3,452 in 2013, while premiums increased from $3,422 to $3,683 in states with no rate review authority or file-and-use regulations only. Our findings suggest that states with prior approval authority and loss ratio requirements constrained health insurance premium increases. Project HOPE—The People-to-People Health Foundation, Inc.
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Estimating the market premium in short term interest rates
Hansen, Hans Fredrik
2006-01-01
Looking at the term structure in the interest rate market one can’t help notice the evident market premium above the central banks target rate. What factors might decide this premium? By using different variations of simple regression models we see that the model is constantly lagging the real time series. Acknowledging the fact that market clearings often are subject to several equations; we’re better able to develop a sensible model using a simultaneous equilibrium model. The multiple equat...
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Estimating dual deposit insurance premium rates and forecasting non-performing loans: Two new models
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad
2015-01-01
Risky banks that endanger the stability of the financial system should pay higher deposit insurance premiums than healthy banks and other financial institutions that have shown good financial performance. It is necessary, therefore, to have at least a dual fair premium rate system. In this paper, we develop a model for calculating dual fair premium rates. Our definition of a fair premium rate in this paper is a rate that could cover the operational expenditures of the deposit insuring organiz...
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Murthy, Karna; Grobman, William A; Lee, Todd A; Holl, Jane L
2007-12-01
To estimate the association between changes in Illinois professional liability premiums for obstetrician-gynecologists and singleton primary cesarean delivery rates. Data from the National Center for Health Statistics were used to identify all singleton births between 37 weeks and 44 weeks of gestation occurring in Illinois from 1998 through 2003. Primary cesarean delivery rates for women delivered between 37 weeks and 44 weeks of gestation per 1,000 gravid women eligible to have a primary cesarean delivery were calculated for each Illinois county. The annual medical professional liability premium for each county in Illinois was represented by the reported professional liability insurance rate charges (adjusted to 2004 dollars) from the ISMIE Mutual Insurance Company. Separate analyses were conducted for nulliparous and multiparous women. The independent association between county-level primary cesarean delivery rates and the previous year's insurance premiums was evaluated using linear regression models. During the study period, 817,521 women were eligible for inclusion in the analysis. The county-level mean primary cesarean delivery rate increased from 126 to 163 per 1,000 (Pinsurance premiums also rose significantly (from $60,766 in 1997 to $83,167 in 2002, Pinsurance premium increase, the primary cesarean delivery rate increased by 15.7 per 1,000 for nulliparous women. This association also was evident for multiparous women, who had an increase in cesarean deliveries of 4.7 per 1,000 for every $10,000 increase. Higher rates of primary cesarean delivery are associated with increased medical professional liability premiums for obstetrician-gynecologists in Illinois. II.
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Fair premium rate of the deposit insurance system based on banks' creditworthiness
Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad
2017-01-01
Purpose: Deposit insurance is a key element in modern banking, as it guarantees the financial safety of deposits at depository financial institutions. It is necessary to have at least a dual fair premium rate system based on the creditworthiness of financial institutions, as considering a singular premium system for all banks will have a moral hazard. In this paper, we develop a theoretical as well as an empirical model for calculating dual fair premium rates. Design/methodology/approach: Our...
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2011-11-01
... section 1839 of the Act, requires that, starting on January 1,2007, the Part B premium a beneficiary pays... private sector costs of this notice fall below this threshold as well. Executive Order 13132 establishes... B premium rate for 2012 is $99.90, which is equal to 50 percent of the monthly actuarial rate for...
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2010-11-09
... the Act, requires that, starting on January 1, 2007, the Part B premium a beneficiary pays each month... private sector costs of this notice fall below this threshold as well. Executive Order 13132 establishes... B premium rate for 2011 is $115.40, which is equal to 50 percent of the monthly actuarial rate for...
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The Russian Landing Rate, Central Bank’s Policy Related Rate and Intermediation Premium
Directory of Open Access Journals (Sweden)
Chu V. Nguyen
2017-04-01
Full Text Available This paper illustrates asymmetries in the Russian intermediation premium as measured by the spread between the commercial lending rate and the Central Bank’s policy related rate. Empirical results have shown that the Russian intermediation premium adjusts to the threshold faster when the Central Bank’s policy related rates increase relative to lending rates as opposed to when the Central Bank’s policy related rates move in the opposite direction. The findings of this paper suggest that during the period when the Russian Federation faced formidable challenges from a sharp decline in oil prices and reduced access to international capital markets due to Western sanctions, the Central Bank of Russia was not effective in utilizing countercyclical monetary policy to achieve macroeconomic objectives and commercial banks exhibited predatory pricing behavior.
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Marton, James; Ketsche, Patricia G; Snyder, Angela; Adams, E Kathleen; Zhou, Mei
2015-01-01
Objective To estimate the effect of premium increases on the probability that near-poor and moderate-income children disenroll from public coverage. Data Sources Enrollment, eligibility, and claims data for Georgia's PeachCare for Kids™ (CHIP) program for multiple years. Study Design We exploited policy-induced variation in premiums generated by cross-sectional differences and changes over time in enrollee age, family size, and income to estimate the duration of enrollment as a function of the effective (per child) premium. We classify children as being of low, medium, or high illness severity. Principal Findings A dollar increase in the per-child premium is associated with a slight increase in a typical child's monthly probability of exiting coverage from 7.70 to 7.83 percent. Children with low illness severity have a significantly higher monthly baseline probability of exiting than children with medium or high illness severity, but the enrollment response to premium increases is similar across all three groups. Conclusions Success in achieving coverage gains through public programs is tempered by persistent problems in maintaining enrollment, which is modestly affected by premium increases. Retention is subject to adverse selection problems, but premium increases do not appear to significantly magnify the selection problem in this case. PMID:25130764
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Directory of Open Access Journals (Sweden)
Šuvaković Uroš
2007-01-01
Full Text Available Both techniques are based on the use of telephone as an instrument of interpersonal communication and any of mass media, mostly electronic (television, radio. They have not appeared with purpose of researching public opinion, but firstly for commercial purposes. A discussion in studio the show as a whole represents a 'verbal provocation' regarding the audience from which examinees emanate, where the role of a journalist is to create atmosphere, influence the course, etc. Regardless their specifics over-combination of events and mostly non-scientific motives, they are closer to a written questionnaire than interview regarding their characteristics. A fault is that it is impossible to make a questionnaire with more than one question, 2-3 at the most, and to avoid total confusion. It is clear that the questions giving at least basic data on examinee (gender, age, education etc will be omitted, and that is the reason why we do not know whom we have questioned. Stratification of obtained results by 'Vote System' technique is possible if only fixed telephony have been used, while it is impossible with OESMS Premium Rate' technique. The fact that examinee pays for answering the question eliminates or at least considerably reduces participation of poorer layers of citizens. On the other hand, organizers motivated firstly by earnings do not limit number of calls from the same telephone number although technical possibilities exist, which interested parties misuse (e.g. political parties in order to directly influence in favor of wanted option through systematic and organized calling of numbers. OESMS Premium Rate' technique also has the problem that the use of mobile telephones drops with increase of age of citizens in Serbia, and regarding that short messages (SMS in our country is possible to send only through mobile telephony and considering that Serbia is in the second place in the world regarding age of inhabitants, this reduces representation of
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Plan–Provider Integration, Premiums, and Quality in the Medicare Advantage Market
Frakt, Austin B; Pizer, Steven D; Feldman, Roger
2013-01-01
Objective. To investigate how integration between Medicare Advantage plans and health care providers is related to plan premiums and quality ratings. Data Source. We used public data from the Centers for Medicare and Medicaid Services (CMS) and the Area Resource File and private data from one large insurer. Premiums and quality ratings are from 2009 CMS administrative files and some control variables are historical. Study Design. We estimated ordinary least-squares models for premiums and plan quality ratings, with state fixed effects and firm random effects. The key independent variable was an indicator of plan–provider integration. Data Collection. With the exception of Medigap premium data, all data were publicly available. We ascertained plan–provider integration through examination of plans’ websites and governance documents. Principal Findings. We found that integrated plan–providers charge higher premiums, controlling for quality. Such plans also have higher quality ratings. We found no evidence that integration is associated with more generous benefits. Conclusions. Current policy encourages plan–provider integration, although potential effects on health insurance products and markets are uncertain. Policy makers and regulators may want to closely monitor changes in premiums and quality after integration and consider whether quality improvement (if any) justifies premium increases (if they occur). PMID:23800017
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Plan-provider integration, premiums, and quality in the Medicare Advantage market.
Frakt, Austin B; Pizer, Steven D; Feldman, Roger
2013-12-01
To investigate how integration between Medicare Advantage plans and health care providers is related to plan premiums and quality ratings. We used public data from the Centers for Medicare and Medicaid Services (CMS) and the Area Resource File and private data from one large insurer. Premiums and quality ratings are from 2009 CMS administrative files and some control variables are historical. We estimated ordinary least-squares models for premiums and plan quality ratings, with state fixed effects and firm random effects. The key independent variable was an indicator of plan-provider integration. With the exception of Medigap premium data, all data were publicly available. We ascertained plan-provider integration through examination of plans' websites and governance documents. We found that integrated plan-providers charge higher premiums, controlling for quality. Such plans also have higher quality ratings. We found no evidence that integration is associated with more generous benefits. Current policy encourages plan-provider integration, although potential effects on health insurance products and markets are uncertain. Policy makers and regulators may want to closely monitor changes in premiums and quality after integration and consider whether quality improvement (if any) justifies premium increases (if they occur). © Health Research and Educational Trust.
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The impact of CHIP premium increases on insurance outcomes among CHIP eligible children.
Nikolova, Silviya; Stearns, Sally
2014-03-03
Within the United States, public insurance premiums are used both to discourage private health policy holders from dropping coverage and to reduce state budget costs. Prior research suggests that the odds of having private coverage and being uninsured increase with increases in public insurance premiums. The aim of this paper is to test effects of Children's Health Insurance Program (CHIP) premium increases on public insurance, private insurance, and uninsurance rates. The fact that families just below and above a state-specific income cut-off are likely very similar in terms of observable and unobservable characteristics except the premium contribution provides a natural experiment for estimating the effect of premium increases. Using 2003 Medical Expenditure Panel Survey (MEPS) merged with CHIP premiums, we compare health insurance outcomes for CHIP eligible children as of January 2003 in states with a two-tier premium structure using a cross-sectional regression discontinuity methodology. We use difference-in-differences analysis to compare longitudinal insurance outcomes by December 2003. Higher CHIP premiums are associated with higher likelihood of private insurance. Disenrollment from CHIP in response to premium increases over time does not increase the uninsurance rate. When faced with higher CHIP premiums, private health insurance may be a preferable alternative for CHIP eligible families with higher incomes. Therefore, competition in the insurance exchanges being formed under the Affordable Care Act could enhance choice.
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2013-10-30
... section 1839 of the Act, requires that, starting on January 1, 2007, the Part B premium a beneficiary pays... governments or on the private sector. Executive Order 13132 establishes certain requirements that an agency... B premium rate for all enrollees for 2014 is $104.90, which is equal to 50 percent of the monthly...
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Consumer Protection and Premium Rate Services In Denmark
DEFF Research Database (Denmark)
Trzaskowski, Jan
2006-01-01
The regulation of the telecommunication industry in Denmark is quite liberal. There are no requirements to register with national authorities when providing telecommunication services or Premium Rate Services. Only Network Operators, who want to make use of the scarce frequency resources, must re...... active in securing compliance with the law....
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Pricing Rate of Return Guarantees in Regular Premium Unit Linked Insurance
Schrager, D.F.; Pelsser, A.
2004-01-01
We derive general pricing formulas for Rate of Return Guarantees in Regular Premium Unit Linked Insurance under stochastic interest rates. Our main contribution focusses on the effect of stochastic interest rates. First, we show the effect of stochastic interest rates can be interpreted as, what is
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42 CFR 423.780 - Premium subsidy.
2010-10-01
...) MEDICARE PROGRAM VOLUNTARY MEDICARE PRESCRIPTION DRUG BENEFIT Premiums and Cost-Sharing Subsidies for Low... 42 Public Health 3 2010-10-01 2010-10-01 false Premium subsidy. 423.780 Section 423.780 Public...-service plans or 1876 cost plans) in a PDP region in the reference month. (ii) Premium amounts. The...
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42 CFR 60.14 - The insurance premium.
2010-10-01
... 42 Public Health 1 2010-10-01 2010-10-01 false The insurance premium. 60.14 Section 60.14 Public... LOAN PROGRAM The Loan § 60.14 The insurance premium. (a) General. (1) The Secretary insures each lender... lender an insurance premium. The insurance premium is due to the Secretary on the date of disbursement of...
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RISK PREMIUM IN MOTOR VEHICLE INSURANCE
Directory of Open Access Journals (Sweden)
BANU ÖZGÜREL
2013-06-01
Full Text Available The pure premium or risk premium is the premium that would exactly meet the expected cost of the risk covered ignoring management expenses, commissions, contingency loading, etc. Claim frequency rate and mean claim size are required for estimation in calculating risk premiums. In this study, we discussed to estimate claim frequency rate and mean claim size with several methods and calculated risk premiums. Data, which supported our study, is provided by insurance company involving with motor vehicle insurance.
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Gabel, Jon R; Whitmore, Heidi; Green, Matthew; Stromberg, Sam T; Weinstein, Daniel S; Oran, Rebecca
2015-12-01
Premiums for health insurance plans offered through the federally facilitated and state-based Marketplaces remained steady or increased only modestly from 2014 to 2015. We used data from the Marketplaces, state insurance departments, and insurer websites to examine patterns of premium pricing and the factors behind these patterns. Our data came from 2,964 unique plans offered in 2014 and 4,153 unique plans offered in 2015 in forty-nine states and the District of Columbia. Using descriptive and multivariate analysis, we found that the addition of a carrier in a rating area lowered average premiums for the two lowest-cost silver plans and the lowest-cost bronze plan by 2.2 percent. When all plans in a rating area were included, an additional carrier was associated with an average decline in premiums of 1.4 percent. Plans in the Consumer Operated and Oriented Plan Program and Medicaid managed care plans had lower premiums and average premium increases than national commercial and Blue Cross and Blue Shield plans. On average, premiums fell by an appreciably larger amount for catastrophic and bronze plans than for gold plans, and premiums for platinum plans increased. This trend of low premium increases overall is unlikely to continue, however, as insurers are faced with mounting medical claims. Project HOPE—The People-to-People Health Foundation, Inc.
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Properties of Foreign Exchange Risk Premiums
DEFF Research Database (Denmark)
Sarno, Lucio; Schneider, Paul; Wagner, Christian
2012-01-01
We study the properties of foreign exchange risk premiums that can explain the forward bias puzzle, defined as the tendency of high-interest rate currencies to appreciate rather than depreciate. These risk premiums arise endogenously from the no-arbitrage condition relating the term structure of ...... and are closely related to global risk aversion, the business cycle, and traditional exchange rate fundamentals.......We study the properties of foreign exchange risk premiums that can explain the forward bias puzzle, defined as the tendency of high-interest rate currencies to appreciate rather than depreciate. These risk premiums arise endogenously from the no-arbitrage condition relating the term structure...... of interest rates and exchange rates. Estimating affine (multi-currency) term structure models reveals a noticeable tradeoff between matching depreciation rates and accuracy in pricing bonds. Risk premiums implied by our global affine model generate unbiased predictions for currency excess returns...
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2011-06-29
... set but prior to January 1 of the plan year, including book rates filed with the state. Once SSSGs... after rates were set but before January 1 of the plan year, such as new book rates filed in the state in.... OPM's intention is to keep FEHB premiums stable and sustainable using this more transparent...
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42 CFR 403.254 - Calculation of premiums.
2010-10-01
... rate credits. (4) Unearned premium reserve means the portion of gross premiums due that provide for...) Written premiums for the period; plus— (ii) The total premium reserve at the beginning of the period; less— (iii) The total premium reserve at the end of the period. (2) Written premiums in a period means— (i...
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How Pensions Contribute to the Premium Paid to Experienced Public School Teachers
McGee, Joshua B.; Winters, Marcus A.
2017-01-01
Many argue that public school systems should stop linking teachers' salaries so closely to their years of experience. However, the effect of deferred retirement compensation on the premium paid to experienced teachers has, to date, been underappreciated. To shed more light on this issue, we calculate the total compensation earned by teachers in…
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2011-06-29
... CFR Parts 1602, 1615, et al. Federal Employees Health Benefits Program: New Premium Rating Method for... Part 890; 48 CFR Parts 1602, 1615, 1632, and 1652 RIN 3206-AM39 Federal Employees Health Benefits..., 2011 (76 FR 36857). The document amends the Federal Employees Health Benefits (FEHB) regulations at 5...
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Foreign exchange risk premium determinants: case of Armenia
Czech Academy of Sciences Publication Activity Database
Poghosyan, Tigran; Kočenda, E.
-, č. 811 (2006), s. 1-17 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : “forward premium” puzzle * exchange rate risk * time-varying risk premium Subject RIV: AH - Economics http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp811.pdf
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CHIP premiums, health status, and the insurance coverage of children.
Marton, James; Talbert, Jeffery C
2010-01-01
This study uses the introduction of premiums into Kentucky's Children's Health Insurance Program (KCHIP) to examine whether the enrollment impact of new premiums varies by child health type. We also examine the extent to which children find alternative coverage after premium nonpayment. Public insurance claims data suggest that those with chronic health conditions are less likely to leave public coverage. We find little evidence of a differential impact of premiums on enrollment among the chronically ill. Our survey of nonpayers shows that 56% of responding families found alternative private or public health coverage for their children after losing CHIP.
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Public's willingness to pay a premium for bioethanol in Korea: A contingent valuation study
International Nuclear Information System (INIS)
Lim, Seul-Ye; Kim, Hyo-Jin; Yoo, Seung-Hoon
2017-01-01
Bioethanol (BE), a renewable energy, is well-known to mitigate the greenhouse gas emissions compared with conventional gasoline. Thus, the Korean government is considering the introduction of a BE mandate in which the legal blend is 5% BE and 95% gasoline (E5) until 2020 in order to expand BE use. We should examine the public acceptability of the introduction, which incurs a rise in the fuel price. This study attempts to assess the public's willingness to pay (WTP) a premium for introducing the E5 program in Korea. To this end, a contingent valuation (CV) survey of 1000 randomly selected consumers was conducted in 2014 across the nation. We used a one-and-one-half-bound dichotomous choice question in the CV survey and applied the spike model to handle the WTP data with zeros. The mean WTP, a premium for the E5 per liter, is estimated to be KRW 290 (USD 0.27), which is statistically meaningful at the 1% level. This value amounts to 15.6% of the gasoline retail price in 2014 (KRW 1856 or USD 1.70) and can be interpreted as the external benefit of BE. We can conclude that gasoline consumers in Korea are ready to pay a significant premium for the E5. - Highlights: • Bioethanol (BE) can contribute to the reduction of greenhouse gases emissions. • Korea will introduce a BE mandate of 5% BE and 95% gasoline (E5) until 2020. • We assess the public’s willingness to pay (WTP) a premium for the introduction. • The mean additional WTP for E5 is estimated to be KRW 290 (USD 0.26) per liter. • This value amounts to 15.6% of the gasoline retail price (KRW 1856 or USD 1.70).
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2011-06-23
... contingency reserve accounts or factored into reduced premiums for enrollees in the following plan year. Under...-TCR community rated plans' contingency reserves. Issuers failing to meet the FEHB-specific MLR... definition of medical loss ratio by HHS in December 2010, upon which this rule relies. Further, plans have...
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An Auto Telematics System For Insurance Premium Rating amp Pricing.
Directory of Open Access Journals (Sweden)
Irode Philip Luvuga
2017-12-01
Full Text Available Insurance telematics is a new technology that has been poised to transform and change the way we buy and underwrite insurance by 2030. Insurance Premium Rate is a major variable that determines if a client will buy or take up a policy cover or not. With the current stiff competition being felt in the Industry the local insurance industry continues to suffer big losses due to unhealthy business practice of competitor undercutting among the insurers to attract more clients but exposing the underwriting companies to potential high risks. This in most cases means that the product is totally underpriced to the extent that it would be uneconomical and unsustainable in the long run for the insurance firms. This research outlines a technology defined model that should be used to determine the ideal premium rate payable in the Motor Insurance industry taking into account all the variables and the risk exposure of the policy holder. The system model is able to determine the insurable risk based on the drivers attributes and profile location of the vehicle in relation to risk geo-locations map monitoring the driving parameters of the vehicle by the driver and the driving style. This enable the insurance company determines costs associated with the risk cover based on factual facts which are scientifically determined by the real risks.
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14 CFR 198.13 - Premium insurance-payment of premiums.
2010-01-01
... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Premium insurance-payment of premiums. 198... (CONTINUED) WAR RISK INSURANCE AVIATION INSURANCE § 198.13 Premium insurance—payment of premiums. The insured must pay the premium for insurance issued under this part within the stated period after receipt of...
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Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches
Directory of Open Access Journals (Sweden)
Mirela CRISTEA
2008-01-01
Full Text Available The focus of this article is to present the modelling tehcniques used on international practice in the evaluation of right life premiums based. The knowledge and models obtained have a common element of mortality risk indicators but these are varied in different parts of the world. The common elements of these studies and models are generally based on a series of indicators which mainly point out their probability of survival and they are named the mortality indicators. These indicators represent the basis for the calculation of the premiums quotes and for the elaboration by the insurers of premium tables. The benefit for the policyholder is to obtain insurance at a fair and competitive price and for the insurer, to maintain the experience of its portfolio in line with mortality assumptions.
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2010-04-14
... DEPARTMENT OF HEALTH AND HUMAN SERVICES Office of the Secretary 45 CFR Parts 146 and 148 Premium Review Process; Request for Comments Regarding Section 2794 of the Public Health Service Act AGENCY..., which added Section 2794 to the Public Health Service Act (the PHS Act). Section 2794 of the PHS Act...
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7 CFR 91.39 - Premium hourly fee rates for overtime and legal holiday service.
2010-01-01
... legal holidays or what constitutes overtime service at a particular Science and Technology laboratory is... Premium hourly fee rates for overtime and legal holiday service. (a) When analytical testing in a Science... overtime work. When analytical testing in a Science and Technology facility requires the services of...
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The case for risk-based premiums in public health insurance.
Zweifel, Peter; Breuer, Michael
2006-04-01
Uniform, risk-independent insurance premiums are accepted as part of 'managed competition' in health care. However, they are not compatible with optimality of health insurance contracts in the presence of both ex ante and ex post moral hazard. They have adverse effects on insurer behaviour even if risk adjustment is taken into account. Risk-based premiums combined with means-tested, tax-financed transfers are advocated as an alternative.
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Rating a Wildfire Mitigation Strategy with an Insurance Premium: A Boreal Forest Case Study
Directory of Open Access Journals (Sweden)
Georgina Rodriguez-Baca
2016-05-01
Full Text Available Risk analysis entails the systematic use of historical information to determine the frequency, magnitude and effects of unexpected events. Wildfire in boreal North America is a key driver of forest dynamics and may cause very significant economic losses. An actuarial approach to risk analysis based on cumulative probability distributions was developed to reduce the adverse effects of wildfire. To this effect, we developed spatially explicit landscape models to simulate the interactions between harvest, fire and forest succession over time in a boreal forest of eastern Canada. We estimated the amount of reduction of timber harvest necessary to build a buffer stock of sufficient size to cover fire losses and compared it to an insurance premium estimated in units of timber volume from the probability of occurrence and the amount of damage. Overall, the timber harvest reduction we applied was much more costly than the insurance premium even with a zero interest rate. This is due to the fact that the insurance premium is directly related to risk while the timber harvest reduction is not and, as a consequence, is much less efficient. These results, especially the comparison with a standard indicator such as an insurance premium, have useful implications at the time of choosing a mitigation strategy to protect timber supplies against risk without overly diminishing the provision of services from the forest. They are also promoting the use of insurance against disastrous events in forest management planning.
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7 CFR 400.710 - Preemption and premium taxation.
2010-01-01
... 7 Agriculture 6 2010-01-01 2010-01-01 false Preemption and premium taxation. 400.710 Section 400... of Policies and Rates of Premium § 400.710 Preemption and premium taxation. A policy or plan of insurance that is approved by the Board for FCIC reinsurance is preempted from state and local taxation. ...
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How a new 'public plan' could affect hospitals' finances and private insurance premiums.
Dobson, Allen; DaVanzo, Joan E; El-Gamil, Audrey M; Berger, Gregory
2009-01-01
Two key health reform bills in the House of Representatives and Senate include the option of a "public plan" as an additional source of health coverage. At least initially, the plan would primarily be structured to cover many of the uninsured and those who now have individual coverage. Because it is possible, and perhaps even likely, that this new public payer would pay less than private payers for the same services, such a plan could negatively affect hospital margins. Hospitals may attempt to recoup losses by shifting costs to private payers. We outline the financial pressures that hospitals and private payers could experience under various assumptions. High uninsured enrollment in a public plan would bolster hospital margins; however, this effect is reversed if the privately insured enter a public plan in large proportions, potentially stressing the hospital industry and increasing private insurance premiums.
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Obstetricians' rising liability insurance premiums and inductions at late preterm gestations.
Murthy, Karna; Grobman, William A; Lee, Todd A; Holl, Jane L
2009-04-01
To estimate the association between professional liability insurance premiums for obstetricians and late preterm induction (LPI) rates. Data from the National Center for Health Statistics were used to identify all Illinois women pregnant with singletons at 34 weeks' gestation from 1991 to 2003. The independent association between LPI (induction between 34 and 37 weeks' gestation) rates and the previous year's obstetric malpractice insurance premiums was evaluated using linear regression. The mean annual LPI rate (5.4/1000 in 1991 to 15.2/1000 in 2003, P insurance premiums ($55,480 to $110,613, P insurance premium. Rising premiums are associated with increased frequency of LPI among women with singleton gestations.
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ACA Marketplace premiums and competition among hospitals and physician practices.
Polyakova, Maria; Bundorf, M Kate; Kessler, Daniel P; Baker, Laurence C
2018-02-01
To examine the association between annual premiums for health plans available in Federally Facilitated Marketplaces (FFMs) and the extent of competition and integration among physicians and hospitals, as well as the number of insurers. We used observational data from the Center for Consumer Information and Insurance Oversight on the annual premiums and other characteristics of plans, matched to measures of physician, hospital, and insurer market competitiveness and other characteristics of 411 rating areas in the 37 FFMs. We estimated multivariate models of the relationship between annual premiums and Herfindahl-Hirschman indices of hospitals and physician practices, controlling for the number of insurers, the extent of physician-hospital integration, and other plan and rating area characteristics. Premiums for Marketplace plans were higher in rating areas in which physician, hospital, and insurance markets were less competitive. An increase from the 10th to the 90th percentile of physician concentration and hospital concentration was associated with increases of $393 and $189, respectively, in annual premiums for the Silver plan with the second lowest cost. A similar increase in the number of insurers was associated with a $421 decrease in premiums. Physician-hospital integration was not significantly associated with premiums. Premiums for FFM plans were higher in markets with greater concentrations of hospitals and physicians but fewer insurers. Higher premiums make health insurance less affordable for people purchasing unsubsidized coverage and raise the cost of Marketplace premium tax credits to the government.
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Szymańska, Anna
2017-01-01
One of the basic variables used in the process of tariff calculation of premiums in motor liability insurance is the age of the insured. In this type of insurance offered by insurers operating on the Polish market, this variable is taken into account in the ratemaking by discounts and increases in assigned premium, known as the net premiums rates. The aim of this work is to propose a method of rate estimation of net premiums in the groups of the motor third liability insurance portfolio of in...
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Cantillo, John R
2010-03-01
Local school districts are often one of the largest, if not the largest, employers in their respective communities. Like many large employers, school districts offer health insurance to their employees. There is a lack of information about the rate of health insurance premiums in US school districts relative to other employers. To assess the change in the costs of healthcare insurance in the 5 largest public school districts in the United States, between 2004 and 2008, as representative of large public employers in the country. Data for this study were drawn exclusively from a survey sent to the 5 largest public school districts in the United States. The survey requested responses on 3 data elements for each benefit plan offered from 2004 through 2008; these included enrollment, employee costs, and employer costs. The premium growth for the 5 largest school districts has slowed down and is consistent with other purchasers-Kaiser/Health Research & Educational Trust and the Federal Employee Health Benefit Program. The average increase in health insurance premium for the schools was 5.9% in 2008, and the average annual growth rate over the study period was 7.5%. For family coverage, these schools provide the most generous employer contribution (80.8%) compared with the employer contribution reported by other employers (73.5%) for 2008. Often the largest employers in their communities, school districts demonstrate a commitment to provide choice of benefits and affordability for employees and their families. Despite constraints typical of public employers, the 5 largest school districts in the United States have decelerated in premium growth consistent with other purchasers, albeit at a slower pace.
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75 FR 9247 - Single Family Mortgage Insurance Premium, Single Family
2010-03-01
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5376-N-13] Single Family Mortgage Insurance Premium, Single Family AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice... is soliciting public comments on the subject proposal. Lenders use the Single Family Premium...
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Risk Premium and Central Bank Intervention
Pinar Ozlu
2006-01-01
This study examines the relation between the risk premium and central bank intervention. Forward rates are calculated for the Turkish Lira-USD exchange market and then the effect of central bank intervention on the risk premium is estimated. Using high quality daily intervention data from the Central Bank of Turkey as well as implied forward rates, an MA (21)-GARCH (1,1) model is estimated. Both purchases and sales of US dollars by the Central Bank of Turkey appear to have no effect on the si...
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Cantillo, John R.
2010-01-01
Background Local school districts are often one of the largest, if not the largest, employers in their respective communities. Like many large employers, school districts offer health insurance to their employees. There is a lack of information about the rate of health insurance premiums in US school districts relative to other employers. Objective To assess the change in the costs of healthcare insurance in the 5 largest public school districts in the United States, between 2004 and 2008, as representative of large public employers in the country. Methods Data for this study were drawn exclusively from a survey sent to the 5 largest public school districts in the United States. The survey requested responses on 3 data elements for each benefit plan offered from 2004 through 2008; these included enrollment, employee costs, and employer costs. Results The premium growth for the 5 largest school districts has slowed down and is consistent with other purchasers—Kaiser/Health Research & Educational Trust and the Federal Employee Health Benefit Program. The average increase in health insurance premium for the schools was 5.9% in 2008, and the average annual growth rate over the study period was 7.5%. For family coverage, these schools provide the most generous employer contribution (80.8%) compared with the employer contribution reported by other employers (73.5%) for 2008. Conclusions Often the largest employers in their communities, school districts demonstrate a commitment to provide choice of benefits and affordability for employees and their families. Despite constraints typical of public employers, the 5 largest school districts in the United States have decelerated in premium growth consistent with other purchasers, albeit at a slower pace. PMID:25126311
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The impact of HMO competition on private health insurance premiums, 1985-1992.
Wickizer, T M; Feldstein, P J
1995-01-01
A critical unresolved health policy question is whether competition stimulated by managed care organizations can slow the rate of growth in health care expenditures. We analyzed the competitive effects of health maintenance organizations (HMOs) on the growth in fee-for-service indemnity insurance premiums over the period 1985-1992 using premium data on 95 groups that had policies with a single, large, private insurance carrier. We used multiple regressions to estimate the effect of HMO market penetration on insurance premium growth rates. HMO penetration had a statistically significant (p market whose HMO penetration rate increased by 25% (e.g., from 10% to 12.5%), the real rate of growth in premiums would be approximately 5.9% instead of 7.0%. Our findings indicate that competitive strategies, relying on managed care, have significant potential to reduce health insurance premium growth rates, thereby resulting in substantial cost savings over time.
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Guy, Gery P; M Johnston, Emily; Ketsche, Patricia; Joski, Peter; Adams, E Kathleen
2017-03-01
Numerous states have implemented policies expanding public insurance eligibility or subsidizing private insurance for parents. To assess the impact of parental health insurance expansions from 1999 to 2012 on the likelihood that parents are insured; their children are insured; both the parent and child within a family unit are insured; and the type of insurance. Cross-sectional analysis of the 2000-2013 March supplements to the Current Population Survey, with data from the Medical Expenditure Panel Survey-Insurance Component and the Area Resource File. Cross-state and within-state multivariable regression models estimated the effects of health insurance expansions targeting parents using 2-way fixed effect modeling and difference-in-difference modeling. All analyses controlled for household, parent, child, and local area characteristics that could affect insurance status. Expansions increased parental coverage by 2.5 percentage points, and increased the likelihood of both parent and child being insured by 2.1 percentage points. Substantial variation was observed by type of expansion. Public expansions without premiums and special subsidized plan expansions had the largest effects on parental coverage and increased the likelihood of jointly insuring both the parent and child. Higher premiums were a substantial deterrent to parents' insurance. Our findings suggest that premiums and the type of insurance expansion can have a substantial impact on the insurance status of the family. These findings can help inform states as they continue to make decisions about expanding Medicaid under the Affordable Care Act to cover all family members.
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29 CFR 778.204 - “Clock pattern” premium pay.
2010-07-01
... 29 Labor 3 2010-07-01 2010-07-01 false âClock patternâ premium pay. 778.204 Section 778.204 Labor... Excluded From the âRegular Rateâ Extra Compensation Paid for Overtime § 778.204 “Clock pattern” premium pay... pursuance of an applicable employment contract or collective bargaining agreement,” and the rates of pay and...
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Decreasing Relative Risk Premium
DEFF Research Database (Denmark)
Hansen, Frank
relative risk premium in the small implies decreasing relative risk premium in the large, and decreasing relative risk premium everywhere implies risk aversion. We finally show that preferences with decreasing relative risk premium may be equivalently expressed in terms of certain preferences on risky......We consider the risk premium demanded by a decision maker with wealth x in order to be indifferent between obtaining a new level of wealth y1 with certainty, or to participate in a lottery which either results in unchanged present wealth or a level of wealth y2 > y1. We define the relative risk...... premium as the quotient between the risk premium and the increase in wealth y1–x which the decision maker puts on the line by choosing the lottery in place of receiving y1 with certainty. We study preferences such that the relative risk premium is a decreasing function of present wealth, and we determine...
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Downside Variance Risk Premium
Feunou, Bruno; Jahan-Parvar, Mohammad; Okou, Cedric
2015-01-01
We propose a new decomposition of the variance risk premium in terms of upside and downside variance risk premia. The difference between upside and downside variance risk premia is a measure of skewness risk premium. We establish that the downside variance risk premium is the main component of the variance risk premium, and that the skewness risk premium is a priced factor with significant prediction power for aggregate excess returns. Our empirical investigation highlights the positive and s...
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Optimal Premium Pricing for a Heterogeneous Portfolio of Insurance Risks
Directory of Open Access Journals (Sweden)
Athanasios A. Pantelous
2009-01-01
Full Text Available The paper revisits the classical problem of premium rating within a heterogeneous portfolio of insurance risks using a continuous stochastic control framework. The portfolio is divided into several classes where each class interacts with the others. The risks are modelled dynamically by the means of a Brownian motion. This dynamic approach is also transferred to the design of the premium process. The premium is not constant but equals the drift of the Brownian motion plus a controlled percentage of the respective volatility. The optimal controller for the premium is obtained using advanced optimization techniques, and it is finally shown that the respective pricing strategy follows a more balanced development compared with the traditional premium approaches.
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Premium inflation in the Irish private health insurance market: drivers and consequences.
Turner, B
2013-12-01
Nearly half of the Irish population is covered by private health insurance. In recent years, premium inflation has been significantly ahead of overall inflation and has been accelerating. This has contributing to a drop in the numbers insured since the peak in 2008. The fall in the numbers with private health insurance also has implications for the public health system. Factors behind this premium inflation include rising charges for beds in public hospitals, increasing volume of treatments and increasing quality of service and cover. While some progress has been made by insurers on reducing fees paid to consultants and private hospitals, unless the quantity or quality of care are addressed then premium inflation is unlikely to abate.
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The Effect of Massachusetts' Health Reform on Employer-Sponsored Insurance Premiums.
Cogan, John F; Hubbard, R Glenn; Kessler, Daniel
2010-01-01
In this paper, we use publicly available data from the Medical Expenditure Panel Survey - Insurance Component (MEPS-IC) to investigate the effect of Massachusetts' health reform plan on employer-sponsored insurance premiums. We tabulate premium growth for private-sector employers in Massachusetts and the United States as a whole for 2004 - 2008. We estimate the effect of the plan as the difference in premium growth between Massachusetts and the United States between 2006 and 2008-that is, before versus after the plan-over and above the difference in premium growth for 2004 to 2006. We find that health reform in Massachusetts increased single-coverage employer-sponsored insurance premiums by about 6 percent, or $262. Although our research design has important limitations, it does suggest that policy makers should be concerned about the consequences of health reform for the cost of private insurance.
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2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Interest rate increase and payment... Interest rate increase and payment of mortgage insurance premiums on mortgages under § 221.60 and § 221.65... continuation of a below market interest rate, interest on such mortgage shall be computed by the mortgagee at...
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Tax and the Use of Historic Returns in Estimating the Equity Risk Premium
Armitage, Seth
1998-01-01
The paper analyses the use of a historic risk premium as a proxy for the current premium allowing current tax rates to differ from historic rates. If tax rates are assumed constant, adjustments to the CAPM for an imputation system make the CAPM and cash flows to be discounted consistently with respect to tax, but do not model any effect of tax on the cost of equity. If tax rates are allowed to vary and a historic premium is used, the cost of equity is affected by the level of tax at which inv...
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English, Wayne; Williams, Brandon; Scott, John; Morton, John
2016-06-01
Currently, of the 51 state health exchanges operating under the Affordable Care Act, only 23 include benchmark plans that cover bariatric surgery coverage. Bariatric surgery coverage is not considered an essential health benefit in 28 state exchanges, and this lack of coverage has a discriminatory and detrimental impact on millions of Americans participating in state exchanges that do not provide bariatric surgery coverage. We examined 3 state exchanges in which a portion of their plans provided coverage for bariatric surgery to determine if bariatric surgery coverage is correlated with premium costs. State health exchanges; United States. Data from the 2015 state exchange plans were analyzed using information from the Centers for Medicare & Medicaid Services' Individual Market Landscape file and Benefits and Cost Sharing public use files. Only 3 states (Oklahoma, Oregon, and Virginia) in the analysis have 1 or more rating regions in which a portion of the plans cover bariatric surgery. In Oklahoma and Oregon, the average monthly premiums for all bronze, silver, and gold coverage levels are higher for plans covering bariatric surgery. Only 1 of these states included platinum plans that cover bariatric surgery. The average difference in premiums was between $1 to $45 higher in Oklahoma, and $18 to $32 higher in Oregon. Conversely, in Virginia, the average monthly premiums are between $2 and $21 lower for each level for plans covering bariatric surgery. Monthly premiums for plans covering versus not covering bariatric surgery ranged from 6% lower to 15% higher in the same geographic rating region. Across all 3 states in the sample, the average monthly premiums do not differ consistently on the basis of whether the state exchange plans cover bariatric surgery. Copyright © 2016 American Society for Bariatric Surgery. Published by Elsevier Inc. All rights reserved.
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NI PUTU MIRAH PERMATASARI; I NYOMAN WIDANA; KARTIKA SARI
2016-01-01
The aim of this research was to get the formula of premium reserves through the premium sufficiency method. Premium reserve is the amount of fund that is collected by the insurance company in preparation for the claim’s payment. Premium sufficiency method is gross premium calculation. To construct that formula, this research used Tabel Mortalitas Indonesia (TMI) 2011, interest rate 2.5% and cost of alpha %. Based on simulation result in men premium reserve value of age 1 of 56 years propotio...
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24 CFR 232.805 - Insurance premiums.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 232.805 Section... FACILITIES Contract Rights and Obligations Premiums § 232.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...
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Directory of Open Access Journals (Sweden)
NI PUTU MIRAH PERMATASARI
2016-08-01
Full Text Available The aim of this research was to get the formula of premium reserves through the premium sufficiency method. Premium reserve is the amount of fund that is collected by the insurance company in preparation for the claim’s payment. Premium sufficiency method is gross premium calculation. To construct that formula, this research used Tabel Mortalitas Indonesia (TMI 2011, interest rate 2.5% and cost of alpha %. Based on simulation result in men premium reserve value of age 1 of 56 years propotional with insured periods, but after56 years enhancement of premium reserve value.
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24 CFR 241.805 - Insurance premiums.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 241.805 Section... Without a HUD-Insured or HUD-Held Mortgage Premiums § 241.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...
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Premium Auctions and Risk Preferences
Hu, A.; Offerman, T.J.S.; Zou, L.
2010-01-01
In a premium auction, the seller offers some "pay back", called premium, to the highest bidders. This paper investigates how the performance of such premium tactic is related to the participant's risk preferences. By developing an English premium auction model with symmetric interdependent values,
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Optimal Premium Pricing for a Heterogeneous Portfolio of Insurance Risks
Pantelous, Athanasios A.; Frangos, Nicholas E.; Zimbidis, Alexandros A.
2009-01-01
The paper revisits the classical problem of premium rating within a heterogeneous portfolio of insurance risks using a continuous stochastic control framework. The portfolio is divided into several classes where each class interacts with the others. The risks are modelled dynamically by the means of a Brownian motion. This dynamic approach is also transferred to the design of the premium process. The premium is not constant but equals the drift of the Brownian motion plus a controlled percent...
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Geographic variation in premiums in health insurance marketplaces.
Barker, Abigail R; McBride, Timothy D; Kemper, Leah M; Mueller, Keith
2014-08-01
This policy brief analyzes the 2014 premiums associated with qualified health plans (QHPs) made available through new health insurance marketplaces (HIMs), an implementation of the Patient Protection and Affordable Care Act (ACA) of 2010. We report differences in premiums by insurance rating areas while controlling for other important factors such as the actuarial value of the plan (metal level), cost-of-living differences, and state-level decisions over type of rating area. While market equilibrium, based on experience and understanding of the characteristics of the new market, should not be expected this soon, preliminary results give policymakers key issues to monitor.
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Health Benefits In 2016: Family Premiums Rose Modestly, And Offer Rates Remained Stable.
Claxton, Gary; Rae, Matthew; Long, Michelle; Damico, Anthony; Whitmore, Heidi; Foster, Gregory
2016-10-01
The annual Kaiser Family Foundation/Health Research and Educational Trust Employer Health Benefits Survey found that in 2016, average annual premiums (employer and worker contributions combined) were $6,435 for single coverage and $18,142 for family coverage. The family premium in 2016 was 3 percent higher than that in 2015. On average, workers contributed 18 percent of the premium for single coverage and 30 percent for family coverage. The share of firms offering health benefits (56 percent) and of workers covered by their employers' plans (62 percent) remained statistically unchanged from 2015. Employers continued to offer financial incentives for completing wellness or health promotion activities. Almost three in ten covered workers were enrolled in a high-deductible plan with a savings option-a significant increase from 2014. The 2016 survey included new questions on cost sharing for specialty drugs and on the prevalence of incentives for employees to seek care at alternative settings. Project HOPE—The People-to-People Health Foundation, Inc.
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Patient-centered and visual quality outcomes of premium cataract surgery: a systematic review.
Wang, Sophia Y; Stem, Maxwell S; Oren, Gale; Shtein, Roni; Lichter, Paul R
2017-06-26
Over 8 million cataract surgeries are performed in the United States and the European Union annually, with many patients choosing to pay out of pocket for premium options including premium intraocular lens implants (IOLs) or laser-assisted cataract surgery (LACS). This report provides a systematic review evaluating patient-centered and visual quality outcomes comparing standard monofocal IOLs to premium cataract surgery options. PubMed and EMBASE were searched for publications published between January 1, 1980, and September 18, 2016, on multifocal, accommodative, and toric IOLs, monovision, and LACS, which reported on 1) dysphotopsias, 2) contrast sensitivity, 3) spectacle independence, 4) vision-related quality of life or patient satisfaction, and 5) IOL exchange. Multifocal lenses achieved higher rates of spectacle independence compared to monofocal lenses but also had higher reported frequency of dysphotopsia and worse contrast sensitivity, especially with low light or glare. Accommodative lenses were not associated with reduced contrast sensitivity or more dysphotopsia but had only modest improvements in spectacle independence compared to monofocal lenses. Studies of monovision did not target a sufficiently myopic outcome in the near-vision eye to achieve the full potential for spectacle independence. Patients reported high levels of overall satisfaction regardless of implanted IOL. No studies correlated patient-reported outcomes with patient expectations. Studies are needed to thoroughly compare patient-reported outcomes with concomitant patient expectations. In light of the substantial patient costs for premium options, patients and their surgeons will benefit from a better understanding of which surgical options best meet patients' expectations and how those expectations can be impacted by premium versus monofocal-including monovision-options.
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Gruber, Jonathan
2014-06-01
Before we can evaluate the impact of the Affordable Care Act on health insurance premiums in the individual market, it is critical to understand the pricing trends of these premiums before the implementation of the law. Using rates of increase in the individual insurance market collected from state regulators, this issue brief documents trends in premium growth in the pre-ACA period. From 2008 to 2010, premiums grew by 10 percent or more per year. This growth was also highly variable across states, and even more variable across insurance plans within states. The study suggests that evaluating trends in premiums requires looking across a broad array of states and plans, and that policymakers must examine how present and future changes in premium rates compare with the more than 10 percent per year premium increases in the years preceding health reform.
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Barker, Abigail; McBride, Timothy D; Kemper, Leah M; Mueller, Keith
2015-05-01
The Patient Protection and Affordable Care Act established Health Insurance Marketplaces (HIMs) in all 50 states and the District of Columbia. This policy brief assesses the changes in HIMs from 2014 to 2015 in terms of choices offered and premiums charged, with emphasis on how these measures vary across rural and urban places. Key Findings. (1) In 74 percent of HIM rating areas, the number of firms operating increased by at least one, while the number of firms decreased in only about 6 percent of rating areas. Further, 64 percent of rating areas with fewer than 50 persons per square mile gained at least one firm. (2) There was no consistent pattern of premium increases with respect to rating area population density (used as a proxy here for the degree of "ruralness" of the rating areas). Nationally, rural areas are not experiencing higher premium increases than their urban counterparts. In fact, the lowest increases in second-lowest cost silver plan premiums occurred in the medium-density population rating areas of 51 to 300 persons per square mile. (3) Average adjusted premiums increased from 2014 to 2015 by 6.7 percent in Federally-Facilitated Marketplaces (FFMs) compared to just 1.4 percent in State-Based Marketplaces (SBMs). Regardless of SBM or FFM status, premium increases across the United States were negatively correlated with the number of firms entering the market. (4) Analysis of the most rural states, in terms of percentage of the population classified as nonmetropolitan, shows that, in general, premiums fell significantly in rural places where they had been rather high, and they increased in rural places where they had been rather low. The five rural states with the lowest premium increases had an average of 0.17 firms entering the market, while the five with the highest premium increases had an average of 0.50 firms exiting the market.
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Trends in the use and advertising of discount versus premium snuff.
Timberlake, David S; Pechmann, Cornelia
2013-02-01
The Conwood Company, a major producer of discount moist snuff, was awarded a $1 billion antitrust settlement in the year 2000 against its leading competitor, the U.S. Smokeless Tobacco Company. The objective of this study was to examine the trends in use and advertising of discount versus premium snuff since the Conwood settlement, a topic seldom addressed in the tobacco control literature. 2 sources of data were analyzed in 2011: (a) male snuff users from the 2002-2009 National Surveys on Drug Use and Health (N = 13,172) and (b) total advertisements of moist snuff identified from over 350 consumer magazines dated 2005-2009 (N = 861). For the survey data, demographic and tobacco-related measures were assessed as predictors of use of discount versus premium snuff in logistic regression models. For the advertising data, associations were examined between the snuff category and nicotine content, magazine youth readership, and year of magazine publication. The prevalence of discount and premium snuff use among males increased and decreased, respectively, from 2002 to 2009. Significant predictors of using discount versus premium snuff were being an adolescent, being an African-American, being a current or former smoker, living in a less populated region of the country, and using snuff frequently. Discount snuff advertising was associated with publication in magazines with a high youth readership. Discount snuff has grown in popularity among male adolescents who have been a target of advertising. The tobacco's cheap price and high nicotine content pose a public health problem because of the potential for long-term tobacco use and dependence.
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2010-07-01
... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Premium pay. 345.52 Section 345.52... (FPI) INMATE WORK PROGRAMS Inmate Pay and Benefits § 345.52 Premium pay. Payment of premium pay to... inmates at a location. (a) Eligibility. Inmates in first grade pay status may be considered for premium...
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34 CFR 682.505 - Insurance premium.
2010-07-01
... 34 Education 3 2010-07-01 2010-07-01 false Insurance premium. 682.505 Section 682.505 Education... § 682.505 Insurance premium. (a) General. The Secretary charges the lender an insurance premium for each Federal GSL Program loan that is guaranteed, except that no insurance premium is charged on a Federal...
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Premium growth and its effect on employer-sponsored insurance.
Vistnes, Jessica; Selden, Thomas
2011-03-01
We use variation in premium inflation and general inflation across geographic areas to identify the effects of downward nominal wage rigidity on employers' health insurance decisions. Using employer level data from the 2000 to 2005 Medical Expenditure Panel Survey-Insurance Component, we examine the effect of premium growth on the likelihood that an employer offers insurance, eligibility rates among employees, continuous measures of employee premium contributions for both single and family coverage, and deductibles. We find that small, low-wage employers are less likely to offer health insurance in response to increased premium inflation, and if they do offer coverage they increase employee contributions and deductible levels. In contrast, larger, low-wage employers maintain their offers of coverage, but reduce eligibility for such coverage. They also increase employee contributions for single and family coverage, but not deductibles. Among high-wage employers, all but the largest increase deductibles in response to cost pressures.
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MODEL PERAMALAN KONSUMSI BAHAN BAKAR JENIS PREMIUM DI INDONESIA DENGAN REGRESI LINIER BERGANDA
Directory of Open Access Journals (Sweden)
Farizal
2014-12-01
Full Text Available Energy consumption forecasting, especially premium, is an integral part of energy management. Premium is a type of energy that receives government subsidy. Unfortunately, premium forecastings being performed have considerable high error resulting difficulties on reaching planned subsidy target and exploding the amount. In this study forecasting was conducted using multilinear regression (MLR method with ten candidate predictor variables. The result shows that only four variables which are inflation, selling price disparity between pertamanx and premium, economic growth rate, and the number of car, dictate premium consumption. Analsys on the MLR model indicates that the model has a considerable low error with the mean absolute percentage error (MAPE of 5.18%. The model has been used to predict 2013 primium consumption with 1.05% of error. The model predicted that 2013 premium consumption was 29.56 million kiloliter, while the reality was 29.26 million kiloliter.
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Premium indexing in lifelong health insurance
Vercruysse, W.; Dhaene, J.; Denuit, M.; Pitacco, E.; Antonio, K.
2013-01-01
For lifelong health insurance covers, medical inflation not incorporated in the level premiums determined at policy issue requires an appropriate increase of these premiums and/or the corresponding reserves during the term of the contract. In this paper, we investigate appropriate premium indexing
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Optimal dynamic premium control in non-life insurance. Maximizing dividend pay-outs
DEFF Research Database (Denmark)
Højgaard, Bjarne
2002-01-01
In this paper we consider the problem of finding optimal dynamic premium policies in non-life insurance. The reserve of a company is modeled using the classical Cramér-Lundberg model with premium rates calculated via the expected value principle. The company controls dynamically the relative safety...... loading with the possibility of gaining or loosing customers. It distributes dividends according to a 'barrier strategy' and the objective of the company is to find an optimal premium policy and dividend barrier maximizing the expected total, discounted pay-out of dividends. In the case of exponential...
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Premiums And Reserves, Adjusted By Distortions
Pichler, Alois
2013-01-01
The net-premium principle is considered to be the most genuine and fair premium principle in actuarial applications. However, an insurance company, applying the net-premium principle, goes bankrupt with probability one in the long run, even if the company covers its entire costs by collecting the respective fees from its customers. It is therefore an intrinsic necessity for the insurance industry to apply premium principles, which guarantee at least further existence of the company itself; ot...
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Vonnák, Balázs
2010-01-01
This paper investigates the role of monetary policy in a small open economy, where exchange rate shocks are important. VAR models are estimated for the Czech Republic, Hungary and Poland. Contemporaneous and sign restrictions are imposed in order to identify the effect of monetary policy and risk premium shocks. Estimates from the same model for Canada, Sweden and the UK are used as benchmark for developed economies with low inflation. The results suggest that the typical size a of risk premi...
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Tort law and medical malpractice insurance premiums.
Kilgore, Meredith L; Morrisey, Michael A; Nelson, Leonard J
2006-01-01
This paper estimated the effects of tort law and insurer investment returns on physician malpractice insurance premiums. Data were collected on tort law from 1991 through 2004, and multivariate regression models, including fixed effects for state and year, were used to estimate the effect of changes in tort law on medical malpractice premiums. The premium consequences of national policy changes were simulated. The analysis found that the introduction of a new damage cap lowered malpractice premiums for internal medicine, general surgery, and obstetrics/gynecology by 17.3%, 20.7%, and 25.5%, respectively. Lowering damage caps by dollar 100,000 reduced premiums by 4%. Statutes of repose also resulted in lower premiums. No other tort law changes had the effect of lowering premiums. Simulation results indicate that a national cap of dollar 250,000 on awards for noneconomic damages in all states would imply premium savings of dollar 16.9 billion. Extending a dollar 250,000 cap to all states that do not currently have them would save dollar 1.4 billion annually, or about 8% of the total. A negative effect on malpractice premiums was found for the Dow Jones industrial average, but not for bond prices; effects of the Nasdaq index were not significant for internal medicine, but were marginally significant for surgery and obstetrics premiums.
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Public and private health insurance in Germany: the ignored risk selection problem.
Grunow, Martina; Nuscheler, Robert
2014-06-01
We investigate risk selection between public and private health insurance in Germany. With risk-rated premiums in the private system and community-rated premiums in the public system, advantageous selection in favor of private insurers is expected. Using 2000 to 2007 data from the German Socio-Economic Panel Study (SOEP), we find such selection. While private insurers are unable to select the healthy upon enrollment, they profit from an increase in the probability to switch from private to public health insurance of those individuals who have experienced a negative health shock. To avoid distorted competition between the two branches of health care financing, risk-adjusted transfers from private to public insurers should be instituted. Copyright © 2013 John Wiley & Sons, Ltd.
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5 CFR 892.303 - Can I pay my premiums directly by check under the premium conversion plan?
2010-01-01
... under the premium conversion plan? 892.303 Section 892.303 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Contributions and Withholdings § 892.303 Can I pay my premiums directly...
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24 CFR 220.804 - Insurance premiums.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 220.804 Section... and Obligations-Projects Insured Project Improvement Loans § 220.804 Insurance premiums. (a) First premium. The lender, upon the initial endorsement of the loan for insurance, shall pay to the Commissioner...
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Syrstad, Olav
2014-01-01
This paper investigates the effectiveness of the Federal Reserve's Term Auction Facility (TAF) in alleviating the liquidity shortage in USD and reducing the spread between the 3-month Libor rate and the expected policy rate. I construct a proxy for the 3-month liquidity risk premium based on data from the FX forward market which enables me to (i) decompose the Libor spread into a liquidity premium and a credit premium, and (ii) test the effectiveness of the TAF in reducing the liquidity premi...
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24 CFR 203.443 - Insurance premium.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premium. 203.443 Section... premium. All of the provisions of §§ 203.260 through 203.269 1 concerning mortgage insurance premiums... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE...
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PREMIUMS CALCULATION FOR LIFE INSURANCE
Directory of Open Access Journals (Sweden)
ANA PREDA
2012-10-01
Full Text Available The paper presents the techniques and the formulas used on international practice for establishing the premiums for a life policy. The formulas are generally based on a series of indicators named mortality indicators which mainly point out the insured survival probability, the death probability and life expectancy at certain age. I determined, using a case study, the unique net premium, the annual net premium for a survival insurance, whole life insurance and mixed life insurance.
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van Heerwaarden, A.E.; Kaas, R.
1992-01-01
A premium principle is derived, in which the loading for a risk is the reinsurance loading for an excess-of-loss cover. It is shown that the principle is well-behaved in the sense that it results in larger premiums for risks that are larger in stop-loss order or in stochastic dominance.
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Employer contribution and premium growth in health insurance.
Liu, Yiyan; Jin, Ginger Zhe
2015-01-01
We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsidy policy change in the Federal Employees Health Benefits Program (FEHBP), we find that the employer premium contribution scheme has a differential impact on health plan pricing based on two market incentives: 1) consumers are less price sensitive when they only need to pay part of the premium increase, and 2) each health plan has an incentive to increase the employer's premium contribution to that plan. Both incentives are found to contribute to premium growth. Counterfactual simulation shows that average premium would have been 10% less than observed and the federal government would have saved 15% per year on its premium contribution had the subsidy policy change not occurred in the FEHBP. We discuss the potential of similar incentives in other government-subsidized insurance systems such as the Medicare Part D and the Health Insurance Marketplace under the Affordable Care Act. Copyright © 2014 Elsevier B.V. All rights reserved.
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78 FR 666 - Treasury Inflation-Protected Securities Issued at a Premium; Bond Premium Carryforward
2013-01-04
...-BL29 Treasury Inflation-Protected Securities Issued at a Premium; Bond Premium Carryforward AGENCY... contains final regulations that provide guidance on the tax treatment of Treasury Inflation-Protected... regulations in this document provide guidance to holders of Treasury Inflation-Protected Securities and other...
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Determinants of premiums in aerospace mergers and acquisitions: A preliminary analysis
Bryant, John K.
There is a large body of literature on different aspects of premiums as they relate to mergers and acquisitions. However, there is very little literature that specifically discusses the determinants of premiums in aerospace. Few industries have experienced the prolonged consolidation that the aerospace industry has seen. Today, the industry is dominated by a few large firms, but there is still merger activity continuing especially with second-tier firms attempting to secure their future through growth. This paper examines several determinants as applied to 18 aerospace mergers of publicly held companies and divisions from 1991 through April of 2002.
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Signaling and the Education Premium
Gregory Kurtzon
2004-01-01
A large portion of the rise in the education premium can be explained by a signaling theory of education which predicts that in the future, increases in the education level of the workforce will actually cause the education premium to rise, simply because different workers are being labeled as “highly educated†. This prediction is supported by past behavior of the high school education premium. It runs counter to the view that increases in the relative supply of high education workers wil...
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Comparison of Seafood and Agricultural Ecological Premiums1
Ankamah-Yeboah, Isaac; Nielsen, Max; Nielsen, Rasmus
2017-01-01
The report compares ecolabeled seafood premiums observed in the market with consumers’ stated willingness to pay premiums. Also ecolabeled premiums in the agricultural sector were examined. The next issue addressed was the sensitivity of changes in the price and premiums of ecolabeled seafood. Empirical findings showed that all things being equal, consumers stated willingness to pay reflects in their actual market behavior though they may pay less than stated. Premiums observed in the aquacul...
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'Benefits cycle' replacing premium cycle as consumerism takes hold.
2002-05-01
The traditional premium cycle of ups and downs in rates is giving way to a new phenomenon--driven by the advent of consumerism in health care--termed the "benefits cycle" by one consultant. Rather than shifts in rates, he argues, the future will see shifts in benefits packages.
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Employer Contribution and Premium Growth in Health Insurance
Yiyan Liu; Ginger Zhe Jin
2013-01-01
We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsidy policy change in the Federal Employees Health Benefits Program (FEHBP), we find that the employer premium contribution scheme has a differential impact on health plan pricing based on two market incentives: 1) consumers are less price sensitive when they only need to pay part of the premium incr...
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Quantitative concept tests of organic premium meat products
Chrysochou , Polymeros; Krystallis Krontalis, Athanasios
2015-01-01
This report is part of WP6 of the SUMMER project. The aim is to investigate how consumers perceive organic premium products and if they are willing to pay a price premium for these products. We conducted an experiment with 426 Danish consumers, in which we manipulate production method (organic vs. conventional), premium production (premium vs. non-premium) and extrinsic quality (high vs. low) across three meat products (pork, beef and chicken). Our findings show that consumers perceive organi...
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Foreign exchange risk premium determinants: case of Armenia
Czech Academy of Sciences Publication Activity Database
Poghosyan, Tigran; Kočenda, Evžen
-, č. 297 (2006), s. 1-37 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : “forward premium” puzzle * exchange rate risk * time-varying risk premium Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp297.pdf
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The urban density premium across establishments
R. Jason Faberman; Matthew Freedman
2013-01-01
We use longitudinal microdata to estimate the urban density premium for U.S. establishments, controlling for observed establishment characteristics and dynamic establishment behavior. Consistent with previous studies, we estimate a density premium between 6 and 10 percent, even after controlling for establishment composition, local skill mix, and the endogeneity of location choice. More importantly, we find that the estimated density premium is realized almost entirely at birth and is constan...
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Touche Ross and Co., Washington, DC.
Insurance premiums being charged to borrowers under the Guaranteed Student Loan (GSL) program were studied to determine if the rate exceeded the rate necessary to protect the reserves of the insurer. Attention was directed to whether historical changes in the GSL program have affected insurance premiums. Guaranty agency's sources and uses of funds…
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DEFF Research Database (Denmark)
Amaral-Garcia, Sofia; Grembi, Veronica
2014-01-01
institutional setting. In particular, we implement a difference-in-differences strategy using Italian data at the provider level from 2001 to 2008 to evaluate the impact of monitoring claims on medical liability expenditures, measured as insurance premiums and legal expenditures, which was adopted by only some...... Regions. Our results show that this information-enhancing policy reduces paid premiums by around 15%. This reduced-form effect might arise by higher bargaining power on the demand side or increased competition on the supply side of the insurance market. Validity tests show that our findings are not driven...
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24 CFR 241.1030 - Mortgage insurance premiums.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 241... Loans-Eligibility Requirements § 241.1030 Mortgage insurance premiums. The lender, upon endorsement of the note, shall pay the Commissioner a first mortgage insurance premium equal to 0.5 percent of the...
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49 CFR 260.15 - Credit risk premium.
2010-10-01
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...
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24 CFR 221.254 - Mortgage insurance premiums.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 221... Cost Homes § 221.254 Mortgage insurance premiums. (a) All of the provisions of §§ 203.260 through 203.295 of this chapter relating to mortgage insurance premiums shall apply to mortgages insured under...
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The Loss Aversion / Narrow Framing Approach to the Equity Premium Puzzle
Nicholas Barberis; Ming Huang
2006-01-01
We review a recent approach to understanding the equity premium puzzle. The key elements of this approach are loss aversion and narrow framing, two well-known features of decision-making under risk in experimental settings. In equilibrium, models that incorporate these ideas can generate a large equity premium and a low and stable risk-free rate, even when consumption growth is smooth and only weakly correlated with the stock market. Moreover, they can do so for parameter values that correspo...
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Gioe, Terence J; Sharma, Amit; Tatman, Penny; Mehle, Susan
2011-01-01
Numerous joint implant options of varying cost are available to the surgeon, but it is unclear whether more costly implants add value in terms of function or longevity. We evaluated registry survival of higher-cost "premium" knee and hip components compared to lower-priced standard components. Premium TKA components were defined as mobile-bearing designs, high-flexion designs, oxidized-zirconium designs, those including moderately crosslinked polyethylene inserts, or some combination. Premium THAs included ceramic-on-ceramic, metal-on-metal, and ceramic-on-highly crosslinked polyethylene designs. We compared 3462 standard TKAs to 2806 premium TKAs and 868 standard THAs to 1311 premium THAs using standard statistical methods. The cost of the premium implants was on average approximately $1000 higher than the standard implants. There was no difference in the cumulative revision rate at 7-8 years between premium and standard TKAs or THAs. In this time frame, premium implants did not demonstrate better survival than standard implants. Revision indications for TKA did not differ, and infection and instability remained contributors. Longer followup is necessary to demonstrate whether premium implants add value in younger patient groups. Level III, therapeutic study. See Guidelines for Authors for a complete description of levels of evidence.
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Premium Forecasting of AN Insurance Company:
Fouladvand, M. Ebrahim; Darooneh, Amir H.
We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, the total number of insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence of a crossover premium pc below which the company is operating at a loss. Above pc, we also give a detailed statistical analysis of the company's financial status and obtain the predicted profit along with the corresponding risk as well as ruin probability in terms of premium. Furthermore we obtain the optimal premium popt which maximizes the company's profit.
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Gabel, Jon R; Arnold, Daniel R; Fulton, Brent D; Stromberg, Sam T; Green, Matthew; Whitmore, Heidi; Scheffler, Richard M
2017-01-01
With the notable exception of California, states have not made enrollment data for their Affordable Care Act (ACA) Marketplace plans publicly available. Researchers thus have tracked premium trends by calculating changes in the average price for plans offered (a straight average across plans) rather than for plans purchased (a weighted average). Using publicly available enrollment data for Covered California, we found that the average purchased price for all plans was 11.6 percent less than the average offered price in 2014, 13.2 percent less in 2015, and 15.2 percent less in 2016. Premium growth measured by plans purchased was roughly 2 percentage points less than when measured by plans offered in 2014-15 and 2015-16. We observed shifts in consumer choices toward less costly plans, both between and within tiers, and we estimate that a $100 increase in a plan's net annual premium reduces its probability of selection. These findings suggest that the Marketplaces are helping consumers moderate premium cost growth. Project HOPE—The People-to-People Health Foundation, Inc.
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Guitart, I.A. (Ivan A.); Gonzalez, J. (Jorge); S. Stremersch (Stefan)
2018-01-01
textabstractNon-premium brands occasionally emulate their premium counterparts by using ads that emphasize premium characteristics such as superior performance and exclusivity. We define this practice as “advertising up” and develop hypotheses about its short- and long-term impact on advertising
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Employee responses to health insurance premium increases.
Goldman, Dana P; Leibowitz, Arleen A; Robalino, David A
2004-01-01
To determine the sensitivity of employees' health insurance decisions--including the decision to not choose health maintenance organization or fee-for-service coverage--during periods of rapidly escalating healthcare costs. A retrospective cohort study of employee plan choices at a single large firm with a "cafeteria-style" benefits plan wherein employees paid all the additional cost of purchasing more generous insurance. We modeled the probability that an employee would drop coverage or switch plans in response to employee premium increases using data from a single large US company with employees across 47 states during the 3-year period of 1989 through 1991, a time of large premium increases within and across plans. Premium increases induced substantial plan switching. Single employees were more likely to respond to premium increases by dropping coverage, whereas families tended to switch to another plan. Premium increases of 10% induced 7% of single employees to drop or severely cut back on coverage; 13% to switch to another plan; and 80% to remain in their existing plan. Similar figures for those with family coverage were 11%, 12%, and 77%, respectively. Simulation results that control for known covariates show similar increases. When faced with a dramatic increase in premiums--on the order of 20%--nearly one fifth of the single employees dropped coverage compared with 10% of those with family coverage. Employee coverage decisions are sensitive to rapidly increasing premiums, and single employees may be likely to drop coverage. This finding suggests that sustained premium increases could induce substantial increases in the number of uninsured individuals.
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Designing Psychological Treatments for Scalability: The PREMIUM Approach.
Directory of Open Access Journals (Sweden)
Sukumar Vellakkal
Full Text Available Lack of access to empirically-supported psychological treatments (EPT that are contextually appropriate and feasible to deliver by non-specialist health workers (referred to as 'counsellors' are major barrier for the treatment of mental health problems in resource poor countries. To address this barrier, the 'Program for Effective Mental Health Interventions in Under-resourced Health Systems' (PREMIUM designed a method for the development of EPT for severe depression and harmful drinking. This was implemented over three years in India. This study assessed the relative usefulness and costs of the five 'steps' (Systematic reviews, In-depth interviews, Key informant surveys, Workshops with international experts, and Workshops with local experts in the first phase of identifying the strategies and theoretical model of the treatment and two 'steps' (Case series with specialists, and Case series and pilot trial with counsellors in the second phase of enhancing the acceptability and feasibility of its delivery by counsellors in PREMIUM with the aim of arriving at a parsimonious set of steps for future investigators to use for developing scalable EPT.The study used two sources of data: the usefulness ratings by the investigators and the resource utilization. The usefulness of each of the seven steps was assessed through the ratings by the investigators involved in the development of each of the two EPT, viz. Healthy Activity Program for severe depression and Counselling for Alcohol Problems for harmful drinking. Quantitative responses were elicited to rate the utility (usefulness/influence, followed by open-ended questions for explaining the rankings. The resources used by PREMIUM were computed in terms of time (months and monetary costs.The theoretical core of the new treatments were consistent with those of EPT derived from global evidence, viz. Behavioural Activation and Motivational Enhancement for severe depression and harmful drinking respectively
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24 CFR 266.602 - Mortgage insurance premium: Insured advances.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Insured... Contract Rights and Obligations Mortgage Insurance Premiums § 266.602 Mortgage insurance premium: Insured.... On each anniversary of the initial closing, the HFA shall pay an interim mortgage insurance premium...
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Health Insurance Marketplaces: Premium Trends in Rural Areas.
Barker, Abigail R; Kemper, Leah M; McBride, Timothy D; Meuller, Keith J
2016-05-01
Since 2014, when the Health Insurance Marketplaces (HIMs) authorized by the Patient Protection and Affordable Care Act (ACA) were implemented, considerable premium changes have been observed in the marketplaces across the 50 states and the District of Columbia. This policy brief assesses the changes in average HIM plan premiums from 2014 to 2016, before accounting for subsidies, with an emphasis on the widening variation across rural and urban places. Since this brief focuses on premiums without accounting for subsidies, this is not intended to be an analysis of the "affordability" of ACA premiums, as that would require assessment of premiums, cost-sharing adjustments, and other factors.
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24 CFR 266.604 - Mortgage insurance premium: Other requirements.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Other... Contract Rights and Obligations Mortgage Insurance Premiums § 266.604 Mortgage insurance premium: Other..., based upon the respective share of risk, that is to be used in calculating mortgage insurance premiums...
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Pricing of premiums for equity-linked life insurance based on joint mortality models
Riaman; Parmikanti, K.; Irianingsih, I.; Supian, S.
2018-03-01
Life insurance equity - linked is a financial product that not only offers protection, but also investment. The calculation of equity-linked life insurance premiums generally uses mortality tables. Because of advances in medical technology and reduced birth rates, it appears that the use of mortality tables is less relevant in the calculation of premiums. To overcome this problem, we use a combination mortality model which in this study is determined based on Indonesian Mortality table 2011 to determine the chances of death and survival. In this research, we use the Combined Mortality Model of the Weibull, Inverse-Weibull, and Gompertz Mortality Model. After determining the Combined Mortality Model, simulators calculate the value of the claim to be given and the premium price numerically. By calculating equity-linked life insurance premiums well, it is expected that no party will be disadvantaged due to the inaccuracy of the calculation result
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77 FR 26698 - Allocation of Mortgage Insurance Premiums
2012-05-07
... Allocation of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final... explain how to allocate prepaid qualified mortgage insurance premiums to determine the amount of the... Act of 2010. The regulations affect taxpayers who pay prepaid qualified mortgage insurance premiums...
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Mercan, Murat A.
2011-01-01
This paper contributes to the literature in three ways. Our first contribution is calculating the marriage premium for Turkey. Our results suggest that married men earn 27 percent more than single men and married women earn 4 percent less than single women. Our second contribution is calculating the marriage premium for Turkey’s regions. For men, the wage difference is the smallest, 0.43, in Istanbul. The difference is highest in Akdeniz region. For women, the wage difference is smallest, -0....
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Cost Effectiveness of Premium Versus Regular Gasoline in MCPS Buses.
Baacke, Clifford M.; Frankel, Steven M.
The primary question posed in this study is whether premium or regular gasoline is more cost effective for the Montgomery County Public School (MCPS) bus fleet, as a whole, when miles-per-gallon, cost-per-gallon, and repair costs associated with mileage are considered. On average, both miles-per-gallon, and repair costs-per-mile favor premium…
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Agirdas, Cagdas; Krebs, Robert J; Yano, Masato
2018-01-08
One goal of the Affordable Care Act is to increase insurance coverage by improving competition and lowering premiums. To facilitate this goal, the federal government enacted online marketplaces in the 395 rating areas spanning 34 states that chose not to establish their own state-run marketplaces. Few multivariate regression studies analyzing the effects of competition on premiums suffer from endogeneity, due to simultaneity and omitted variable biases. However, United Healthcare's decision to enter these marketplaces in 2015 provides the researcher with an opportunity to address this endogeneity problem. Exploiting the variation caused by United Healthcare's entry decision as an instrument for competition, we study the impact of competition on premiums during the first 2 years of these marketplaces. Combining panel data from five different sources and controlling for 12 variables, we find that one more insurer in a rating area leads to a 6.97% reduction in the second-lowest-priced silver plan premium, which is larger than the estimated effects in existing literature. Furthermore, we run a threshold analysis and find that competition's effects on premiums become statistically insignificant if there are four or more insurers in a rating area. These findings are robust to alternative measures of premiums, inclusion of a non-linear term in the regression models and a county-level analysis.
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5 CFR 610.407 - Premium pay for holiday work for employees on compressed work schedules.
2010-01-01
... schedule who performs work on a holiday is entitled to basic pay, plus premium pay at a rate equal to basic pay, for the work that is not in excess of the employee's compressed work schedule for that day. For... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Premium pay for holiday work for...
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49 CFR 260.17 - Credit risk premium analysis.
2010-10-01
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium analysis. 260.17 Section 260... Financial Assistance § 260.17 Credit risk premium analysis. (a) When Federal appropriations are not available to cover the total subsidy cost, the Administrator will determine the Credit Risk Premium...
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Dynamic jump intensities and risk premiums
DEFF Research Database (Denmark)
Christoffersen, Peter; Ornthanalai, Chayawat; Jacobs, Kris
2012-01-01
We build a new class of discrete-time models that are relatively easy to estimate using returns and/or options. The distribution of returns is driven by two factors: dynamic volatility and dynamic jump intensity. Each factor has its own risk premium. The models significantly outperform standard...... models without jumps when estimated on S&P500 returns. We find very strong support for time-varying jump intensities. Compared to the risk premium on dynamic volatility, the risk premium on the dynamic jump intensity has a much larger impact on option prices. We confirm these findings using joint...
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Storage and the electricity forward premium
International Nuclear Information System (INIS)
Douglas, Stratford; Popova, Julia
2008-01-01
We develop and test a model describing the influence of natural gas storage inventories on the electricity forward premium. The model is constructed by linking the effect of gas storage constraints on the higher moments of the distribution of electricity prices to an established model of the effect of those moments on the forward premium. The model predicts a sharply negative effect of gas storage inventories on the electricity forward premium when demand for electricity is high and space-heating demand for gas is low. Empirical results, based on PJM data, strongly support the model. (author)
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Walzer, Stefan
2007-01-01
To contribute to current discussions about budget impact modeling, two different approaches for the impact of a new pharmaceutical product were analyzed: firstly considering the impact on annual healthcare expenditures only, and secondly additional inclusion of lost insurance premiums due to possible early retirement in patients with chronic diseases. The dynamic model calculates the budget impact from two different perspectives: (a) the impact on healthcare expenditures and (b) on expenditures as well as on health insurance revenues due to premiums. The latter approach could especially be useful for patients with chronic diseases who have higher probabilities of early retirement. Early retirement rates and indirect costs were derived from published data. Healthcare premiums were calculated based on an average premium and a mean income. Epidemiological input data were obtained from the literature. Time horizon was 10 years. Results in terms of reimbursement decisions of the budget impact analysis varied depending on the assumptions made for the insurance premiums, costs, and early retirement rate. Sensitivity analyses revealed that in extreme cases the decision for accepting a new pharmaceutical product would probably be negative using approach (a), but positive using approach (b). Depending on the disease and population of interest in a budget impact analysis, not only the healthcare expenditures for a health insurance have to be considered but also the revenue side for an insurance due to retirement should be included.
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The Equity Premium Puzzle: Analysis in Brazil after the Real Plan
Directory of Open Access Journals (Sweden)
Fábio Augusto Reis Gomes
2013-04-01
Full Text Available Our paper investigates whether there is evidence of an Equity Premium Puzzle (EPP in Brazil, applying two different methodologies. The EPP was identified by Mehra and Prescott (1985 since the Consumption Capital Asset Pricing Model (CCAPM, when calibrated with reasonable preference parameters, could not explain high historical average risk premiums in the United States. In our first approach, we consider Mehra’s (2003 model and calibrate the coefficient of risk aversion, using 1995:2-2012:1 quarterly data. The Ibovespa index was used as a measure of the market return, whereas the risk-free rate was proxied by the Selic interbank rate and by the savings account rate. In our second approach, we propose a new method to test the puzzle. We jointly estimate, via generalized method of moments, the parameters of interest using a moment condition that has not been previously explored, as far as we are aware of. The two approaches produced a high risk aversion coefficient, however the second approach indicated that we cannot reject the hypothesis of the risk aversion coefficient being statistically equal to zero. A possible explanation for this result might be that in Brazil the equity premium is not statistically different from zero. Therefore there is no evidence of EPP in Brazil for the studied period.
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Physical Premium Principle: A New Way for Insurance Pricing
Darooneh, Amir H.
2005-03-01
In our previous work we suggested a way for computing the non-life insurance premium. The probable surplus of the insurer company assumed to be distributed according to the canonical ensemble theory. The Esscher premium principle appeared as its special case. The difference between our method and traditional principles for premium calculation was shown by simulation. Here we construct a theoretical foundation for the main assumption in our method, in this respect we present a new (physical) definition for the economic equilibrium. This approach let us to apply the maximum entropy principle in the economic systems. We also extend our method to deal with the problem of premium calculation for correlated risk categories. Like the Buhlman economic premium principle our method considers the effect of the market on the premium but in a different way.
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24 CFR 266.600 - Mortgage insurance premium: Insurance upon completion.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.600 Mortgage insurance premium: Insurance upon completion. (a) Initial premium. For projects insured upon completion, on...
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The contagion effect of public debt on monetary policy: the Brazilian experience
Directory of Open Access Journals (Sweden)
Fernando de Holanda Barbosa
2006-06-01
Full Text Available This paper attempts to explain why the Brazilian inter-bank interest rate is so high compared with rates practiced by other emerging economies. The interplay between the markets for bank reserves and government securities feeds into the inter-bank rate the risk premium of the Brazilian public debt.
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Physical Premium Principle: A New Way for Insurance Pricing
Directory of Open Access Journals (Sweden)
Amir H. Darooneh
2005-02-01
Full Text Available Abstract: In our previous work we suggested a way for computing the non-life insurance premium. The probable surplus of the insurer company assumed to be distributed according to the canonical ensemble theory. The Esscher premium principle appeared as its special case. The difference between our method and traditional principles for premium calculation was shown by simulation. Here we construct a theoretical foundation for the main assumption in our method, in this respect we present a new (physical definition for the economic equilibrium. This approach let us to apply the maximum entropy principle in the economic systems. We also extend our method to deal with the problem of premium calculation for correlated risk categories. Like the Buhlman economic premium principle our method considers the effect of the market on the premium but in a different way.
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78 FR 70856 - Information Reporting of Mortgage Insurance Premiums
2013-11-27
... Information Reporting of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... regulations that require information reporting by persons who receive mortgage insurance premiums, including... reporting requirements that result from the extension of the treatment of mortgage insurance premiums made...
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Guitart, I.A. (Ivan A.); Gonzalez, J. (Jorge); Stremersch, Stefan
2018-01-01
textabstractNon-premium brands occasionally emulate their premium counterparts by using ads that emphasize premium characteristics such as superior performance and exclusivity. We define this practice as “advertising up” and develop hypotheses about its short- and long-term impact on advertising elasticity and brand equity respectively. We test the hypotheses in two large-scale empirical studies using a comprehensive dataset from the automotive industry that includes, among others, the conten...
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Risk premiums in the German day-ahead Electricity Market
International Nuclear Information System (INIS)
Viehmann, Johannes
2011-01-01
This paper conducts an empirical analysis of risk premiums in the German day-ahead Electricity Wholesale Market. We compare hourly price data of the European Energy Exchange (EEX) auction and of the continuous over-the-counter (OTC) market which takes place prior to the EEX auction. Data provided by the Energy Exchange Austria (EXAA) has been used as a snapshot of the OTC market two hours prior to the EEX auction. Ex post analysis found market participants are willing to pay both significant positive and negative premiums for hourly contracts. The largest positive premiums were paid for high demand evening peak hours on weekdays during winter months. By contrast, night hours on weekends featuring lowest demand levels display negative premiums. Additionally, ex ante analysis found a strong positive correlation between the expected tightness of the system and positive premiums. For this purpose, a tightness factor has been introduced that includes expectations of fundamental factors such as power plant availability, wind power production and demand. Hence, findings by can be supported that power traders in liberalised markets behave like risk-averse rational economic agents. - Research highlights: →Analysis of hourly risk premiums in the German day-ahead Electricity Wholesale Market. →Market participants are willing to pay both significant positive and negative premiums for hourly contracts. →A strong correlation exists between the expected tightness of the power system and premiums.
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The dynamics of risk premiums in Nord Pool's futures market
International Nuclear Information System (INIS)
Mork, E.
2006-01-01
Premiums in futures prices are usually considered through the use of 2 models: a no-arbitrage model; and the equilibrium approach or theory of normal backwardation. The no-arbitrage approach equates futures prices with spot prices, storage costs and convenience yields, and is difficult to apply to electricity markets. This paper investigated future electricity prices in Nord Pool's futures market using an equilibrium approach, which split futures prices into an expected spot price component and a risk premium component. Three main hypotheses were used: (1) that risk premiums were present in the Nord Pool futures market during the period 1997-2004; that risk premiums in the Nord Pool futures market were smaller or absent during the period of 2000 to 2002; and, that there was a significant change in risk premiums in Nord Pool's futures market after the winter of 2002-2003 due to a change in consumer hedging behaviour. Futures prices were compared to realized spot prices in their delivery periods in order to test the hypotheses. In order to estimate the futures premiums, a 1-sample test was performed on the entire period for 1, 30, 60, and 90 days before delivery of the block or month contract. The test employed the null hypothesis that the futures premiums were 0. Premiums were positive and varied between 3.7 per cent and 9.3 per cent. The purpose of the study was to determine whether risk premiums were present. Results showed that risk premiums varied over time. Two additional hypotheses were then investigated to examine whether the presence of outside speculators reduced risk premiums, and to see if a period of high prices and volatility caused more buyers to hedge in the futures market. Results showed that in the face of volatility and higher prices, consumers do not purchase fixed-price contracts which would ultimately increase futures premiums in the market. It was concluded that premiums are an important element in the pricing of Nord Pool futures and forwards
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31 CFR 337.8 - Payment of mortgage insurance premiums.
2010-07-01
... insurance premiums. When certificated debentures are tendered for purchase prior to maturity in order that the proceeds thereof be applied to pay for mortgage insurance premiums, any difference between the amount of the debentures purchased and the amount of the mortgage insurance premium will generally be...
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Premium Pricing of Liability Insurance Using Random Sum Model
Directory of Open Access Journals (Sweden)
Mujiati Dwi Kartikasari
2017-03-01
Full Text Available Premium pricing is one of important activities in insurance. Nonlife insurance premium is calculated from expected value of historical data claims. The historical data claims are collected so that it forms a sum of independent random number which is called random sum. In premium pricing using random sum, claim frequency distribution and claim severity distribution are combined. The combination of these distributions is called compound distribution. By using liability claim insurance data, we analyze premium pricing using random sum model based on compound distribution
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The Skew Risk Premium in the Equity Index Market
Roman Kozhan; Anthony Neuberger; Paul Schneider
2013-01-01
We develop a new method for measuring moment risk premiums. We find that the skew premium accounts for over 40% of the slope in the implied volatility curve in the S&P 500 market. Skew risk is tightly related to variance risk, in the sense that strategies designed to capture the one and hedge out exposure to the other earn an insignificant risk premium. This provides a new testable restriction for asset pricing models trying to capture, in particular, disaster risk premiums. We base our resul...
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A comment on 'Storage and the electricity forward premium'
International Nuclear Information System (INIS)
Bloys van Treslong, Adriaan; Huisman, Ronald
2010-01-01
This paper examines the robustness of the results found by Douglas and Popova (2008). They examine the electricity forward premium in relation to gas storage inventories and find that, although electricity is not directly storable, electricity forward premiums are lower when gas storage inventories are higher, especially on days with high temperatures. Douglas and Popova (2008) derive their results from a forward premium model that is an extension of the Bessembinder and Lemmon (2002) model. We examine whether the gas storage inventory results hold under a different specification of the forward risk premium. Our results support the results found by Douglas and Popova (2008) and show that their results are not influenced by the specification of the forward premium model. (author)
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A theoretical and practical perspective on the equity risk premium
Salomons, Roelof
In historical perspective, equity returns have been higher than interest rates but have also varied a good deal more. However, the average excess return has been larger than what could be expected based on classical equilibrium theory: the equity risk premium (ERP) puzzle. This paper has two
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A note on weighted premium calculation principles
Kaluszka, M.; Laeven, R.J.A.; Okolewski, A.
2012-01-01
A prominent problem in actuarial science is to determine premium calculation principles that satisfy certain criteria. Goovaerts et al. [Goovaerts, M. J., De Vylder, F., Haezendonck, J., 1984. Insurance Premiums: Theory and Applications. North-Holland, Amsterdam, p. 84] establish an optimality-type
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Explaining the so-called 'price premium' in oil markets
International Nuclear Information System (INIS)
Merino, A.; Ortiz, A.
2005-01-01
This paper explores the information content of several variables on the so-called ''oil price premium over fundamentals''. We define this premium as the difference between the market oil price and the estimated price consistent with the OECD's relative industry stock level. By using Granger causality tests and extended regressions we test the systematic ability of a broad set of variables to explain the premium. We find that speculation in the oil market - measured by non-commercial long positions - can improve the traditional model, reducing the premium significantly during some parts of the sample. (author)
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International Nuclear Information System (INIS)
Gawel, Erik; Purkus, Alexandra
2013-01-01
With the share of renewable energies within the electricity sector rising, improving their market and system integration is of increasing importance. By offering plant operators a premium on top of the electricity market price, premium schemes represent an option to increase the alignment of renewable electricity production with market signals, and have been implemented by several EU member states. This paper examines the case study of the German market premium scheme adopted in 2012. Building on an evaluation of early experiences, we discuss whether the market premium contributes to the aims of market and/or system integration (effectiveness), and what potential efficiency gains and additional costs of “administering integration” are associated with it (efficiency). While exposing renewables to price risks is not the scheme’s purpose, it has successfully increased participation in direct marketing. However, risks of overcompensating producers for marketing and balancing costs are high, and the benefits of gradually leading plant operators towards the market are questionable. Incentives for demand-oriented production are established, but they seem insufficient particularly in the case of intermittent renewable energy sources. To conclude, we provide an outlook on alternative designs of premium schemes, and discuss whether they seem better suited for addressing the challenges ahead. - Highlights: • Premium schemes are used to align renewable energy sources (RES) with market signals. • We examine the effectiveness and efficiency of the German market premium scheme. • Participation in direct marketing has increased, but so have support costs. • For intermittent RES, incentives for demand-oriented production are insufficient. • Efficiency gains from exposing RES to market risks entail several trade-offs
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A diagnosis of eosinophilic esophagitis is associated with increased life insurance premiums.
Leiman, D A; Kochar, B; Posner, S; Fan, C; Patel, A; Shaheen, O; Keller, C Y; Koutlas, N T; Eluri, S; Dellon, E S
2018-05-24
Eosinophilic esophagitis (EoE) is a chronic disease that can be diagnosed at any age, but is not associated with malignancy and does not shorten lifespan. It remains unknown whether an EoE diagnosis affects insurability or insurance premium costs. We therefore aimed to determine whether a diagnosis of EoE affects the costs of life insurance. Our investigation was a secret shopper audit study whereby we contacted national insurance companies in the United States to evaluate the effect of a diagnosis of EoE on life insurance premiums. We constructed standardized case scenarios for males and females, including a 25-year-old and a 48-year-old without other comorbid conditions, who either had or did not have a diagnosis of EoE. Companies were asked for their best estimate for a $100,000 whole life insurance policy. Comparisons between median premiums were made using the Mann-Whitney U test. There were 20 national life insurance companies contacted and a total of 73 quotes were obtained. The median premium rate was similar for EoE and non-EoE cases at the younger age ($828 [IQR $576-1,020] vs. $756 [IQR $504-$804]; P = 0.10). However, the premium for the older case without EoE was 19% less expensive compared to a case with EoE ($1990 [IQR $1,248-2,350] vs. $2,375 [IQR $2,100-2568; P = 0.02]. This finding was not explained by sex or state of residence. Based on these findings, we conclude that life insurance premiums are significantly more expensive in the older patient case with EoE when compared to the same case without EoE. Patients with EoE and their providers should be aware of the additional cost associated with this diagnosis.
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Incentive-compatible guaranteed renewable health insurance premiums.
Herring, Bradley; Pauly, Mark V
2006-05-01
Theoretical models of guaranteed renewable insurance display front-loaded premium schedules. Such schedules both cover lifetime total claims of low-risk and high-risk individuals and provide an incentive for those who remain low-risk to continue to purchase the policy. Questions have been raised of whether actual individual insurance markets in the US approximate the behavior predicted by these models, both because young consumers may not be able to "afford" front-loading and because insurers may behave strategically in ways that erode the value of protection against risk reclassification. In this paper, the optimal competitive age-based premium schedule for a benchmark guaranteed renewable health insurance policy is estimated using medical expenditure data. Several factors are shown to reduce the amount of front-loading necessary. Indeed, the resulting optimal premium path increases with age. Actual premium paths exhibited by purchasers of individual insurance are close to the optimal renewable schedule we estimate. Finally, consumer utility associated with the feature is examined.
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The conditional size premium and intertemporal risk
DEFF Research Database (Denmark)
de Oliveira Souza, Thiago
2018-01-01
The size premium only appears in states with good expected stock returns as given by several state variables, such as the aggregate book-to-market. The annual premium is 15% when this variable is within the top 33% in historical terms and an insignificant 0.4% otherwise. This renders...
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Insurer Competition In Federally Run Marketplaces Is Associated With Lower Premiums.
Jacobs, Paul D; Banthin, Jessica S; Trachtman, Samuel
2015-12-01
Federal subsidies for health insurance premiums sold through the Marketplaces are tied to the cost of the benchmark plan, the second-lowest-cost silver plan. According to economic theory, the presence of more competitors should lead to lower premiums, implying smaller federal outlays for premium subsidies. The long-term impact of the Affordable Care Act on government spending will depend on the cost of these premium subsidies over time, with insurer participation and the level of competition likely to influence those costs. We studied insurer participation and premiums during the first two years of the Marketplaces. We found that the addition of a single insurer in a county was associated with a 1.2 percent lower premium for the average silver plan and a 3.5 percent lower premium for the benchmark plan in the federally run Marketplaces. We found that the effect of insurer entry was muted after two or three additional entrants. These findings suggest that increased insurer participation in the federally run Marketplaces reduces federal payments for premium subsidies. Project HOPE—The People-to-People Health Foundation, Inc.
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Empirical Analysis of the Impact of Inflation Targeting on the Risk Premium
Directory of Open Access Journals (Sweden)
Krušković Borivoje D.
2014-09-01
Full Text Available The basis for the conduct of monetary policy is monetary policy strategy. Monetary strategy is necessary for monetary policy makers to analyse all relevant information in order to undertake effective policy actions. Inflation targeting has enabled countries to achieve low inflation in the very short term. Due to this, the financial markets have adjusted their long-term inflation expectations and incorporated them into the interest rate. Risk premiums that compensate for the uncertainty of inflation have fallen. The aim of this paper is to examine how the adoption of inflation targeting affects the movement of the risk premium. The hypothesis we want to test is that the adoption of inflation targeting affects the reduction of the country risk premium by affecting the formation of a more stable macroeconomic environment through a more stable and predictable inflation rate in the medium and long term. The method used for evaluating the regression coefficients is the dynamic panel generalized method of moments (GMM. This method involves the use of conditional moments in endogenous and exogenous variables with a lag as instruments for the assessment of differential equations, while the difference lagged endogenous variables are used as instruments in the levels equation.
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2010-04-01
... AND ACCOUNTING PROCEDURE § 24.16 Overtime services; overtime compensation and premium pay for Customs... during his/her career with the Customs Service. If the dollar value of the average yearly number of...
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Selling Into the Sun: Price Premium Analysis of a Multi-State Dataset of Solar Homes
Energy Technology Data Exchange (ETDEWEB)
Adomatis, Sandra [Adomatis Appraisal Services, Punta Gorda, FL (United States); Jackson, Thomas [Texas A & M Univ. and Real Property Analytics Inc., College Station, TX (United States); Graff-Zivin, Joshua [Univ. of California, San Diego, CA (United States); Thayer, Mark [San Diego State Univ., CA (United States); Klise, Geoffrey [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Hoen, Ben [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
2015-01-01
Capturing the value that solar photovoltaic (PV) systems may add to home sales transactions is increasingly important. Our study enhances the PV-home-valuation literature by more than doubling the number of PV home sales analyzed (22,822 homes in total, 3,951 of which are PV) and examining transactions in eight states that span the years 2002–2013. We find that home buyers are consistently willing to pay PV home premiums across various states, housing and PV markets, and home types; average premiums across the full sample equate to approximately $4/W or $15,000 for an average-sized 3.6-kW PV system. Only a small and non-statistically significant difference exists between PV premiums for new and existing homes, though some evidence exists of new home PV system discounting. A PV green cachet might exist, i.e., home buyers might pay a certain amount for any size of PV system and some increment more depending on system size. The market appears to depreciate the value of PV systems in their first 10 years at a rate exceeding the rate of PV efficiency losses and the rate of straightline depreciation over the asset’s useful life. Net cost estimates—which account for government and utility PV incentives—may be the best proxy for market premiums, but income-based estimates may perform equally well if they accurately account for the complicated retail rate structures that exist in some states. Although this study focuses only on host-owned PV systems, future analysis should focus on homes with third-party-owned PV systems.
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5 CFR 410.402 - Paying premium pay.
2010-01-01
... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Paying premium pay. 410.402 Section 410... for Training Expenses § 410.402 Paying premium pay. (a) Prohibitions. Except as provided by paragraph (b) of this section, an agency may not use its funds, appropriated or otherwise available, to pay...
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12 CFR 217.101 - Premiums on deposits.
2010-01-01
... from paying interest on a demand deposit. Premiums, whether in the form of merchandise, credit, or cash... AGAINST THE PAYMENT OF INTEREST ON DEMAND DEPOSITS (REGULATION Q) Interpretations § 217.101 Premiums on... that is not, directly or indirectly, related to or dependent on the balance in a demand deposit account...
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Premium adjustment: actuarial analysis on epidemiological models ...
African Journals Online (AJOL)
In this paper, we analyse insurance premium adjustment in the context of an epidemiological model where the insurer's future financial liability is greater than the premium from patients. In this situation, it becomes extremely difficult for the insurer since a negative reserve would severely increase its risk of insolvency, ...
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Development of the Public-Private Wage Differential in the Netherlands 1979-2009
Berkhout, E.; Salverda, W.
2012-01-01
The public premium has disappeared during the 1980s when public-private wage linkages have been abandoned. Although the balance was partly restored recently when wages in Education improved, the public premium was still -2% in 2009. On average, public sector wages are unfavourable for men, people
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Required Market Risk Premium among countries in 2012
Directory of Open Access Journals (Sweden)
Pablo Fernandez
2015-12-01
This survey also links with the Equity Premium Puzzle. It may be explained by the fact that many market participants use historical data and advice from textbooks and finance professors. Consequently, ex-ante equity premia have been high, most market prices have been consistently undervalued, and the ex-post risk premia has been also high. Many investors use historical data and textbook prescriptions to estimate the required and the expected equity premium, the undervaluation and the high ex-post risk premium are self fulfilling prophecies.
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Curb your premium! evaluating state intervention in medical malpractice insurance
Sofia, AmaralGarcia; Veronica, Grembi
2011-01-01
Using data of Italian public healthcare providers over years 2001 through 2008, we evaluate the impact of two policies adopted by Italian Regions (i.e., States) to cope with increasing medical malpractice costs using a Difference-in-Difference specification. We assess the impact of the policies on premiums paid and legal expenditures. The first policy consisted in collecting information and monitoring both compensation requests and any legal action related to a medical malpractice claim again...
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7 CFR 1962.29 - Payment of fees and insurance premiums.
2010-01-01
... 7 Agriculture 14 2010-01-01 2009-01-01 true Payment of fees and insurance premiums. 1962.29... Security § 1962.29 Payment of fees and insurance premiums. (a) Fees. (1) Security instruments. Borrowers... the service cannot be obtained without cost. (b) Insurance premiums. County Supervisors are authorized...
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24 CFR 266.608 - Mortgage insurance premium: Pro rata refund.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Pro... PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.608 Mortgage insurance premium: Pro rata refund. If the Contract of Insurance is terminated by payment in full or is terminated...
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Demystifying first-cost green building premiums in healthcare.
Houghton, Adele; Vittori, Gail; Guenther, Robin
2009-01-01
This study assesses the extent of "first-cost green building construction premiums" in the healthcare sector based on data submitted by and interviews with 13 current LEED-certified and LEED-registered healthcare project teams, coupled with a literature survey of articles on the topics of actual and perceived first-cost premiums associated with green building strategies. This analysis covers both perceived and realized costs across a range of projects in this sector, leading to the following conclusions: Construction first-cost premiums may be lower than is generally perceived, and they appear to be independent of both building size and level of "green" achievement; projects are using financial incentives and philanthropy to drive higher levels of achievement; premiums are decreasing over time; and projects are benefiting from improvements in health and productivity which, although difficult to monetize, are universally valued.
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Height premium for job performance.
Kim, Tae Hyun; Han, Euna
2017-08-01
This study assessed the relationship of height with wages, using the 1998 and 2012 Korean Labor and Income Panel Study data. The key independent variable was height measured in centimeters, which was included as a series of dummy indicators of height per 5cm span (wages to assess the heterogeneity in the height-wage relationship, across the conditional distribution of monthly wages. We found a non-linear relationship of height with monthly wages. For men, the magnitude of the height wage premium was overall larger at the upper quantile of the conditional distribution of log monthly wages than at the median to low quantile, particularly in professional and semi-professional occupations. The height-wage premium was also larger at the 90th quantile for self-employed women and salaried men. Our findings add a global dimension to the existing evidence on height-wage premium, demonstrating non-linearity in the association between height and wages and heterogeneous changes in the dispersion and direction of the association between height and wages, by wage level. Copyright © 2017 Elsevier B.V. All rights reserved.
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Latief, Yusuf; Berawi, Mohammed Ali; Basten, Van; Riswanto; Budiman, Rachmat
2017-07-01
Green building concept becomes important in current building life cycle to mitigate environment issues. The purpose of this paper is to optimize building construction performance towards green building premium cost, achieving green building rating tools with optimizing life cycle cost. Therefore, this study helps building stakeholder determining building fixture to achieve green building certification target. Empirically the paper collects data of green building in the Indonesian construction industry such as green building fixture, initial cost, operational and maintenance cost, and certification score achievement. After that, using value engineering method optimized green building fixture based on building function and cost aspects. Findings indicate that construction performance optimization affected green building achievement with increasing energy and water efficiency factors and life cycle cost effectively especially chosen green building fixture.
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24 CFR 232.825 - Pro rata refund of insurance premium.
2010-04-01
... ASSISTED LIVING FACILITIES Contract Rights and Obligations Premiums § 232.825 Pro rata refund of insurance premium. Upon termination of a loan insurance contract by a payment in full or by a voluntary termination... rata portion of the current annual loan insurance premium theretofore paid which is applicable to the...
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12 CFR 741.4 - Insurance premium and one percent deposit.
2010-01-01
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Insurance premium and one percent deposit. 741... Insurance premium and one percent deposit. (a) Scope. This section implements the requirements of Section... payment of an insurance premium. (b) Definitions. For purposes of this section: (1) Available assets ratio...
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77 FR 30377 - Health Insurance Premium Tax Credit
2012-05-23
... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax... categories of immigrants described in the Children's Health Insurance Program Reauthorization Act. One...
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24 CFR 241.825 - Pro rata refund of insurance premium.
2010-04-01
... Projects Without a HUD-Insured or HUD-Held Mortgage Premiums § 241.825 Pro rata refund of insurance premium... of the current annual loan insurance premium theretofore paid which is applicable to the portion of... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance...
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24 CFR 207.252e - Method of payment of mortgage insurance premiums.
2010-04-01
... insurance premiums. 207.252e Section 207.252e Housing and Urban Development Regulations Relating to Housing... Premiums § 207.252e Method of payment of mortgage insurance premiums. In the cases that the Commissioner... mortgagees, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...
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Premium Motorsi priimad päevad / Raigo Neudorf
Neudorf, Raigo
2007-01-01
Automüüja Premium Motors on edu saavutanud luksusmaasturi Hummer ning teiste USA eksklusiivsete automarkide müügiõigusega. Tabel: Rentaabel äri. Vt. samas: Palun kaks roosat Hummerit; Premium Motors hakkab sügisel Hiina maastureid müüma.
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76 FR 50931 - Health Insurance Premium Tax Credit
2011-08-17
... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of... relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care... be able to purchase private health insurance through State-based competitive marketplaces called...
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Premium Pricing of Liability Insurance Using Random Sum Model
Kartikasari, Mujiati Dwi
2017-01-01
Premium pricing is one of important activities in insurance. Nonlife insurance premium is calculated from expected value of historical data claims. The historical data claims are collected so that it forms a sum of independent random number which is called random sum. In premium pricing using random sum, claim frequency distribution and claim severity distribution are combined. The combination of these distributions is called compound distribution. By using liability claim insurance data, we ...
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Public support for social financing of health care in Switzerland.
Perneger, Thomas V; Hudelson, Patricia M
2005-01-01
The purpose of this study was to identify factors associated with the public's preference for financing health care according to people's ability to pay. The authors compared voters' support in 26 Swiss cantons for a legislative proposal to replace regionally rated health insurance premiums (current system) with premiums proportional to income and wealth, and co-financed through the value added tax. The vote took place in May 2003, and the initiative was rejected, with only 27 percent of support nationwide. However, support varied more than threefold, from 13 to 44 percent, among cantons. In multivariate analysis, support was most strongly correlated with the approval rate of the 1994 law on health insurance, which strengthened solidarity between the sick and the healthy. More modest associations were seen between support for the initiative and the health insurance premium of 2003, and proportions of elderly and urban residents in the population. Hence support for more social financing of health care was best explained by past preference for a social health insurance system in the local community.
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An empirical study of the information premium on electricity markets
International Nuclear Information System (INIS)
Benth, Fred Espen; Biegler-König, Richard; Kiesel, Rüdiger
2013-01-01
Due to the non-storability of electricity and the resulting lack of arbitrage-based arguments to price electricity forward contracts, a significant time-varying risk premium is exhibited. Using EEX data during the introduction of emission certificates and the German “Atom Moratorium” we show that a significant part of the risk premium in electricity forwards is due to different information sets in spot and forward markets. In order to show the existence of the resulting information premium and to analyse its size we design an empirical method based on techniques relating to enlargement of filtrations and the structure of Hilbert spaces. - Highlights: ► Electricity is non-storable and the classical spot–forward-relationship is invalid. ► Future information will cause an information premium for forward contracts. ► We model this premium mathematically using enlargement of filtrations. ► We develop a statistical method testing for the information premium empirically. ► We apply the test to the 2nd phase of the EUETS and the German “Atom Moratorium”
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Clearwood quality and softwood lumber prices: what's the real premium?
Thomas R. Waggener; Roger D. Fight
1999-01-01
Diminishing quantities of appearance grade lumber and rising price premiums for it have accompanied the transition from old-growth to young-growth timber. The price premiums for better grades are an incentive for producers to undertake investments to increase the yield of those higher valued products. Price premiums, however, are also an incentive for users to...
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Can large long-term investors capture illiquidity premiums
de Jong, F.C.J.M.; Driessen, J.J.A.G.
2015-01-01
In this paper we perform a literature study to assess whether large long-term investors can benefit from liquidity premiums in different asset classes. We both describe the theoretical predictions on liquidity premiums and portfolio choice with illiquidity, as well as empirical evidence on liquidity
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78 FR 7264 - Health Insurance Premium Tax Credit
2013-02-01
... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9611] RIN 1545-BL49 Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax credit...
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Medical malpractice reform and employer-sponsored health insurance premiums.
Morrisey, Michael A; Kilgore, Meredith L; Nelson, Leonard Jack
2008-12-01
Tort reform may affect health insurance premiums both by reducing medical malpractice premiums and by reducing the extent of defensive medicine. The objective of this study is to estimate the effects of noneconomic damage caps on the premiums for employer-sponsored health insurance. Employer premium data and plan/establishment characteristics were obtained from the 1999 through 2004 Kaiser/HRET Employer Health Insurance Surveys. Damage caps were obtained and dated based on state annotated codes, statutes, and judicial decisions. Fixed effects regression models were run to estimate the effects of the size of inflation-adjusted damage caps on the weighted average single premiums. State tort reform laws were identified using Westlaw, LEXIS, and statutory compilations. Legislative repeal and amendment of statutes and court decisions resulting in the overturning or repealing state statutes were also identified using LEXIS. Using a variety of empirical specifications, there was no statistically significant evidence that noneconomic damage caps exerted any meaningful influence on the cost of employer-sponsored health insurance. The findings suggest that tort reforms have not translated into insurance savings.
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48 CFR 2132.770 - Insurance premium payments and special contingency reserve.
2010-10-01
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Insurance premium payments... GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Contract Funding 2132.770 Insurance premium payments and special contingency reserve. Insurance premium payments and a special contingency reserve are made...
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Generalized financial ratios to predict the equity premium
Algaba, Andres; Boudt, Kris
2017-01-01
Empirical evidence for the price-dividend ratio to be a predictor of the equity premium is weak. We argue that changes in the economic conditions and market composition lead to a time-varying relationship between prices, dividends and the equity premium. Exploiting the information in the rolling
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24 CFR 213.256 - Premiums; insurance upon completion.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums; insurance upon completion... HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES COOPERATIVE HOUSING MORTGAGE INSURANCE Contract Rights and Obligations-Projects § 213.256 Premiums...
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The dynamics of risk premiums in Nord Pool's futures market
Energy Technology Data Exchange (ETDEWEB)
Mork, E. [Consultant, Oslo (Norway)
2006-04-15
Premiums in futures prices are usually considered through the use of 2 models: a no-arbitrage model; and the equilibrium approach or theory of normal backwardation. The no-arbitrage approach equates futures prices with spot prices, storage costs and convenience yields, and is difficult to apply to electricity markets. This paper investigated future electricity prices in Nord Pool's futures market using an equilibrium approach, which split futures prices into an expected spot price component and a risk premium component. Three main hypotheses were used: (1) that risk premiums were present in the Nord Pool futures market during the period 1997-2004; that risk premiums in the Nord Pool futures market were smaller or absent during the period of 2000 to 2002; and, that there was a significant change in risk premiums in Nord Pool's futures market after the winter of 2002-2003 due to a change in consumer hedging behaviour. Futures prices were compared to realized spot prices in their delivery periods in order to test the hypotheses. In order to estimate the futures premiums, a 1-sample test was performed on the entire period for 1, 30, 60, and 90 days before delivery of the block or month contract. The test employed the null hypothesis that the futures premiums were 0. Premiums were positive and varied between 3.7 per cent and 9.3 per cent. The purpose of the study was to determine whether risk premiums were present. Results showed that risk premiums varied over time. Two additional hypotheses were then investigated to examine whether the presence of outside speculators reduced risk premiums, and to see if a period of high prices and volatility caused more buyers to hedge in the futures market. Results showed that in the face of volatility and higher prices, consumers do not purchase fixed-price contracts which would ultimately increase futures premiums in the market. It was concluded that premiums are an important element in the pricing of Nord Pool futures and
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International Nuclear Information System (INIS)
Portela, Josmael; Figueira, Rosania Lucia
2005-01-01
The risk premium and insalubrity have been widely discussed in the legal universe/labor. The social and economic impacts interfere on the right of the professional exposed to ionizing radiation to have or not additional rights. Due to the large accidents, with world repercussion, which occurred in recent times, involving workers undergoing these radiation, these professionals are receiving special attention by the competent bodies on the right or not to risk premium and insalubrity. The professional who operates equipment that emit ionising radiation, or those working directly with radioisotopes are undoubtedly under imminent risk, even if they complied with all safety requirements, thus deserving a more careful analysis by our lawyers with respect to receive additional percentages. Recent decisions of higher Courts begin to consolidate a more just and logical reasoning on the subject
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24 CFR 266.610 - Method of payment of mortgage insurance premiums.
2010-04-01
... insurance premiums. 266.610 Section 266.610 Housing and Urban Development Regulations Relating to Housing... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.610 Method of payment of mortgage insurance premiums. In the cases that the Commissioner deems appropriate, the...
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The Risk Premium for Equity : Explanations and Implications
Grant, S.; Quiggin, J.
2001-01-01
The equity premium puzzle shows that using standard parameters and setup, the Consumption-based Capital Asset Pricing Model's (CCAPM's) prediction of the premium associated with systematic risk is out by an order of magnitude.The object of this paper is to consider the implications of each of the
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Trish, Erin E; Herring, Bradley J
2015-07-01
The US health insurance industry is highly concentrated, and health insurance premiums are high and rising rapidly. Policymakers have focused on the possible link between the two, leading to ACA provisions to increase insurer competition. However, while market power may enable insurers to include higher profit margins in their premiums, it may also result in stronger bargaining leverage with hospitals to negotiate lower payment rates to partially offset these higher premiums. We empirically examine the relationship between employer-sponsored fully-insured health insurance premiums and the level of concentration in local insurer and hospital markets using the nationally-representative 2006-2011 KFF/HRET Employer Health Benefits Survey. We exploit a unique feature of employer-sponsored insurance, in which self-insured employers purchase only administrative services from managed care organizations, to disentangle these different effects on insurer concentration by constructing one concentration measure representing fully-insured plans' transactions with employers and the other concentration measure representing insurers' bargaining with hospitals. As expected, we find that premiums are indeed higher for plans sold in markets with higher levels of concentration relevant to insurer transactions with employers, lower for plans in markets with higher levels of insurer concentration relevant to insurer bargaining with hospitals, and higher for plans in markets with higher levels of hospital market concentration. Copyright © 2015 Elsevier B.V. All rights reserved.
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24 CFR 203.260 - Amount of mortgage insurance premium (periodic MIP).
2010-04-01
... Mortgage Insurance Premiums-Periodic Payment § 203.260 Amount of mortgage insurance premium (periodic MIP... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Amount of mortgage insurance premium (periodic MIP). 203.260 Section 203.260 Housing and Urban Development Regulations Relating to...
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24 CFR 251.6 - Method of payment of mortgage insurance premiums.
2010-04-01
... insurance premiums. 251.6 Section 251.6 Housing and Urban Development Regulations Relating to Housing and... HOUSING PROJECTS § 251.6 Method of payment of mortgage insurance premiums. In the cases that the... affected lenders, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...
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24 CFR 236.252 - First, second, and third mortgage insurance premiums.
2010-04-01
... insurance premiums. 236.252 Section 236.252 Housing and Urban Development Regulations Relating to Housing... insurance premiums. All of the provisions of § 207.252 of this chapter governing the first, second, and third mortgage insurance premiums shall apply to mortgages insured under this subpart, except: (a) Where...
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PENGARUH KEBIJAKAN HARGA BBM, JUMLAH SEPEDA MOTOR, PENDAPATAN PERKAPITA TERHADAP KONSUMSI PREMIUM
Directory of Open Access Journals (Sweden)
Tri Atmojo
2017-06-01
Full Text Available Konsumsi BBM di Indonesia semakin meningkat karena meningkatnya pendapatan masyarakat, jumlah kendaraan bermotor di Indonesia. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh kebijakan harga BBM, kendaraan bermotor (motor, pendapatan perkapita terhadap konsumsi BBM (Premium. Objek penelitian ini adalah konsumsi BBM di Republik Indonesia kurun waktu 1985-2014. Penelitian ini menggunakan desain penelitian dengan pendekatan kuantitatif. Analisis data menggunakan analisis Regresi Linier Berganda dengan metode Ordinary Least Square (OLS. Berdasarkan hasil penelitian dapat disimpulkan bahwa kebijakan harga berpengaruh signifikan terhadap konsumsi premium, pendapatan per kapita berpengaruh positif terhadap konsumsi premium, jumlah sepeda motor berpengaruh positif terhadap konsumsi premium, serta harga BBM, pendapatan perkapita, dan jumlah sepeda motor secara serentak berpengaruh positif terhadap konsumsi premium. Fuel consumption in Indonesia is increasing due to rising incomes, the number of motor vehicles in Indonesia. The purpose of this study was to determine the effect of fuel price policy, motor vehicles (motorcycles, per capita income on the consumption of fuel (Premium. The object of this study is the fuel consumption in the Republic of Indonesia period 1985-2014. The design of this research study with a quantitative approach. Analyzed using Multiple Linear Regression Ordinary Least Square method (OLS. Based on the results of this study concluded that the pricing policies have a significant effect on the consumption of premium, per capita income has positive influence on consumption of premium, the number of motorcycles positive effect on premium consumption, as well as fuel prices, per capita income, and the number of motorcycles simultaneously positive effect on consumption of premium.
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Log-supermodularity of weight functions and the loading monotonicity of weighted insurance premiums
Hristo S. Sendov; Ying Wang; Ricardas Zitikis
2010-01-01
The paper is motivated by a problem concerning the monotonicity of insurance premiums with respect to their loading parameter: the larger the parameter, the larger the insurance premium is expected to be. This property, usually called loading monotonicity, is satisfied by premiums that appear in the literature. The increased interest in constructing new insurance premiums has raised a question as to what weight functions would produce loading-monotonic premiums. In this paper we demonstrate a...
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Health insurance premium tax credit. Final regulations.
2013-02-01
This document contains final regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.These final regulations provide guidance to individuals related to employees who may enroll in eligible employer-sponsored coverage and who wish to enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit.
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The value premium within and across GICS industry sectors in a pre-financial collapse sample
Directory of Open Access Journals (Sweden)
Kenneth E. Scislaw
2015-12-01
Full Text Available A portfolio manager employing a top-down/bottom-up method who seeks to capture the value premium long promised in academic literature would want to first determine whether the premium exists across industries and not just observed in firm-specific book-to-market (BE/ME relationships. Next, the investor would want to know if BE/ME characteristics are stable across these defined homogeneous groups or whether there is considerable variation. Results show that certain industries appear to have a natural or structural tendency to reflect either a high or low BE/ME characteristic. Results also shows that growth-oriented industry BE/ME characteristics appear to be more stable than value-oriented industries over time. Moreover, stocks from growth-oriented industries tend to cluster at high rates in the lowest BE/ME quintile, while stocks from value-oriented industries appear more evenly distributed across middle BE/ME quintiles over time. Value stocks found in growth sectors outperform value stocks in value sectors, contrary to prior published results. The January premium exists both within and across Global Industry Classification Standard industry sectors, but the value premium is not subsumed by the January effect in either analysis.
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Skaczkowski, Gemma; Durkin, Sarah; Kashima, Yoshihisa; Wakefield, Melanie
2017-01-16
To examine the effect of branding, as indicated by brand name, on evaluation of the cigarette smoking experience. Between-subjects and within-subjects experimental study. Participants were randomly allocated to smoke a cigarette from a pack featuring a premium brand name and a cigarette from a pack featuring a value brand name. Within each condition, participants unknowingly smoked two identical cigarettes (either two premium or two value cigarettes). Australia, October 2014, 2 years after tobacco plain packaging implementation. 81 current cigarette smokers aged 19-39 years. From apparently premium and value brand-name packs, 40 smokers were allocated to smoke the same actual premium cigarettes and 41 were allocated to smoke the same actual value cigarettes. Experienced taste (flavour, satisfaction, enjoyment, quality, liking, mouthfeel and aftertaste), harshness, dryness, staleness, harm/strength measures (strength, tar, lightness, volume of smoke), draw effort and purchase intent. Cigarettes given a premium brand name were rated as having a better taste, were less harsh and less dry than identical cigarettes given a value brand name. This pattern was observed irrespective of whether the two packs actually contained premium or value cigarettes. These effects were specific: the brand name did not influence ratings of cigarette variant attributes (strength, tar, volume of smoke, lightness and draw effort). Despite the belief that brand names represent genuine differences between cigarette products, the results suggest that at least some of this perceived sensory difference is attributable to brand image. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.
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THE EQUITY PREMIUM PUZZLE AND EMOTIONAL ASSET PRICING
MARC GÜRTLER; NORA HARTMANN
2007-01-01
"Since the equity premium as well as the risk-free rate puzzle question the concepts central to financial and economic modeling, we apply behavioral decision theory to asset pricing in view of solving these puzzles. U.S. stock market data for the period 1960-2003 and German stock market data for the period 1977-2003 show that emotional investors who act in accordance to Bell's (1985) disappointment theory -a special case of prospect theory- and additionally administer mental accounts demand a...
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24 CFR 236.253 - Premiums-operating loss loans.
2010-04-01
... Obligations for Mortgage Insurance § 236.253 Premiums—operating loss loans. All of the provisions of § 207.252a of this chapter relating to mortgage insurance premiums on operating loss loans shall apply to... Act the mortgage insurance premiums due in accordance with § 207.252a shall be calculated on the basis...
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Differing Impacts Of Market Concentration On Affordable Care Act Marketplace Premiums.
Scheffler, Richard M; Arnold, Daniel R; Fulton, Brent D; Glied, Sherry A
2016-05-01
Recent increases in market concentration among health plans, hospitals, and medical groups raise questions about what impact such mergers are having on costs to consumers. We examined the impact of market concentration on the growth of health insurance premiums between 2014 and 2015 in two Affordable Care Act state-based Marketplaces: Covered California and NY State of Health. We measured health plan, hospital, and medical group market concentration using the well-known Herfindahl-Hirschman Index (HHI) and used a multivariate regression model to relate these measures to premium growth. Both states exhibited a positive association between hospital concentration and premium growth and a positive (but not statistically significant) association between medical group concentration and premium growth. Our results for health plan concentration differed between the two states: It was positively associated with premium growth in New York but negatively associated with premium growth in California. The health plan concentration finding in Covered California may be the result of its selectively contracting with health plans. Project HOPE—The People-to-People Health Foundation, Inc.
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Employer choices of family premium sharing.
Vistnes, Jessica Primoff; Morrisey, Michael A; Jensen, Gail A
2006-03-01
In 1997, nearly two-thirds of married couples with children under age 18 were dual-earner couples. Such families may have a variety of insurance options available to them. If so, declining a high employee premium contribution may be a mechanism for one spouse to take money wages in lieu of coverage while the other spouse takes coverage rather than high wages. Employers may use these preferences and the size of premium contributions to encourage workers to obtain family coverage through their spouse. The purpose of this paper is to explore the effects of labor force composition, particularly the proportion of dual-earner couples in the labor market, on the marginal employee premium contribution (marginal EPC) for family coverage. We analyze data from the 1997-2001 Medical Expenditure Panel Survey--Insurance Component (MEPS-IC) List Sample of private establishments. We find strong evidence that the marginal EPC for family coverage is higher when there is a larger concentration of women in the workforce, but only in markets with a higher proportion of dual-earner households.
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What drives insurer participation and premiums in the Federally-Facilitated Marketplace?
Abraham, Jean Marie; Drake, Coleman; McCullough, Jeffrey S; Simon, Kosali
2017-12-01
We investigate determinants of market entry and premiums within the context of the Affordable Care Act's Marketplaces for individual insurance. Using Bresnahan and Reiss (1991) as the conceptual framework, we study how competition and firm heterogeneity relate to premiums in 36 states using Federally Facilitated or Supported Marketplaces in 2016. Our primary data source is the Qualified Health Plan Landscape File, augmented with market characteristics from the American Community Survey and Area Health Resource File as well as insurer-level information from federal Medical Loss Ratio annual reports. We first estimate a model of insurer entry and then investigate the relationship between a market's predicted number of entrants and insurer-level premiums. Our entry model results suggest that competition is increasing with the number of insurers, most notably as the market size increases from 3 to 4 entrants. Results from the premium regression suggest that each additional entrant is associated with approximately 4% lower premiums, controlling for other factors. An alternative explanation for the relationship between entrants and premiums is that more efficient insurers (who can price lower) are the ones that enter markets with many entrants, and this is reflected in lower premiums. An exploratory analysis of insurers' non-claims costs (a proxy for insurer efficiency) reveals that average costs among entrants are rising slightly with the number of insurers in the market. This pattern does not support the hypothesis that premiums decrease with more entrants because those entrants are more efficient, suggesting instead that the results are being driven mostly by price competition.
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24 CFR 266.606 - Mortgage insurance premium: Duration and method of paying.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... AFFORDABLE MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.606 Mortgage insurance premium: Duration and method of paying. (a) Duration of payments. Mortgage insurance...
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Choi, Sunha
2017-03-01
This study examined out-of-pocket premium burden of mid-life Asian Americans by comparing six sub-groups of Asians after controlling for geographic clustering at the county and state levels. The 2007-2011 National Health Interview Survey was linked to community-level data and analyzed for 4,628 Asians (ages 50-64), including 697 Asian Indians, 1,125 Chinese, 1,393 Filipinos, 434 Japanese, 524 Koreans, and 455 Vietnamese. Non-Hispanic Whites were included as a comparison group ( n = 48,135). Three-level multilevel modeling (state > county > individual) was conducted. Koreans and Vietnamese were found as vulnerable sub-groups considering their lower private health insurance rates and higher uninsured rates. Among those with private insurance, Asians, specifically Filipinos, paid significantly less than non-Hispanic Whites. Moderate but significant variations in the county- and state-level variance in out-of-pocket premiums were found, especially among mid-life Asians. This study demonstrates the importance of examining within-group heterogeneity and geographic variations in understanding premium burden among mid-life Asians.
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Price premium of organic salmon in Danish retail sale
DEFF Research Database (Denmark)
Ankamah Yeboah, Isaac; Nielsen, Max; Nielsen, Rasmus
2016-01-01
for organic salmon in Danish retail sale using consumer panel scanner data from households by applying a random effect hedonic price model that permits unobserved household heterogeneity. A price premium of 20% was identified for organic salmon. The magnitude of this premium is comparable to organic labeled...
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77 FR 41048 - Health Insurance Premium Tax Credit; Correction
2012-07-12
... the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9590] RIN 1545-BJ82 Health Insurance Premium Tax Credit; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION...
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Impact of terrorism and political instability on equity premium: Evidence from Pakistan
MengYun, Wu; Imran, Muhammad; Zakaria, Muhammad; Linrong, Zhang; Farooq, Muhammad Umer; Muhammad, Shah Khalid
2018-02-01
The study quantifies the impact of terrorism and political instability on firm equity premium in Pakistan using panel data for 306 non-financial firms for the period 2001 to 2014. Other variables included are law & order, government regime change and financial crisis of 2007/08. The estimated results reveal that terrorism has statistically significant negative impact on firm equity premium in Pakistan. This result is robust with alternative equation specifications. The result also remains same when terrorism variable is replaced with external and internal conflict variables. Law & order variable has significant positive effect on firm equity premium, which implies that equity premium increases with the improvement in law & order situation in the country. Equity premium also increases with government stability and when there is democratic system in the country. The result also reveals that global financial crisis of 2007/08 negatively influenced the firm equity premium. The study suggests some policy implications.
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Interdependence of life insurance service quality and premium
Directory of Open Access Journals (Sweden)
Dragan Benazić
2006-12-01
Full Text Available Insurance companies in Croatia feel the need to find new sources of competitive advantage on the Croatian life insurance market amid increasing competition and a poorly profiled offer of life insurance services. Lately, both marketing literature and practice seem to point to the shaping of a relationship between service quality and price as a possible solution to improving the position of insurance companies on the Croatian market. In providing life insurance services, the insurance companies should focus on the quality elements that offer certain benefits a client is willing to pay for. Changes in individual quality features have been evaluated differently by clients. Such differences in their evaluation of changes in the individual elements of service quality also reflect the willingness of clients to pay a suitable increase on their insurance premium. Improvements in the service quality features that are subjectively evaluated as important should lead to the client’s acceptance of a higher life insurance premium. The paper considers the interdependence between the quality of life insurance services and the premium from the aspect of the client’s willingness to pay a higher life insurance premium for a higher service quality.
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24 CFR 203.22 - Payment of insurance premiums or charges; prepayment privilege.
2010-04-01
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Payment of insurance premiums or... Underwriting Procedures Eligible Mortgages § 203.22 Payment of insurance premiums or charges; prepayment privilege. (a) Payment of periodic insurance premiums or charges. Except with respect to mortgages for which...
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26 CFR 1.848-2 - Determination of net premiums.
2010-04-01
... reinsurance agreements with parties not subject to United States taxation) are treated separately and are... consideration includes— (i) Advance premiums; (ii) Amounts in a premium deposit fund or similar account, to the... parties not subject to United States taxation. (2) Net consideration determined by a ceding company—(i) In...
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31 CFR 337.13 - Payment of mortgage insurance premiums.
2010-07-01
... insurance premiums. When book-entry debentures are being purchased prior to maturity to pay for mortgage insurance premiums, the difference between the amount of the debentures purchased and the mortgage insurance... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Payment of mortgage insurance...
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Does Interest rate Exposure explain the Low-Volatility Anomaly?
Driessen, Joost; Kuiper, Ivo; Beilo, R.
We show that part of the outperformance of low-volatility stocks can be explained by a premium for interest rate exposure. Low-volatility stock portfolios have negative exposure to interest rates, whereas the more volatile stocks have positive exposure. Incorporating an interest rate premium
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TESTING FOR RISK PREMIUMS IN THE WHEAT-FLOUR SUBSECTOR
Cotterill, Ronald W.; Salih, Hachim M.
1992-01-01
This paper specifies a model of wholesale flour price determination that incorporates risk measures for input prices (wheat) and a joint output price (millfeed). Tests using daily price data for a Buffalo flour miller indicate that risk premiums do exist. Moreover, these premiums persist in a model that incorporates hedging.
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Decreasing relative risk premium
DEFF Research Database (Denmark)
Hansen, Frank
2007-01-01
such that the corresponding relative risk premium is a decreasing function of present wealth, and we determine the set of associated utility functions. We find a new characterization of risk vulnerability and determine a large set of utility functions, closed under summation and composition, which are both risk vulnerable...
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5 CFR 890.502 - Withholdings, contributions, LWOP, premiums, and direct premium payment.
2010-01-01
... amount equal to the premiums for a pay period during which the employee was in a leave without pay (LWOP... for every pay period during which the enrollment continues, except for the 31-day temporary extension... 365 days. (1) An employee who is granted leave without pay (LWOP) under subpart L of part 630 of this...
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Fixed-premium deposit insurance and international credit crunches
Mark M. Spiegel
1996-01-01
This article introduces a monopolistically competitive model of foreign lending in which both explicit and implicit fixed-premium deposit insurance increase the degree to which bank participation in relending to problem debtors falls below its globally optimal level. This provides a channel for fixed-premium deposit insurance to inhibit credit extension in bad states, resulting in an increase in the expected default percentage and an increase in the expected burden on the deposit insurance in...
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Mating motives are neither necessary nor sufficient to create the beauty premium.
Hafenbrädl, Sebastian; Dana, Jason
2017-01-01
Mating motives lead decision makers to favor attractive people, but this favoritism is not sufficient to create a beauty premium in competitive settings. Further, economic approaches to discrimination, when correctly characterized, could neatly accommodate the experimental and field evidence of a beauty premium. Connecting labor economics and evolutionary psychology is laudable, but mating motives do not explain the beauty premium.
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The effect of virtual bidding on forward premiums in the New York wholesale energy market
Knudsen, Andrew D.
In many parts of the United States, the power industry has been deregulated and replaced with regional wholesale energy markets, where utilities purchase electricity from generators at competitive market rates for subsequent distribution to customers. Numerous studies have shown that in each of these markets, the price of energy purchased in the Day Ahead (futures) market exceeds the price in the Real Time (spot) market on average. The existence of this "forward premium" is evidence of market inefficiency and may indicate participants' aversion to risk in the Real Time market or the exercise of market power by generators. To address this inefficiency, the New York Independent System Operator introduced a virtual bidding system within its wholesale market, which permitted participants to engage in purely financial transactions and hedge their exposure to risk. The new policy was expected to promote price convergence by allowing bidders to arbitrage expected differences between Day Ahead and Real Time prices. This study examines whether the presence of virtual bidding was associated with a change in the mean value and magnitude of forward premiums in the NYISO energy market. The study applies a GARCH model to hourly pricing data from 2001 to 2009, controlling for temperature and economic activity. The results indicate that prior to 2005, virtual bidding was associated with significantly lower and less volatile forward premiums in New York's five most congested zones but with increased premiums in the remaining less congested zones. However, when the entire period from 2001 to 2009 is examined, the results suggest that prices have become significantly more divergent in the presence of virtual bidding. Closer examination of the data reveals a dramatic increase in forward premium volatility across all zones beginning in 2005 that is not accounted for by temperature or economic activity and may have biased the results. This study attempts to account for this unexplained
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26 CFR 1.163-11T - Allocation of certain prepaid qualified mortgage insurance premiums (temporary).
2010-04-01
... insurance premiums (temporary). 1.163-11T Section 1.163-11T Internal Revenue INTERNAL REVENUE SERVICE... insurance premiums (temporary). (a) Allocation—(1) In general. As provided in section 163(h)(3)(E), premiums... section applies whether the qualified mortgage insurance premiums are paid in cash or are financed...
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The impact of instant reward programs and bonus premiums on consumer purchase behavior
Minnema, Alec; Bijmolt, Tammo H. A.; Non, Marielle C.
This study examines the impact of an instant reward program (IRP) with bonus premiums on consumer purchase behavior. An IRP is a rapidly growing form of short-term program that rewards consumers instantly with small premiums per fixed spending, where these premiums are part of a larger set of
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The Public-Private Sector Pay Gap in Ireland: What Lies Beneath?
Kelly, Elish; McGuinness, Seamus; O'Connell, Philip J.
2009-01-01
This paper provides a sub-sectoral analysis of changes in the public-private sector pay gap in Ireland between 2003 and 2006. We find that between March 2003 and October 2006 the public sector pay premium increased from 14 to 26 per cent and that there was substantial variation between subsectors of the public service. Within the public service the premium in 2006 was highest in Education and Security Services and lowest in the Civil Service and Local Authorities. In the private sector the pa...
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Publication rates following pancreas meetings.
Timmer, A; Blum, T; Lankisch, P G
2001-08-01
Publication rates and determinants of publication were studied based on abstracts presented at pancreatic meetings. All abstracts presented at the 1994 and 1995 annual meetings of the European Pancreatic Club (EPC) and the American Pancreatic Association (APA) were followed up by searching MEDLINE. Publication rates were compared using log-rank tests and multiple logistic regression. The prestige of the publishing journals was compared using Kruskal-Wallis tests on scientific impact factors (SIF). Overall, 340 abstracts were presented at the EPC, and 254 were presented at the APA. Of these, 203 (59.7%, EPC) and 138 (54.3%, APA) were later published in peer-reviewed journals. Publication rates did not differ by study type or country region of origin. In addition, median SIFs were similar by conference (APA vs. EPC) and research type (basic science vs. clinical studies) (overall, 1.7). However, North American and North/West European articles were published in higher impact journals as compared with those from other countries. Publication rates and median journal SIFs in pancreas research are similar to those reported from other medical specialty meetings. There is no difference by conference, type of research, or origin (North American vs. European).
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5 CFR 892.301 - How do I pay my premium?
2010-01-01
... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false How do I pay my premium? 892.301 Section 892.301 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Contributions and...
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The Phantom Gender Difference in the College Wage Premium
Hubbard, William H. J.
2011-01-01
A growing literature seeks to explain why so many more women than men now attend college. A commonly cited stylized fact is that the college wage premium is, and has been, higher for women than for men. After identifying and correcting a bias in estimates of college wage premiums, I find that there has been essentially no gender difference in the…
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The marriage premium and compensating wage differentials.
Reed, W R; Harford, K
1989-12-01
This paper proposes and tests an alternative explanation of the marriage premium that relies upon differences in workers' tastes and compensating wage differentials. A key assumption is that marital status proxies for the consumption of family goods, such as children, and that these are costly. Workers whose greater demands for family goods are taste- generated and shown to choose jobs that offer greater wage, and less non-pecuniary compensation. This creates an observed wage premium that has nothing to do with differences in workers' productivities. Supporting empirical evidence for this hypothesis is presented, including a reevaluation of previous studies.
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Dinerstein, Eric; Varma, Keshav; Wikramanayake, Eric; Powell, George; Lumpkin, Susan; Naidoo, Robin; Korchinsky, Mike; Del Valle, Christian; Lohani, Shubash; Seidensticker, John; Joldersma, Dirk; Lovejoy, Thomas; Kushlin, Andrey
2013-02-01
We propose the wildlife premium mechanism as an innovation to conserve endangered large vertebrates. The performance-based payment scheme would allow stakeholders in lower-income countries to generate revenue by recovering and maintaining threatened fauna that can also serve as umbrella species (i.e., species whose protection benefits other species with which they co-occur). There are 3 possible options for applying the premium: option 1, embed premiums in a carbon payment; option 2, link premiums to a related carbon payment, but as independent and legally separate transactions; option 3, link premiums to noncarbon payments for conserving ecosystem services (PES). Each option presents advantages, such as incentive payments to improve livelihoods of rural poor who reside in or near areas harboring umbrella species, and challenges, such as the establishment of a subnational carbon credit scheme. In Kenya, Peru, and Nepal pilot premium projects are now underway or being finalized that largely follow option 1. The Kasigau (Kenya) project is the first voluntary carbon credit project to win approval from the 2 leading groups sanctioning such protocols and has already sold carbon credits totaling over $1.2 million since June 2011. A portion of the earnings is divided among community landowners and projects that support community members and has added over 350 jobs to the local economy. All 3 projects involve extensive community management because they occur on lands where locals hold the title or have a long-term lease from the government. The monitoring, reporting, and verification required to make premium payments credible to investors include transparent methods for collecting data on key indices by trained community members and verification of their reporting by a biologist. A wildlife premium readiness fund would enable expansion of pilot programs needed to test options beyond those presented here. © 2012 Society for Conservation Biology.
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Stop-loss premiums under dependence
Albers, Willem/Wim
1999-01-01
Stop-loss premiums are typically calculated under the assumption that the insured lives in the underlying portfolio are independent. Here we study the effects of small departures from this assumption. Using Edgeworth expansions, it is made transparent which configurations of dependence parameters
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Premium Forecasting of an Insurance Company: Automobile Insurance
Fouladvand, M. Ebrahim; Darooneh, Amir H.
2002-01-01
We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, total number of the insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence a crossover premium p_c below which the company is loss-making. Above p_c, we also give detailed statistical ana...
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Country Value Premiums and Financial Crises
Directory of Open Access Journals (Sweden)
Adam Zaremba
2014-01-01
Full Text Available The paper concentrates on the value premium across countries and contributes to the investment and asset pricing literature in three ways. First, I provide fresh evidence that the high-value countries perform significantly better than the low-value countries. Additionally, this phenomenon is indifferent to the choice of the computational currency, representative index or value indicator. Second, I demonstrate that the value effect can be successfully amplified by combining with country-level size and momentum effects. Third, I show that returns to the high-value countries deteriorate in financial crisis conditions, because the country-level value premium is negatively correlated with the credit spreads, TED spread and expected volatility. I examine data from 66 markets between years 2000 and 2013.
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2011-07-11
... Administration (FHA) Mortgage Insurance Premiums for Multifamily Housing Programs, Health Care Facilities and... mortgage insurance premiums (MIPs) for FHA Multifamily Housing, Health Care Facilities, and Hospital... mortgage insurance regulation at 24 CFR 207.254 provides as follows: Notice of future premium changes will...
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The Value Premium on the Danish Stock Market
DEFF Research Database (Denmark)
Risager, Ole
2005-01-01
research on this issue. The purpose of this paper is to report evidence for the Danish stock market and to test whether the value premium is a genuine long-term feature of the market or just a phenomenon that pops up now and then. To research this issue we have collected accounting and stock market data......A number of influential studies have documented a strong value premium for US stocks over the period 1963 to 1990 (Fama and French (1992), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean...... return than the high multiple growth firms. Work by Basu (1997) and others have shown that the value dominance is also a feature of the earlier market history of the United States. The value premium is reported also to exist in a number of other countries over the period 1975 to 1995 (Fama and French...
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24 CFR 220.806 - Pro rata refund of insurance premium.
2010-04-01
... refund of insurance premium. Upon termination of loan insurance contract by a payment in full or by a... equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance...
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75 FR 16645 - Increase in the Primary Nuclear Liability Insurance Premium
2010-04-02
... Primary Nuclear Liability Insurance Premium AGENCY: Nuclear Regulatory Commission. ACTION: Final rule... impractical. The NRC is amending its regulations to increase the primary premium for liability insurance... protection requirements and indemnity agreements to increase the primary nuclear liability insurance layer...
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Ter Braak, A.M.; Geyskens, I.; Dekimpe, M.G.
Premium private labels (PLs) are considered one of the hottest trends in grocery retailing. Still, retailers do not feel the need to introduce premium PLs in every category. Generalizing across approximately 150 categories for six retailers from two countries that already carry premium PLs for
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26 CFR 1.6050H-3T - Information reporting of mortgage insurance premiums (temporary).
2010-04-01
... Information reporting of mortgage insurance premiums (temporary). (a) Information reporting requirements. Any... section applies to the receipt of all payments of mortgage insurance premiums, by cash or financing... premiums is determined on a mortgage-by-mortgage basis. A recipient need not aggregate mortgage insurance...
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38 CFR 8.4 - Deduction of insurance premiums from compensation, retirement pay, or pension.
2010-07-01
...' Relief DEPARTMENT OF VETERANS AFFAIRS NATIONAL SERVICE LIFE INSURANCE Premiums § 8.4 Deduction of insurance premiums from compensation, retirement pay, or pension. The insured under a National Service life insurance policy which is not lapsed may authorize the monthly deduction of premiums from disability...
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Estimated value of insurance premium due to Citarum River flood by using Bayesian method
Sukono; Aisah, I.; Tampubolon, Y. R. H.; Napitupulu, H.; Supian, S.; Subiyanto; Sidi, P.
2018-03-01
Citarum river flood in South Bandung, West Java Indonesia, often happens every year. It causes property damage, producing economic loss. The risk of loss can be mitigated by following the flood insurance program. In this paper, we discussed about the estimated value of insurance premiums due to Citarum river flood by Bayesian method. It is assumed that the risk data for flood losses follows the Pareto distribution with the right fat-tail. The estimation of distribution model parameters is done by using Bayesian method. First, parameter estimation is done with assumption that prior comes from Gamma distribution family, while observation data follow Pareto distribution. Second, flood loss data is simulated based on the probability of damage in each flood affected area. The result of the analysis shows that the estimated premium value of insurance based on pure premium principle is as follows: for the loss value of IDR 629.65 million of premium IDR 338.63 million; for a loss of IDR 584.30 million of its premium IDR 314.24 million; and the loss value of IDR 574.53 million of its premium IDR 308.95 million. The premium value estimator can be used as neither a reference in the decision of reasonable premium determination, so as not to incriminate the insured, nor it result in loss of the insurer.
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The U.S. health insurance marketplace: are premiums truly affordable?
Graetz, Ilana; Kaplan, Cameron M; Kaplan, Erin K; Bailey, James E; Waters, Teresa M
2014-10-21
The Patient Protection and Affordable Care Act requires that individuals have health insurance or pay a penalty. Individuals are exempt from paying this penalty if the after-subsidy cost of the least-expensive plan available to them is greater than 8% of their income. For this study, premium data for all health plans offered on the state and federal health insurance marketplaces were collected; the after-subsidy cost of premiums for the least-expensive bronze plan for every county in the United States was calculated; and variations in premium affordability by age, income, and geographic area were assessed. Results indicated that-although marketplace subsidies ensure affordable health insurance for most persons in the United States-many individuals with incomes just above the subsidy threshold will lack affordable coverage and will be exempt from the mandate. Furthermore, young individuals with low incomes often pay as much as or more than older individuals for bronze plans. If substantial numbers of younger, healthier adults choose to remain uninsured because of cost, health insurance premiums across all ages may increase over time.
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Kang, Myong-Il
2010-01-01
This paper investigates whether the consumption-free two-beta intertemporal capital asset-pricing model developed by Campbell and Vuolteenaho (2004) is able to solve the risk premium puzzle in the Japanese stock market over the period 1984-2002. Using the cash flow and discount rate betas as risk factors, the model is able to explain about half of the market returns by selection of suitable vector autoregression variables. On this basis, the model proposed solves the risk premium puzzle in Ja...
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International Nuclear Information System (INIS)
Oliver, Henry; Volschenk, Jako; Smit, Eon
2011-01-01
A number of studies have explored the willingness (i.e. stated willingness as opposed to actual willingness) of consumers to pay a premium for green electricity in developed countries. However, little is known about how this translates into an emerging economy context. This study investigates the level of willingness of residential households in South Africa's Cape Peninsula to pay a premium for electricity from renewable energy. It methodologically drew on recent contributions in the literature on norm-motivated behaviour used to identify testable factors that could influence residential consumers' willingness to pay (WTP). Interestingly, the study found a significant positive link between household income and WTP for green electricity, contrary to the findings of some previous studies. Not only are higher income households more likely to pay a premium, but typically they are also willing to pay a bigger premium. It was also further established that the view that green electricity is reliable, involvement in the recycling of waste and the belief that everyone should contribute to green electricity generation drive the WTP. - Research Highlights: →The study explored the drivers of willingness to pay (WTP) a premium for green electricity. →All the hypothesised drivers of WTP a premium were found to be significant. →Contrary to some former studies, income was found to be a good predictor of WTP and the pledged premium. →The quantum of the premium positively correlates with income levels.
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Kopit, William G
2004-01-01
James Robinson suggests that recent consolidation in the insurance market has been a cause of higher health insurance prices (premiums). Although the recent consolidation among health insurers and rising premiums are indisputable, it is unlikely that consolidation has had any adverse effect on premiums nationwide, and Robinson provides no data that suggest otherwise. Specifically, he does not present data showing an increase in concentration in any relevant market during the past few years, let alone any resulting increase in premiums. Health insurance consolidation in certain local markets could adversely affect premiums, but it seems clear that it is not a major national antitrust issue.
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Ability and Willingness to Pay Premium in the Framework of National Health Insurance System
Directory of Open Access Journals (Sweden)
Aulia Abdillah Ramadhan
2015-12-01
Full Text Available Background: The National Health Insurance is one of the government’s efforts to improve community access to health services. The government has fixed the premiums to be paid by community, except for underprivileged community. The aim of the study was to identify Ability to Pay (ATP and Willingness to Pay (WTP of the national health insurance premium. Methods: A descriptive study which involved 210 housewives who were chosen by rapid survey method was conducted from September to November 2013 in Cipacing village, Jatinangor, Sumedang, West Java. Data collection was using questionnaire to obtain level of ability and willingness to pay the health insurance premium. The results were compared to the required premium by the government (Rp 22,000,-. Results: Most of the respondents were only housewives, but there were still respondents who were private workers. Most of them were 20–39 years old. About 57.6% of the respondents were able to pay for the required premium, but Only 17.4% of the them were willing to pay according to the required premium. Conclusions: The ATP of the respondents are higher compared to the WTP, meaning that most of the respondents are able to pay the requires premium but are not willing to pay it.
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24 CFR 252.6 - Method of payment of mortgage insurance premiums.
2010-04-01
... insurance premiums. 252.6 Section 252.6 Housing and Urban Development Regulations Relating to Housing and..., AND BOARD AND CARE HOMES § 252.6 Method of payment of mortgage insurance premiums. The provisions of..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...
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MCBS Highlights: Ownership and Average Premiums for Medicare Supplementary Insurance Policies
Chulis, George S.; Eppig, Franklin J.; Poisal, John A.
1995-01-01
This article describes private supplementary health insurance holdings and average premiums paid by Medicare enrollees. Data were collected as part of the 1992 Medicare Current Beneficiary Survey (MCBS). Data show the number of persons with insurance and average premiums paid by type of insurance held—individually purchased policies, employer-sponsored policies, or both. Distributions are shown for a variety of demographic, socioeconomic, and health status variables. Primary findings include: Seventy-eight percent of Medicare beneficiaries have private supplementary insurance; 25 percent of those with private insurance hold more than one policy. The average premium paid for private insurance in 1992 was $914. PMID:10153473
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24 CFR 255.6 - Method of payment of mortgage insurance premiums.
2010-04-01
... insurance premiums. 255.6 Section 255.6 Housing and Urban Development Regulations Relating to Housing and... PROJECTS § 255.6 Method of payment of mortgage insurance premiums. The provisions of 24 CFR 251.6 shall..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...
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5 CFR 892.102 - What is premium conversion and how does it work?
2010-01-01
...) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS... FEHB insurance premium. If you are a participant in the premium conversion plan, Section 125 of the...
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29 CFR 778.205 - Premiums for weekend and holiday work-example.
2010-07-01
... 29 Labor 3 2010-07-01 2010-07-01 false Premiums for weekend and holiday work-example. 778.205....205 Premiums for weekend and holiday work—example. The application of section 7(e)(6) may be illustrated by the following example: Suppose an agreement of employment calls for the payment of $7.50 an...
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Energy Technology Data Exchange (ETDEWEB)
Paschmann, Martin
2017-11-15
Analyzing price data from sequential German electricity markets, namely the day-ahead and intraday auction, a puzzling but apparently systematic pattern of price premiums can be identified. The price premiums are highly correlated with the underlying demand profile. As there is evidence that widespread models for electricity forward premiums are not applicable to the market dynamics under analysis, a theoretical model is developed within this article which reveals that non-convexities in only a subset of sequential markets with differing product granularity may cause systematic price premiums at equilibrium. These price premiums may be bidirectional and reflect a value for additional short-term power supply system flexibility.
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International Nuclear Information System (INIS)
Paschmann, Martin
2017-01-01
Analyzing price data from sequential German electricity markets, namely the day-ahead and intraday auction, a puzzling but apparently systematic pattern of price premiums can be identified. The price premiums are highly correlated with the underlying demand profile. As there is evidence that widespread models for electricity forward premiums are not applicable to the market dynamics under analysis, a theoretical model is developed within this article which reveals that non-convexities in only a subset of sequential markets with differing product granularity may cause systematic price premiums at equilibrium. These price premiums may be bidirectional and reflect a value for additional short-term power supply system flexibility.
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2010-01-01
... interest as defined in § 329.1(c). (a) Premiums, whether in the form of merchandise, credit, or cash, given... the balance in a demand deposit account and the duration of the account balance shall not be considered the payment of interest on a demand deposit account and shall not be subject to the limitations in...
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5 CFR 892.202 - Are retirees eligible for the premium conversion plan?
2010-01-01
... conversion plan? 892.202 Section 892.202 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.202 Are retirees eligible for the premium conversion plan? No...
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5 CFR 892.201 - Who is covered by the premium conversion plan?
2010-01-01
... plan? 892.201 Section 892.201 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.201 Who is covered by the premium conversion plan? (a) All...
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26 CFR 1.822-11 - Net premiums.
2010-04-01
... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...
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26 CFR 1.823-1 - Net premiums.
2010-04-01
... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...
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26 CFR 1.823-4 - Net premiums.
2010-04-01
... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...
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Business Cycle and Risk Premium in the Colombian Stock Market
Directory of Open Access Journals (Sweden)
Andrés Mauricio Gómez Sánchez
2013-11-01
Full Text Available Through the Hodrick-Prescott methodology this paper presents a review about the relationship between the ex post risk premium of the stock market and business cycles observed in Colombia. Through quarterly information from the fourth quarter of 2001 to the third quarter of 2012, statistical evidence shows that the increase and decrease of ex post risk premium follow a countercyclical behavior in tune with existing research conducted about the United States and emerging economies, although with non-contemporary relationships with private consumption. In addition, it is found that in the last decade the Colombian risk premium follows a process of Auto Regressive Moving Average Models (ARMA, showing that there is no variation in at least two consecutive quarters and whose behavior is generated in part by external events at the domestic economic activity level experienced in near past periods.
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Portfolio size as funktion of the premium: modeling and optimization
DEFF Research Database (Denmark)
Asmussen, Søren; Christensen, Bent Jesper; Taksar, Michael I
An insurance company has a large number N of potential customers characterized by i.i.d. r.v.'s A1,…,AN giving the arrival rates of claims. Customers are risk averse, and a customer accepts an offered premium p according to his A-value. The modeling further involves a discount rate d>r of customers......, where r is the risk-free interest rate. Based on calculations of the customers' present values of the alternative strategies of insuring and not insuring, the portfolio size n(p) is derived, and also the rate of claims from the insured customers is given. Further, the value of p which is optimal...... for minimizing the ruin probability is derived in a diffusion approximation to the Cramér-Lundberg risk process with an added liability rate L of the company. The solution involves the Lambert W function. Similar discussion is given for extensions involving customers having only partial information...
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5 CFR 550.1409 - Inapplicability of premium pay and aggregate pay caps.
2010-01-01
... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Inapplicability of premium pay and aggregate pay caps. 550.1409 Section 550.1409 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL... Inapplicability of premium pay and aggregate pay caps. Accrued compensatory time off under this subpart is not...
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Approximations for stop-loss reinsurance premiums
Reijnen, Rajko; Albers, Willem/Wim; Kallenberg, W.C.M.
2005-01-01
Various approximations of stop-loss reinsurance premiums are described in literature. For a wide variety of claim size distributions and retention levels, such approximations are compared in this paper to each other, as well as to a quantitative criterion. For the aggregate claims two models are
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Ellis, Randall P; Savage, Elizabeth
2008-12-01
Between 1997 and 2000 the Australian government introduced three policy reforms that aimed to increase private health insurance coverage and reduce public hospital demand. The first provided income-based tax incentives; the second gave an across-the-board 30% premium subsidy; and the third introduced selective age-based premium increases for those enrolling after a deadline. Together the reforms increased enrolment by 50% and reduced the average age of enrollees. The deadline appeared to induce consumers to enroll now rather than delay. We estimate a model of individual insurance decisions and examine the effects of the reforms on the age and income distribution of those with private cover. We interpret the major driver of the increased enrollment as a response to a deadline and an advertising blitz, rather than a pure price response.
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2010-01-01
... in connection with Insurance Premium Funding Programs. 221.122 Section 221.122 Banks and Banking...) Interpretations § 221.122 Applicability of margin requirements to credit in connection with Insurance Premium... with insurance premium funding programs. The inquiries are included in a set of guidelines in the...
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2012-04-10
... Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for Fiscal Year (FY) 2013 AGENCY...: In accordance with HUD regulations, this notice announces changes of the mortgage insurance premiums... mortgage. The mortgage insurance premiums to be in effect for FHA firm commitments issued or reissued in FY...
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29 CFR 825.212 - Employee failure to pay health plan premium payments.
2010-07-01
... Family and Medical Leave Act § 825.212 Employee failure to pay health plan premium payments. (a)(1) In... obligations to maintain health insurance coverage cease under FMLA if an employee's premium payment is more... an employee's insurance in accordance with this section and fails to restore the employee's health...
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Calculation of benefit reserves based on true m-thly benefit premiums
Riaman; Susanti, Dwi; Supriatna, Agus; Nurani Ruchjana, Budi
2017-10-01
Life insurance is a form of insurance that provides risk mitigation in life or death of a human. One of its advantages is measured life insurance. Insurance companies ought to give a sum of money as reserves to the customers. The benefit reserves are an alternative calculation which involves net and cost premiums. An insured may pay a series of benefit premiums to an insurer equivalent, at the date of policy issue, to the sum of to be paid on the death of the insured, or on survival of the insured to the maturity date. A balancing item is required and this item is a liability for one of the parties and the other is an asset. The balancing item, in loan, is the outstanding principle, an asset for the lender and the liability for the borrower. In this paper we examined the benefit reserves formulas corresponding to the formulas for true m-thly benefit premiums by the prospective method. This method specifies that, the reserves at the end of the first year are zero. Several principles can be used for the determined of benefit premiums, an equivalence relation is established in our discussion.
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Using the Black Scholes method for estimating high cost illness insurance premiums in Colombia
Directory of Open Access Journals (Sweden)
Liliana Chicaíza
2009-04-01
Full Text Available This article applied the Black-Scholes option valuation formula to calculating high-cost illness reinsurance premiums in the Colombian health system. The coverage pattern used in reinsuring high-cost illnesses was replicated by means of a European call option contract. The option’s relevant variables and parameters were adapted to an insurance market context. The premium estimated by the BlackScholes method fell within the range of premiums estimated by the actuarial method.
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5 CFR 892.206 - Can I cancel my waiver and participate in premium conversion?
2010-01-01
... (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.206 Can I cancel my waiver and participate in premium...
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25 CFR 103.19 - When must the lender pay BIA the loan guaranty or insurance premium?
2010-04-01
... insurance premium? 103.19 Section 103.19 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR FINANCIAL ACTIVITIES LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY How a Lender Obtains a Loan Guaranty or Insurance Coverage § 103.19 When must the lender pay BIA the loan guaranty or insurance premium? The premium...
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Abiiro, Gilbert Abotisem; McIntyre, Di
2013-05-01
Extending coverage to the informal sector is a key challenge to achieving universal coverage through contributory health insurance schemes. Ghana introduced a mandatory National Health Insurance system in 2004 to provide financial protection for both the formal and informal sectors through a combination of taxes and annual premium payments. As part of its election promise in 2008, the current government (then in opposition) promised to make the payment of premiums 'one-time'. This has been a very controversial policy issue in Ghana. This study sought to contribute to assessing the feasibility of the proposed policy by exploring the understandings of various stakeholders on the policy, their interests or concerns, potential positions, power and influences on it, as well as the general prospects and challenges for its implementation. Data were gathered from a review of relevant documents in the public domain, 28 key informant interviews and six focus group discussions with key stakeholders in Accra and two other districts. The results show that there is a lot of confusion in stakeholders' understanding of the policy issue, and, because of the uncertainties surrounding it, most powerful stakeholders are yet to take clear positions on it. However, stakeholders raised concerns that revolved around issues such as: the meaning of a one-time premium within an insurance scheme context, the affordability of the one-time premium, financing sources and sustainability of the policy, as well as the likely impact of the policy on equity in access to health care. Policy-makers need to clearly explain the meaning of the one-time premium policy and how it will be funded, and critically consider the concerns raised by stakeholders before proceeding with further attempts to implement it. For other countries planning universal coverage reforms, it is important that the terminology of their reforms clearly reflects policy objectives.
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Estimating organic, local, and other price premiums in the Hawaii fluid milk market.
Loke, Matthew K; Xu, Xun; Leung, PingSun
2015-04-01
With retail scanner data, we applied hedonic price modeling to explore price premiums for organic, local, and other product attributes of fluid milk in Hawaii. Within the context of revealed preference, this analysis of organic and local attributes, under a single unified framework, is significant, as research in this area is deficient in the existing literature. This paper finds both organic and local attributes delivered price premiums over imported, conventional, whole fluid milk. However, the estimated price premium for organic milk (24.6%) is significantly lower than findings in the existing literature. Likewise, the price premium for the local attribute is estimated at 17.4%, again substantially lower compared with an earlier, stated preference study in Hawaii. Beyond that, we estimated a robust price premium of 19.7% for nutritional benefits claimed. The magnitude of this estimated coefficient reinforces the notion that nutrition information on food is deemed beneficial and valuable. Finally, package size measures the influence of product weight. With each larger package size, the estimate led to a corresponding larger price discount. This result is consistent with the practice of weight discounting that retailers usually offer with fresh packaged food. Additionally, we estimated a fairly high Armington elasticity of substitution, which suggests a relatively high degree of substitution between local and imported fluid milk when their relative price changes. Overall, this study establishes price premiums for organic, local, and nutrition benefits claimed for fluid milk in Hawaii. Copyright © 2015 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.
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Demand of Insurance under the Cost-of-Capital Premium Calculation Principle
Directory of Open Access Journals (Sweden)
Michael Merz
2014-06-01
Full Text Available We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The main novelty in this paper is that we study this optimization problem under a risk-adjusted premium calculation principle for the insurance cover. This risk-adjusted premium calculation principle uses the cost-of-capital approach as it is suggested (and used by the regulator and the insurance industry.
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24 CFR 213.259a - Premiums-mortgages insured pursuant to section 238(c) of the Act.
2010-04-01
.... All of the provisions of §§ 213.253 through 213.259 governing mortgage insurance premiums shall apply... mortgage insurance premiums due on such mortgages in accordance with §§ 213.253 through 213.259 shall be... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...
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24 CFR 207.252c - Premiums-mortgages insured pursuant to section 238(c) of the Act.
2010-04-01
.... All of the provisions of §§ 207.252 and 207.252a governing mortgage insurance premiums shall apply to... insurance premiums due on such mortgages in accordance with §§ 207.252 and 207.252a shall be calculated on... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...
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Did the Affordable Care Act's Dependent Coverage Mandate Increase Premiums?
Briggs Depew; James Bailey
2014-01-01
We investigate the impact of the Affordable Care Act's dependent coverage mandate on insurance premiums. The expansion of dependent coverage under the ACA allows young adults to remain on their parent's private health insurance plans until the age of 26. We find that the mandate has led to a 2.5-2.8 percent increase in premiums for health insurance plans that cover children, relative to single-coverage plans. We find no evidence that the mandate caused an increase in the amount of the employe...
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Are Integrated Plan Providers Associated With Lower Premiums on the Health Insurance Marketplaces?
La Forgia, Ambar; Maeda, Jared Lane K; Banthin, Jessica S
2018-04-01
As the health insurance industry becomes more consolidated, hospitals and health systems have started to enter the insurance business. Insurers are also rapidly acquiring providers. Although these "vertically" integrated plan providers are small players in the insurance market, they are becoming more numerous. The health insurance marketplaces (HIMs) offer a unique setting to study integrated plan providers relative to other insurer types because the HIMs were designed to promote competition. In this descriptive study, the authors compared the premiums of the lowest priced silver plans of integrated plan providers with other insurer types on the 2015 and 2016 HIMs. Integrated plan providers were associated with modestly lower premiums relative to most other insurer types. This study provides early insights into premium competition on the HIMs. Examining integrated plan providers as a separate insurer type has important policy implications because they are a growing segment of the marketplaces and their pricing behavior may influence future premium trends.
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Voluntary Public Unemployment Insurance
DEFF Research Database (Denmark)
O. Parsons, Donald; Tranæs, Torben; Bie Lilleør, Helene
Denmark has drawn much attention for its active labor market policies, but is almost unique in offering a voluntary public unemployment insurance program requiring a significant premium payment. A safety net program – a less generous, means-tested social assistance plan – completes the system...
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Schoen, Cathy; Stremikis, Kristof; How, Sabrina K H; Collins, Sara R
2010-12-01
Rapidly rising health insurance costs have strained U.S. families and employers in recent years. This issue brief examines data for all states on changes in private employer premiums and deductibles for 2003 and 2009. The analysis finds that premiums for businesses and their employees increased 41 percent across states from 2003 to 2009, while per-person deductibles jumped 77 percent in large as well as small firms. If these trends continue at the rate prior to enactment of the Affordable Care Act, the average premium for family coverage will rise 79 percent by 2020, to more than $23,000. The authors describe how health reform offers the potential to reduce insurance cost growth while improving value and protection. If reforms succeed in slowing premium growth by 1 percentage point annually in all states, by 2020 employers and families together will save $2,323 annually for family coverage, compared with projected trends.
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Brief report: Quantifying the impact of autism coverage on private insurance premiums.
Bouder, James N; Spielman, Stuart; Mandell, David S
2009-06-01
Many states are considering legislation requiring private insurance companies to pay for autism-related services. Arguments against mandates include that they will result in higher premiums. Using Pennsylvania legislation as an example, which proposed covering services up to $36,000 per year for individuals less than 21 years of age, this paper estimates potential premium increases. The estimate relies on autism treated prevalence, the number of individuals insured by affected plans, mean annual autism expenditures, administrative costs, medical loss ratio, and total insurer revenue. Current treated prevalence and expenditures suggests that premium increases would approximate 1%, with a lower bound of 0.19% and an upper bound of 2.31%. Policy makers can use these results to assess the cost-effectiveness of similar legislation.
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The Pricing of Tail Risk and the Equity Premium: Evidence from International Option Markets
DEFF Research Database (Denmark)
Andersen, Torben Gustav; Fusari, Nicola; Todorov, Viktor
We explore the pricing of tail risk as manifest in index options across international equity markets. The risk premium associated with negative tail events displays persistent shifts, unrelated to volatility. This tail risk premium is a potent predictor of future equity returns, while option......-implied volatility only forecasts the future return variation. Hence, compensation for negative jump risk is the primary driver of the equity premium across all indices, whereas the reward for pure diffusive variance risk is largely unrelated to future equity returns. We also document pronounced commonalities...
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Covered Interest-Rate Parity Revisited: an Extreme Value Copula Analysis
Directory of Open Access Journals (Sweden)
Mikel Ugando-Peñate
2015-11-01
Full Text Available This article studied the covered interest-rate parity (CIP condition under extreme market movements using extreme value theory and extreme value copulas to characterize dependence between extreme interest rate differentials and forward premium. The empirical analysis for the CIP between interest rates for the US dollar and the British pound indicates that there is strong co-movement between interest rate differentials and forward premium at different maturities and in both upper and lower tails. This conclusion would support the existence of the CIP condition under extreme market movements.
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Directory of Open Access Journals (Sweden)
Jovković Biljana
2012-12-01
Full Text Available The aim of this paper is to present the procedure of audit sampling using the variable sampling methods for conducting the tests of income from insurance premiums in insurance company 'Takovo'. Since the incomes from the insurance premiums from vehicle insurance and third-party vehicle insurance have the dominant share of the insurance company's income, the application of this method will be shown in the audit examination of these incomes - incomes from VI and TPVI premiums. For investigating the applicability of these methods in testing the income of other insurance companies, we shall implement the method of variable sampling in the audit testing of the premium income from the three leading insurance companies in Serbia, 'Dunav', 'DDOR' and 'Delta Generali' Insurance.
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Can the NICE "end-of-life premium" be given a coherent ethical justification?
Cookson, Richard
2013-12-01
In 2009 the UK National Institute for Health and Clinical Excellence (NICE) announced that its health technology appraisal committees would henceforth give special additional weight to health gains from life-extending end-of-life treatments. This was a response to mounting concern from NICE's stakeholders that effective new drugs for end-stage cancer often fail NICE's standard test of cost effectiveness. This change of policy may be justifiable on procedural grounds as the result of a democratic political process responding to stakeholder concerns. However, according to the "accountability for reasonableness" framework proposed by the philosopher Norman Daniels and endorsed by NICE, there also needs to be transparency about the substantive ethical grounds for public health care resource allocation decisions. In that spirit, I analyze eleven potentially relevant justifications for the NICE "end-of-life premium," drawn from the economics and philosophy literature: (1) rule of rescue, (2) fair chances, (3) ex post willingness to pay, (4) caring externality, (5) financial protection, (6) symbolic value, (7) diminishing marginal value of future life years, (8) concentration of benefits, (9) dread, (10) time to set your affairs in order, and (11) severity of illness. I conclude that none of them yields a coherent ethical justification for the NICE end-of-life premium.
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Failure to pay for social health insurance premiums: Acts of protest or desperation?
von Wyl, Viktor; Beck, Konstantin
2015-01-01
In Switzerland, basic health insurance is mandatory for all inhabitants, but a rising number of insured have arrears in premium payments, potentially leading to coverage suspension. We aimed at characterizing insured with debt enforcement proceedings with respect to socio-demographic and health utilization aspects. Cross-sectional analysis of 508.000 insured with basic health insurance contracts in 2013, of whom 14,000 (2.8%) with debt enforcement proceedings, from 11 Swiss cantons. Groups were characterized using logistic regression and latent class analysis. Insured with debt enforcement proceedings were more likely to be young, male and without dependents (partner, kids). Having no supplementary insurance and receiving partial premium subsidies was associated with an increased debt enforcement proceedings risk. Within the debt enforcement proceedings group, three subgroups were identified: 60% were young and seemingly healthy, with a below-average fraction of premium subsidy recipients (18%) and low out-of-pocket payments in prior year (median Swiss Francs 0). Two groups consisted of relatively ill elderly persons (22%, 99% of whom with chronic illnesses) or families (18%), many of whom (29% and 51%) were recipients of premium subsidies. Median out-of-pocket payments in the prior year were high (Swiss Francs 625 and 688, respectively). Sixty percent of premium arrears derive from young insured without apparent financial problems; 40% are owed by elderly and families, which are potentially hurt by coverage loss.
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Impacts of Credit Default Swaps on Volatility of the Exchange Rate in Turkey: The Case of Euro
Directory of Open Access Journals (Sweden)
Muhsin Kar
2016-07-01
Full Text Available In this study, we aim to investigate the impacts of credit default swaps (CDS premium as a risk financial indicator on the fluctuations of value of the Turkish lira against the Euro. We try to answer the following questions: Is the CDS premium change among the drivers of EUR/TL exchange rate and what are the possible effects of CDS premium volatility on EUR/TL exchange rate stability in different conditions? In this regard, we developed a MS-VAR regime change model and asymmetric, frequency domain and rolling windows causality analysis methods. Results obtained from all tests imply that risk premium is partially a driver of the EUR/TL exchange rate between the years 2009 and 2015.
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The Effects of Premium Changes on ALL Kids
U.S. Department of Health & Human Services — The Effects of Premium Changes on ALL Kids, Alabamas CHIP Program Unlike many other CHIP programs, ALL Kids is a standalone program that provides year long...
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Consumer Willingness to Pay a Premium for Halal Goat Meat: A Case from Atlanta, Georgia
Ibrahim, Mohammed
2011-01-01
The growth in goat meat demand is attributed to the influx of immigrants from goat-meat-eating countries into the U.S. This Paper examines the willingness to pay a premium for halal goat meat. The factors that significantly impact the willingness to pay a premium for halal goat meat in Atlanta include income, current consumption, household size, and marital status. Results suggest that the mean willingness to pay a premium for the halal attribute is 50 cents per pound of goat meat.
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26 CFR 1.249-1 - Limitation on deduction of bond premium on repurchase.
2010-04-01
... A issues a callable 20-year convertible bond at face for $1,000 bearing interest at 10 percent per... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Limitation on deduction of bond premium on... deduction of bond premium on repurchase. (a) Limitation—(1) General rule. No deduction is allowed to the...
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Modeling foreign exchange risk premium in Armenia
Czech Academy of Sciences Publication Activity Database
Poghosyan, Tigran; Kočenda, Evžen; Zemčík, P.
2008-01-01
Roč. 44, č. 1 (2008), s. 41-61 ISSN 1540-496X R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : foreign exchange risk premium * Armenia * affine term structure models Subject RIV: AH - Economics Impact factor: 0.611, year: 2008
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Relative Affordability of Health Insurance Premiums under CHIP Expansion Programs and the ACA.
Gresenz, Carole Roan; Laugesen, Miriam J; Yesus, Ambeshie; Escarce, José J
2011-10-01
Affordability is integral to the success of health care reforms aimed at ensuring universal access to health insurance coverage, and affordability determinations have major policy and practical consequences. This article describes factors that influenced the determination of affordability benchmarks and premium-contribution requirements for Children's Health Insurance Program (CHIP) expansions in three states that sought to universalize access to coverage for youth. It also compares subsidy levels developed in these states to the premium subsidy schedule under the Affordable Care Act (ACA) for health insurance plans purchased through an exchange. We find sizeable variability in premium-contribution requirements for children's coverage as a percentage of family income across the three states and in the progressivity and regressivity of the premium-contribution schedules developed. These findings underscore the ambiguity and subjectivity of affordability standards. Further, our analyses suggest that while the ACA increases the affordability of family coverage for families with incomes below 400 percent of the federal poverty level, the evolution of CHIP over the next five to ten years will continue to have significant implications for low-income families.
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Directory of Open Access Journals (Sweden)
Laurence Booth
2015-04-01
Full Text Available Discount rates are essential to applied finance, especially in setting prices for regulated utilities and valuing the liabilities of insurance companies and defined benefit pension plans. This paper reviews the basic building blocks for estimating discount rates. It also examines market risk premiums, as well as what constitutes a benchmark fair or required rate of return, in the aftermath of the financial crisis and the U.S. Federal Reserve’s bond-buying program. Some of the results are disconcerting. In Canada, utilities and pension regulators responded to the crash in different ways. Utilities regulators haven’t passed on the full impact of low interest rates, so that consumers face higher prices than they should whereas pension regulators have done the opposite, and forced some contributors to pay more. In both cases this is opposite to the desired effect of monetary policy which is to stimulate aggregate demand. A comprehensive survey of global finance professionals carried out last year provides some clues as to where adjustments are needed. In the U.S., the average equity market required return was estimated at 8.0 per cent; Canada’s is 7.40 per cent, due to the lower market risk premium and the lower risk-free rate. This paper adds a wealth of historic and survey data to conclude that the ideal base long-term interest rate used in risk premium models should be 4.0 per cent, producing an overall expected market return of 9-10.0 per cent. The same data indicate that allowed returns to utilities are currently too high, while the use of current bond yields in solvency valuations of pension plans and life insurers is unhelpful unless there is a realistic expectation that the plans will soon be terminated.
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Sipahi, H; Durusoy, R; Ergin, I; Hassoy, H; Davas, A; Karababa, Ao
2012-01-01
Thesis is an important part of specialisation and doctorate education and requires intense work. The aim of this study was to investigate the publication rates of Turkish Public Health Doctorate Theses (PHDT) and Public Health Specialization (PHST) theses in international and Turkish national peer-review journals and to analyze the distribution of research areas. List of all theses upto 30 September 2009 were retrieved from theses database of the Council of Higher Education of the Republic of Turkey. The publication rates of these theses were found by searching PubMed, Science Citation Index-Expanded, Turkish Academic Network and Information Center (ULAKBIM) Turkish Medical Database, and Turkish Medline databases for the names of thesis author and mentor. The theses which were published in journals indexed either in PubMed or SCI-E were considered as international publications. Our search yielded a total of 538 theses (243 PHDT, 295 PHST). It was found that the overall publication rate in Turkish national journals was 18%. The overall publication rate in international journals was 11.9%. Overall the most common research area was occupational health. Publication rates of Turkish PHDT and PHST are low. A better understanding of factors affecting this publication rate is important for public health issues where national data is vital for better intervention programs and develop better public health policies.
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Workplace Variation in Fatherhood Wage Premiums: Do Formalization and Performance Pay Matter?
Fuller, Sylvia; Cooke, Lynn
2018-01-01
Parenthood contributes substantially to broader gender wage inequality. The intensification of gendered divisions of paid and unpaid work after the birth of a child create unequal constraints and expectations such that, all else equal, mothers earn less than childless women, but fathers earn a wage premium. The fatherhood wage premium, however, varies substantially among men. Analyses of linked workplace-employee data from Canada reveal how organizational context conditions educational, occup...
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Health benefits in 2013: moderate premium increases in employer-sponsored plans.
Claxton, Gary; Rae, Matthew; Panchal, Nirmita; Damico, Anthony; Whitmore, Heidi; Bostick, Nathan; Kenward, Kevin
2013-09-01
Employer-sponsored health insurance premiums rose moderately in 2013, the annual Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) Employer Health Benefits Survey found. In 2013 single coverage premiums rose 5 percent to $5,884, and family coverage premiums rose 4 percent to $16,351. The percentage of firms offering health benefits (57 percent) was similar to that in 2012, as was the percentage of workers at offering firms who were covered by their firm's health benefits (62 percent). The share of workers with a deductible for single coverage increased significantly from 2012, as did the share of workers in small firms with annual deductibles of $1,000 or more. Most firms (77 percent), including nearly all large employers, continued to offer wellness programs, but relatively few used incentives to encourage employees to participate. More than half of large employers offering health risk appraisals to workers offered financial incentives for completing the appraisal.
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The individual insurance market before reform: low premiums and low benefits.
Whitmore, Heidi; Gabel, Jon R; Pickreign, Jeremy; McDevitt, Roland
2011-10-01
Based on analyses of individual market health plans sold through ehealthinsurance and enrollment information collected from individual market carriers, this article profiles the individual health insurance market in 2007, before health reform. The article examines premiums, plan enrollment, cost sharing, and covered benefits and compares individual and group markets. Premiums for the young are lower than in the group market but higher for older people. Cost sharing is substantial in the individual insurance market. Seventy-eight percent of people were enrolled in plans with deductibles for single coverage, which averaged $2,117. Annual out-of-pocket maximums averaged $5,271. Many plans do not cover important benefits. Twelve percent of individually insured persons had no coverage for office visits and only 43% have maternity benefits in their basic coverage. With the advent of health exchanges and new market rules in 2014, covered benefits may become richer, cost sharing will decline, but premiums for the young will rise.
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Modeling foreign exchange risk premium in Armenia
Czech Academy of Sciences Publication Activity Database
Poghosyan, T.; Kočenda, E.; Zemčík, Petr
2008-01-01
Roč. 44, č. 1 (2008), s. 41-61 ISSN 1540-496X R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : foreign exchange risk premium * Armenia * affine term structure models Subject RIV: AH - Economics Impact factor: 0.611, year: 2008
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AN EMPIRICAL ANALYSIS OF VARIETY PRICE PREMIUM ...
African Journals Online (AJOL)
Location price difference was inversely related to distance from the central commodity market, and the seasonal price difference was attributed to storage technique. These show imperfect competitive market behaviour. Peu/drum with characteristics of brown colour, rough skin and large grain size had a price premium than ...
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Determinants of Medicare plan choices: are beneficiaries more influenced by premiums or benefits?
Jacobs, Paul D; Buntin, Melinda B
2015-07-01
To evaluate the sensitivity of Medicare beneficiaries to premiums and benefits when selecting healthcare plans after the introduction of Part D. We matched respondents in the 2008 Medicare Current Beneficiary Survey to the Medicare Advantage (MA) plans available to them using the Bid Pricing Tool and previously unavailable data on beneficiaries' plan choices. We estimated a 2-stage nested logit model of Medicare plan choice decision making, including the decision to choose traditional fee-for-service (FFS) Medicare or an MA plan, and for those choosing MA, which specific plan they chose. Beneficiaries living in areas with higher average monthly rebates available from MA plans were more likely to choose MA rather than FFS. When choosing MA plans, beneficiaries are roughly 2 to 3 times more responsive to dollars spent to reduce cost sharing than reductions in their premium. We calculated an elasticity of plan choice with respect to the monthly MA premium of -0.20. Beneficiaries with lower incomes are more sensitive to plan premiums and cost sharing than higher-income beneficiaries. MA plans appear to have a limited incentive to aggressively price their products, and seem to compete primarily over reduced beneficiary cost sharing. Given the limitations of the current plan choice environment, policies designed to encourage the selection of lower-cost plans may require increasing premium differences between plans and providing the tools to enable beneficiaries to easily assess those differences.
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Effect of Frozen Storage Temperature on the Quality of Premium Ice Cream.
Park, Sung Hee; Jo, Yeon-Ji; Chun, Ji-Yeon; Hong, Geun-Pyo; Davaatseren, Munkhtugs; Choi, Mi-Jung
2015-01-01
The market sales of premium ice cream have paralleled the growth in consumer desire for rich flavor and taste. Storage temperature is a major consideration in preserving the quality attributes of premium ice cream products for both the manufacturer and retailers during prolonged storage. We investigated the effect of storage temperature (-18℃, -30℃, -50℃, and -70℃) and storage times, up to 52 wk, on the quality attributes of premium ice cream. Quality attributes tested included ice crystal size, air cell size, melting resistance, and color. Ice crystal size increased from 40.3 μm to 100.1 μm after 52 wk of storage at -18℃. When ice cream samples were stored at -50℃ or -70℃, ice crystal size slightly increased from 40.3 μm to 57-58 μm. Initial air cell size increased from 37.1 μm to 87.7 μm after storage at -18℃ for 52 wk. However, for storage temperatures of -50℃ and -70℃, air cell size increased only slightly from 37.1 μm to 46-47 μm. Low storage temperature (-50℃ and -70℃) resulted in better melt resistance and minimized color changes in comparison to high temperature storage (-18℃ and -30℃). In our study, quality changes in premium ice cream were gradually minimized according to decrease in storage temperature up to-50℃. No significant beneficial effect of -70℃ storage was found in quality attributes. In the scope of our experiment, we recommend a storage temperature of -50℃ to preserve the quality attributes of premium ice cream.
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Gender, Productivity, and the Marital Wage Premium
Lincoln, Anne E.
2008-01-01
Explanations for married men's wage premium often emphasize greater market productivity due to a gendered division of household labor, though this "specialization thesis" has been insufficiently interrogated. Using data from Wave 2 of the National Survey of Families and Households (N = 972), this paper examines the relationship between wages and…
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2013-09-26
... Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY) 2014 AGENCY: Office of the... with HUD regulations, this Notice announces the mortgage insurance premiums (MIPs) for Federal Housing Administration (FHA) Multifamily, Healthcare Facilities, and Hospital mortgage insurance programs that have...
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Raza, Syed Ali; Zaighum, Isma; Shah, Nida
2018-02-01
This paper examines the relationship between economic policy uncertainty and equity premium in G7 countries over a period of the monthly data from January 1989 to December 2015 using a novel technique namely QQ regression proposed by Sim and Zhou (2015). Based on QQ approach, we estimate how the quantiles of the economic policy uncertainty affect the quantiles of the equity premium. Thus, it provides a comprehensive insight into the overall dependence structure between the equity premium and economic policy uncertainty as compared to traditional techniques like OLS or quantile regression. Overall, our empirical evidence suggests the existence of a negative association between equity premium and EPU predominately in all G7 countries, especially in the extreme low and extreme high tails. However, differences exist among countries and across different quantiles of EPU and the equity premium within each country. The existence of this heterogeneity among countries is due to the differences in terms of dependency on economic policy, other stock markets, and the linkages with other country's equity market.
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78 FR 73821 - Publication of Depreciation Rates
2013-12-09
... DEPARTMENT OF AGRICULTURE Rural Utilities Service Publication of Depreciation Rates AGENCY: Rural Utilities Service. ACTION: Notice of Depreciation Rates for Telecommunications Plant. SUMMARY: The United... programs, including the Telecommunications Program. RUS announces the depreciation rates for...
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75 FR 24470 - Health Care Reform Insurance Web Portal Requirements
2010-05-05
... benefit and pricing information. Benefit and pricing information includes data such as premiums, cost... percentage of total premium revenue expended on nonclinical costs (as reported under section 2718(a) of the Public Health Service Act), eligibility, availability, premium rates, and cost sharing with respect to...
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2013-06-26
... premium rates for ARPI that are sufficient to cover expected losses plus a reasonable reserve. The premium... that maximize net benefits (including potential economic, environmental, public health and safety... establish their insurance guarantees, and compute premium amounts. Whether a producer has 10 acres or 1000...
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Directory of Open Access Journals (Sweden)
Lilian de Castro Medeiros
2015-01-01
Full Text Available Asset pricing is a widely explored theme in the financial literature. Nevertheless, the phenomenon of value premium is still controversial, since although easily detected in developed and emerging markets, little is know about the economic forces that explain its existence. In this context, this article examines value premium in the Brazilian market and investigates the influence of the country risk variable as an additional risk factor for estimating conditional returns in this market not captured by value premium. For that, we employ a five-factor model, formulated by adding the country risk factor to the model of Carhart (1997. We apply the statistical procedure adopted by Fama & French (1993 to the period between 1994 and 2012, with data on nonfinancial companies listed on the BM&FBovespa. The results confirm the existence of value premium in the Brazilian market, and country risk and value premium together are significant factors to explain conditional returns.
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2010-04-01
... mortgage insurance premiums for H4H program mortgages. 257.203 Section 257.203 Housing and Urban... mortgage insurance premiums for H4H program mortgages. (a) Applicable premiums. Any mortgage presented for... LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES HOPE FOR HOMEOWNERS PROGRAM...
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Energy Technology Data Exchange (ETDEWEB)
Santos, Afonso Henriques Moreira; Garcia, Marco Aurelio R.A.; Cruz, Ricardo A. Passos da
2008-07-01
The aim of this paper is to propose a method for valuation of assets of small hydroelectric plants in different stages of maturation. To this end, we adopted the principle of risk premium, associated with a portion of the profitability of the project (internal rate of return-IRR) in every stage of development. In other words: the more mature the project, the lower your risk and consequently lower the corresponding premium, adopting as a total prize the IRR expected to the project.
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2010-04-01
... mortgage insurance premiums for Program mortgages. 4001.203 Section 4001.203 Housing and Urban Development... HOMEOWNERS PROGRAM HOPE FOR HOMEOWNERS PROGRAM Rights and Obligations Under the Contract of Insurance § 4001.203 Calculation of upfront and annual mortgage insurance premiums for Program mortgages. (a...
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38 CFR 8.5 - Authorization for deduction of premiums from compensation, retirement pay, or pension.
2010-07-01
... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Authorization for deduction of premiums from compensation, retirement pay, or pension. 8.5 Section 8.5 Pensions, Bonuses, and... Authorization for deduction of premiums from compensation, retirement pay, or pension. Deductions from benefits...
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The equity risk premium: A review of models
Duarte, Fernando; Rosa, Carlo
2015-01-01
We estimate the equity risk premium (ERP) by combining information from twenty models. The ERP in 2012 and 2013 reached heightened levels - of around 12 percent - not seen since the 1970s. We conclude that the high ERP was caused by unusually low Treasury yields.
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76 FR 6762 - Publication of Depreciation Rates
2011-02-08
... DEPARTMENT OF AGRICULTURE Rural Utilities Service Publication of Depreciation Rates AGENCY: Rural... States Department of Agriculture (USDA), announces the depreciation rates for telecommunications plant...) explains the depreciation rates that are used by RUS in its feasibility studies. Sec. 1737.70(e)(2) refers...
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Risk premium in the UK natural gas forward market
International Nuclear Information System (INIS)
Hobaek Haff, Ingrid; Lindqvist, Ola; Loeland, Anders
2008-01-01
This report investigates the UK natural gas market, and tests whether it is a fair-game efficient forward market, using forward contracts ranging from one to five months time to delivery. The forward and spot price series are separately non-stationary, but cointegrated. Furthermore, the forward prices are biased predictors of both the future spot and the 1-month-ahead forward price. The risk premium on the forward prices is positive, as opposed to the US gas market, where the risk premium was found to be negative in similar work. Moreover, the analysis reveals that the storage model is an incomplete model for the relationship between the spot and forward prices. However, storage has a clear effect on this relationship, an effect that appears to be non-linear. (author)
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Jannot, Anne-Sophie; Perneger, Thomas V
2014-02-04
Little is known about doctors' opinions on how to finance health services. In Switzerland, mandatory basic health insurance currently uses regional flat fees that are unrelated to health and ability to pay, and optional complementary insurance uses risk-based premiums. Our objective was to assess Swiss physicians' opinions on what should determine health insurance premiums. We surveyed doctors in the canton of Geneva, Switzerland, about the desirable funding mechanism for mandatory health insurance and complementary health insurance. The proposed determinants of insurance premiums were current health and past medical history, lifestyle, healthcare costs in the previous year, genetic susceptibility to disease, regional average healthcare costs, household income, and wealth and demographic characteristics. Among the 1,516 respondents, only a few (insurance premium should depend on health risk (health status, previous costs, genetics, and age and sex). More than 30% of respondents supported premiums based on lifestyle (34.6%), regional average health expenditures (31.2%), and household income and wealth (39.6%). For complementary health insurance, most respondents supported premiums based on lifestyle (74.6%) and on health risk (46.4%), but surprisingly also on household income and wealth (44.9%) and regional average health expenditures (39.4%). The characteristic most influencing the answers was the medical specialty. Doctors' opinions about healthcare financing mechanisms varied considerably, for both mandatory and complementary health insurance. Lifestyle was a surprisingly frequent choice, even though this criterion is not currently used in Switzerland. Ability to pay was not supported by the majority.
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Model estimation of claim risk and premium for motor vehicle insurance by using Bayesian method
Sukono; Riaman; Lesmana, E.; Wulandari, R.; Napitupulu, H.; Supian, S.
2018-01-01
Risk models need to be estimated by the insurance company in order to predict the magnitude of the claim and determine the premiums charged to the insured. This is intended to prevent losses in the future. In this paper, we discuss the estimation of risk model claims and motor vehicle insurance premiums using Bayesian methods approach. It is assumed that the frequency of claims follow a Poisson distribution, while a number of claims assumed to follow a Gamma distribution. The estimation of parameters of the distribution of the frequency and amount of claims are made by using Bayesian methods. Furthermore, the estimator distribution of frequency and amount of claims are used to estimate the aggregate risk models as well as the value of the mean and variance. The mean and variance estimator that aggregate risk, was used to predict the premium eligible to be charged to the insured. Based on the analysis results, it is shown that the frequency of claims follow a Poisson distribution with parameter values λ is 5.827. While a number of claims follow the Gamma distribution with parameter values p is 7.922 and θ is 1.414. Therefore, the obtained values of the mean and variance of the aggregate claims respectively are IDR 32,667,489.88 and IDR 38,453,900,000,000.00. In this paper the prediction of the pure premium eligible charged to the insured is obtained, which amounting to IDR 2,722,290.82. The prediction of the claims and premiums aggregate can be used as a reference for the insurance company’s decision-making in management of reserves and premiums of motor vehicle insurance.
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77 FR 65664 - Publication of Depreciation Rates
2012-10-30
... DEPARTMENT OF AGRICULTURE Rural Utilities Service Publication of Depreciation Rates AGENCY: Rural... announces the depreciation rates for telecommunications plant for the period ending December 31, 2011. DATES... Loans, Sec. 1737.70(e) explains the depreciation rates that are used by RUS in its feasibility studies...
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76 FR 72672 - Publication of Depreciation Rates
2011-11-25
... DEPARTMENT OF AGRICULTURE Rural Utilities Service Publication of Depreciation Rates AGENCY: Rural... announces the depreciation rates for telecommunications plant for the period ending December 31, 2010. DATES..., Sec. 1737.70(e) explains the depreciation rates that are used by RUS in its feasibility studies. Sec...
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Abdus, Salam; Hudson, Julie; Hill, Steven C; Selden, Thomas M
2014-08-01
Both Medicaid and the Children's Health Insurance Program (CHIP), which are run by the states and funded by federal and state dollars, offer health insurance coverage for low-income children. Thirty-three states charged premiums for children at some income ranges in CHIP or Medicaid in 2013. Using data from the 1999-2010 Medical Expenditure Panel Surveys, we show that the relationship between premiums and coverage varies considerably by income level and by parental access to employer-sponsored insurance. Among children with family incomes above 150 percent of the federal poverty level, a $10 increase in monthly premiums is associated with a 1.6-percentage-point reduction in Medicaid or CHIP coverage. In this income range, the increase in uninsurance may be higher among those children whose parents lack an offer of employer-sponsored insurance than among those whose parents have such an offer. Among children with family incomes of 101-150 percent of poverty, a $10 increase in monthly premiums is associated with a 6.7-percentage-point reduction in Medicaid or CHIP coverage and a 3.3-percentage-point increase in uninsurance. In this income range, the increase in uninsurance is even larger among children whose parents lack offers of employer coverage. Project HOPE—The People-to-People Health Foundation, Inc.
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Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J
2015-01-01
Introduction Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. Methods In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004–2009) using Cox proportional hazard modelling. Results The sample was 13.28% African-American; the average income was $52 334 (SD=31 445). The average price premium and market share of smokers’ dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. PMID:26534732
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Skaczkowski, Gemma; Durkin, Sarah; Kashima, Yoshihisa; Wakefield, Melanie
2018-03-12
Few studies have experimentally assessed the contribution of branding to the experience of smoking a cigarette, compared with the inherent properties of the product. This study examined the influence of cigarette brand name on the sensory experience of smoking a cigarette. Seventy-five Australian smokers aged 18-39 years smoked two 'premium' cigarettes, one with the brand variant name shown and one with the brand variant name masked (which provided 'objective' ratings). Unknown to participants, the two cigarettes were identical. At recruitment, participants rated their expected enjoyment, quality and harshness of several premium cigarette brands. Branded cigarettes were rated as having a significantly more favorable taste (M(SE) = 64.14(2.21)) than masked cigarettes (M(SE) = 58.53(2.26), p = .031). Branded cigarettes were also rated as being less stale (M(SE) = 36.04(2.62)) than masked cigarettes (M(SE) = 43.90(2.60), p = .011). Purchase intent tended to be higher among those shown the branded cigarette compared to the masked cigarette (χ 2 (1) = 3.00, p = .083). Expected enjoyment and quality of the brand variant (enjoyment: b = 0.31, 95%CI = 0.11, 0.51, p .05). This pattern was not observed for cigarette harshness. A premium brand variant name can enhance the subjective experience of a cigarette. Further, smokers' expectations of such brand variants contribute to the smoking experience as much, if not more than, the actual qualities of the product.
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2010-11-09
... Retirement Act and certain others do not have to pay premiums for Medicare Part A.) Section 1818A of the Act... specifies that the premium that these individuals will pay for CY 2011 will be equal to the premium for... consequential effect on State, local, or tribal governments or on the private sector. However, States are...
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The VIX, the Variance Premium, and Expected Returns
DEFF Research Database (Denmark)
Osterrieder, Daniela Maria; Ventosa-Santaulària, Daniel; Vera-Valdés, Eduardo
2018-01-01
. These problems are eliminated if risk is captured by the variance premium (VP) instead; it is unobservable, however. We propose a 2SLS estimator that produces consistent estimates without observing the VP. Using this method, we find a positive risk–return trade-off and long-run return predictability. Our...
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Lersch, Philipp M
2017-06-01
This study examines the association between marriage and economic wealth of women and men. Going beyond previous research that focused on household wealth, I examine personal wealth, which allows identifying gender disparities in the association between marriage and wealth. Using unique data from the German Socio-Economic Panel Study (2002, 2007, and 2012), I apply random-effects and fixed-effects regression models to test my expectations. I find that both women and men experience substantial marriage wealth premiums not only in household wealth but also in personal wealth. However, I do not find consistent evidence for gender disparities in these general marriage premiums. Additional analyses indicate, however, that women's marriage premiums are substantially lower than men's premiums in older cohorts and when only nonhousing wealth is considered. Overall, this study provides new evidence that women and men gain unequally in their wealth attainment through marriage.
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Annear, Peter Leslie; Bigdeli, Maryam; Jacobs, Bart
2011-10-01
To assess the impact on equity and effectiveness of introducing targeted subsidies for the poor into existing voluntary health insurance schemes in Low Income Countries with special reference to cross-subsidisation. A functional model was constructed using routine collected financial data to analyse changes in financial flows and resulting shifts in cross-subsidization between poor and non-poor. Data were collected from two sites, in Cambodia at Kampot operational health district and in the Lao People's Democratic Republic at Nambak district. Six key variables were identified as determining the financial flows between the subsidy and the insurance schemes and with health providers: population coverage, premium rate, facility contact rate, capitation rate, cost of treatment and changes in administration costs. Negative cross-subsidization was revealed where capitation was used as the payment mechanism and where utilisation rates of the poor were significantly below the non-poor. The same level of access for the poor could have been achieved with a lower Health Equity Fund subsidy if used as a direct reimbursement of user charges by the Health Equity Fund to the provider rather than through the Community Based Health Insurance scheme. Purchasing premiums for the poor under these conditions is more costly than direct reimbursement to the provider for the same level of service delivery. Negative cross-subsidization is a serious risk that must be managed appropriately and the benefits of a larger risk pool (cross-subsidization of the poor) are not evident. Benefits from combined coverage may accrue in the longer term with an expanded base of voluntary payers or when those with subsidized premiums are lifted out of poverty. Copyright © 2011 Elsevier Ireland Ltd. All rights reserved.
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2010-07-01
... under 38 U.S.C. 1925, will purchase when applied as a net single premium at the attained age of the... indebtedness for such time from the due date of the premium in default as the reserve of the policy less any indebtedness will purchase when applied as a net single premium at the attained age of the insured. For this...
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Expectations and forward risk premium in the Spanish deregulated power market
International Nuclear Information System (INIS)
Furio, Dolores; Meneu, Vicente
2010-01-01
Deregulation in energy markets has entailed important changes in the way agents conduct business. Price risk arises as a result of fluctuations in the future price of electricity and agents assume long or short positions in the forward and spot markets to hedge their exposure to price risk. The presence of forward risk premium in prices is evidence of the fact that agents act in the market according to risk considerations. This work aims to analyse the information content of the difference between the forward and spot prices (the so-called forward premium) regarding the agents' decisions. We find that the sign and magnitude of the ex post forward premium depend on the unexpected variation in demand and on the unexpected variation in the hydroelectric capacity, and that both the ex post and the ex ante forward premia are negatively related to the variance of spot price, as predict. We provide additional insights about relevant aspects of spot price pricing in the Spanish electricity market such as the positive relation between spot prices and CO 2 emission allowance prices or the impact on spot prices of the set of market matching rules introduced in March 2006.
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Segal, Pnina; Sap, Danny; Ben-Amar, Ariel; Levartovsky, Shifra; Matalon, Shlomo
2016-02-01
Vital tooth preparations may cause irreversible thermal damage to the pulp. The manufacturing techniques of dental burs may decrease heat production and minimize the risk of overheating and trauma to the dental pulp. Strauss (Raanana, Israel) has introduced "premium" diamond burs, claiming superior efficiency and longevity. We sought to determine the safest preparation methods by performing a comparison of intrapulpal temperature increases caused with "standard" and "premium" burs. Three types of diamond burs (F1R, F21R, and K2) were tested on extracted human teeth (n = 8 teeth per bur type). Premium and standard manufacturing techniques were compared for each bur type (n = 24 teeth per group; total 48 teeth). An intrapulpal thermocouple was used to measure the temperature during the procedure. Comparisons were analyzed with the t test and one-way ANOVA. P ≤ .05 was considered significant. All premium burs demonstrated lower temperature increases compared to the standard burs (P ≤ .001 for F21R and K2, P = .086 for F1R). The temperature increases with premium burs were similar for different bur shapes, but the temperature increases with standard burs depended on the bur shape (P pulp tissue damage, and thus reduce postoperative pulp-associated complications.
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Umeh, Chukwuemeka A
2017-01-01
Premium exemption for the poor is a critical step towards achieving universal health coverage in sub-Saharan Africa due to the large proportion of the population living in extreme poverty who cannot pay premium. However, identifying the poor for premium exemption has been a big challenge for SSA countries. This paper is a succinct review of four methods available for identifying the poor, outlining the ideal conditions under which each of the methods should be used and the drawbacks associated with using each of the methods.
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2010-01-01
... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Rate of pay. 9901.305 Section 9901.305... (NSPS) Pay and Pay Administration General § 9901.305 Rate of pay. (a) The term “rate of pay” in 5 U.S.C... overtime and other premium pay rates (including compensatory time off); and (2) The rates comprising the...
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From idea to publication: Publication rates of theses in neurosurgery from Turkey.
Öğrenci, Ahmet; Ekşi, Murat Şakir; Özcan-Ekşi, Emel Ece; Koban, Orkun
2016-01-01
Thesis at the end of residency is considered as the complementary component of postgraduate training. In this respect, thesis helps the residents learn how to ask structured questions, set up the most appropriate study design, conduct the study, retrieve study results and write conclusions with clinical implications. To the best of our knowledge, the publication rates of theses in the field of neurosurgery have not been reported before. Our aim was to find out publication rates of theses in neurosurgery specialty, in this descriptive study. The database of Higher Education Council of Turkey, which includes the theses of residents in only university hospitals, was screened between years 2004 and 2013. After retrieving the theses from the database; we used search engines to find out the theses published in any SCI/SCI-E-indexed journals. For this purpose, the title of the theses and the author names were used as keywords for searching. Data was presented in a descriptive form as absolute numbers and percentages. We retrieved 164 theses written by former residents in neurosurgery using the database. Among 164 theses, 18% (national journals: 9; international journals: 21) were published in SCI/SCI-E indexed journals. Publication rates of theses in neurosurgery are low as they are in the other specialties of medicine. Our study is a descriptive research, to give an idea about publication rates of theses in neurosurgery. Further studies are required to understand the underlying factors, which are responsible for the limited success in publication of theses in neurosurgery. Copyright © 2015 Polish Neurological Society. Published by Elsevier Urban & Partner Sp. z o.o. All rights reserved.
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The Consumption of Premium Coffee-The Influence of Hedonic Needs vs. Utilitarian Needs
Hew, Keat Loong
2013-01-01
The paper looks at the influence that hedonic and utilitarian needs exude on consumer’s preference for premium coffee and ultimately their willingness to pay a premium for the coffee. Utilitarian needs are related to a desire to achieve some functional or practical benefit and often linked with the notion of product performance and usefulness (e.g. drinking coffee to accomplish a specific task such as a need to stay alert due to work requirement). It has tangible and actual attributes where c...
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History and the Equity Risk Premium
William Goetzmann; Roger Ibbotson
2005-01-01
We summarize some of our own past findings and place them in the context of the historical development of the idea of the equity risk premium and its empirical measurement by financial economists. In particular, we focus on how the theory of compensation for investment risk developed in the 20th century in tandem with the empirical analysis of historical investment performance. Finally, we update our study of the historical performance of the New York Stock Exchange over the period 1792 to th...
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77 FR 41270 - Health Insurance Premium Tax Credit
2012-07-13
... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 602 [TD 9590] RIN 1545-BJ82 Health Insurance Premium Tax Credit Correction In rule document 2012-12421 appearing on pages 30377-30400 in the issue of Wednesday, May 23, 2012, make the following corrections: 0 1. On page 30385, in the...
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PERHITUNGAN DANA PENSIUN DENGAN METODE PROJECTED UNIT CREDIT DAN INDIVIDUAL LEVEL PREMIUM
Directory of Open Access Journals (Sweden)
I GUSTI AYU KOMANG KUSUMA WARDHANI
2014-08-01
Full Text Available The company which provides the pension program needs the actuarial valuation to estimate the fund amount required by the company to pay for pension funding. Actuarial method that used in this research are projected unit credit and invidual level premium method. Through this research be obtained the result of valuation pension benefits with career average salary assumption is lower than the other salary assumptions. On the other hand, the result of normal cost final value valuation using individual level premium method is smaller than projected unit credit method that suits for the participants of the pension funding program.
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PERHITUNGAN DANA PENSIUN DENGAN METODE PROJECTED UNIT CREDIT DAN INDIVIDUAL LEVEL PREMIUM
Directory of Open Access Journals (Sweden)
I GUSTI AYU KOMANG KUSUMA WARDHANI
2014-05-01
Full Text Available The company which provides the pension program needs the actuarial valuation to estimate the fund amount required by the company to pay for pension funding. Actuarial method that used in this research are projected unit credit and invidual level premium method. Through this research be obtained the result of valuation pension benefits with career average salary assumption is lower than the other salary assumptions. On the other hand, the result of normal cost final value valuation using individual level premium method is smaller than projected unit credit method that suits for the participants of the pension funding program.
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Abbott, Ian; Middlewood, David; Robinson, Sue
2015-01-01
This article draws on data collected from a series of semi-structured interviews with headteachers and other stakeholders on the use of the Pupil Premium in Ofsted-rated outstanding schools. It has a focus on the significance of fundamental principles in determining how effective use is made of additional resources. In particular, the importance…
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Eric T. Anderson; Duncan I. Simester
2008-01-01
We analyze a large-scale field test conducted with a mail-order catalog firm to investigate how customers react to premium prices for larger sizes of women's apparel. We find that customers who demand large sizes react unfavorably to paying a higher price than customers for small sizes. Further investigation suggests that these consumers perceive that the price premium is unfair. Overall, premium pricing led to a 6% to 8% decrease in gross profits.
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Eibner, Christine; Saltzman, Evan
2015-03-20
The goals of the Affordable Care Act (ACA) are to enable all legal U.S. residents to have access to affordable health insurance and to prevent sicker individuals (such as those with preexisting conditions) from being priced out of the market. The ACA also instituted several policies to stabilize premiums and to encourage enrollment among healthy individuals of all ages. The law's tax credits and cost-sharing subsidies offer a "carrot" that may encourage enrollment among some young and healthy individuals who would otherwise remain uninsured, while the individual mandate acts as a "stick" by imposing penalties on individuals who choose not to enroll. In this article, the authors use the COMPARE microsimulation model, an analytic tool that uses economic theory and data to predict the effects of health policy reforms, to estimate how eliminating the ACA's individual mandate, eliminating the law's tax credits, and combined scenarios that change these and other provisions of the act might affect 2015 individual market premiums and overall insurance coverage. Underlying these estimates is a COMPARE-based analysis of how premiums and insurance coverage outcomes depend on young adults' propensity to enroll in insurance coverage. The authors find that eliminating the ACA's tax credits and eliminating the individual mandate both increase premiums and reduce enrollment on the individual market. They also find that these key features of the ACA help to protect against adverse selection and stabilize the market by encouraging healthy people to enroll and, in the case of the tax credit, shielding subsidized enrollees from premium increases. Further, they find that individual market premiums are only modestly sensitive to young adults' propensity to enroll in insurance coverage, and ensuring market stability does not require that young adults make up a particular share of enrollees.
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Directory of Open Access Journals (Sweden)
André M. Marques
2007-08-01
Full Text Available A proposta Bresser-Nakano deflagrou uma forte discussão sobre a política de juros no Brasil, suscitando uma série de críticas e contribuições para o seu aperfeiçoamento. Seu argumento central baseia-se na suposição de que o sentido da causalidade vai da taxa de juros para o prêmio de risco, e não o contrário. Com isso, a autoridade monetária, ao reduzi-la, promove um círculo virtuoso na economia, reduzindo o prêmio de risco e, através da taxa de câmbio, a própria inflação. Essa hipótese, no entanto, continua controversa e carece de estudos empíricos visando à sua verificação. O objetivo principal deste trabalho é investigar a sua validade para a economia brasileira nos últimos 10 anos de política monetária. Aplicando testes de causalidade de Granger, os resultados encontrados apóiam a hipótese Bresser-Nakano.The Bresser-Nakano's proposal raised a wide discussion on the monetary policy in Brazil and several critiques were brought about as well as contributions for its improvement. Their main argument is based upon a causality relation that runs from interest rate to risk premium with a positive correlation. In this case a cut in the interest rate shifts down the risk premium, and could even reduce the price inflation by the exchange rate. This assumption is linked to others issues in financial integration in an open economy context. The traditional view is that the interest rate is determined by the interest rate parity condition and that the monetary authority has no autonomy to set different rates from those determined by the "capital's flows". An alternative approach defends that is possible to peg with wide autonomy the domestic interest rate, even in this context. The results endorse Bresser-Nakano's proposal and suggest it could be feasible for Brazilian real situation.
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Cumulative Prospect Theory, Option Returns, and the Variance Premium
Baele, Lieven; Driessen, Joost; Ebert, Sebastian; Londono Yarce, J.M.; Spalt, Oliver
The variance premium and the pricing of out-of-the-money (OTM) equity index options are major challenges to standard asset pricing models. We develop a tractable equilibrium model with Cumulative Prospect Theory (CPT) preferences that can overcome both challenges. The key insight is that the
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Energy Technology Data Exchange (ETDEWEB)
Oliver, Henry; Volschenk, Jako; Smit, Eon [University of Stellenbosch Business School, Carl Cronje Drive, Bellville, Western Cape 7535 (South Africa)
2011-02-15
A number of studies have explored the willingness (i.e. stated willingness as opposed to actual willingness) of consumers to pay a premium for green electricity in developed countries. However, little is known about how this translates into an emerging economy context. This study investigates the level of willingness of residential households in South Africa's Cape Peninsula to pay a premium for electricity from renewable energy. It methodologically drew on recent contributions in the literature on norm-motivated behaviour used to identify testable factors that could influence residential consumers' willingness to pay (WTP). Interestingly, the study found a significant positive link between household income and WTP for green electricity, contrary to the findings of some previous studies. Not only are higher income households more likely to pay a premium, but typically they are also willing to pay a bigger premium. It was also further established that the view that green electricity is reliable, involvement in the recycling of waste and the belief that everyone should contribute to green electricity generation drive the WTP. (author)
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Amporfu, Eugenia
2013-01-07
The Ghanaian National Health Insurance Scheme (NHIS) was introduced to provide access to adequate health care regardless of ability to pay. By law the NHIS is mandatory but because the informal sector has to make premium payment before they are enrolled, the authorities are unable to enforce mandatory nature of the scheme. The ultimate goal of the Scheme then is to provide all residents with access to adequate health care at affordable cost. In other words, the Scheme intends to achieve universal coverage. An important factor for the achievement of universal coverage is that revenue collection be equitable. The purpose of this study is to examine the vertical and horizontal equity of the premium collection of the Scheme. The Kakwani index method as well as graphical analysis was used to study the vertical equity. Horizontal inequity was measured through the effect of the premium on redistribution of ability to pay of members. The extent to which the premium could cause catastrophic expenditure was also examined. The results showed that revenue collection was both vertically and horizontally inequitable. The horizontal inequity had a greater effect on redistribution of ability to pay than vertical inequity. The computation of catastrophic expenditure showed that a small minority of the poor were likely to incur catastrophic expenditure from paying the premium a situation that could impede the achievement of universal coverage. The study provides recommendations to improve the inequitable system of premium payment to help achieve universal coverage.
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Directory of Open Access Journals (Sweden)
Amporfu Eugenia
2013-01-01
Full Text Available Abstract The Ghanaian National Health Insurance Scheme (NHIS was introduced to provide access to adequate health care regardless of ability to pay. By law the NHIS is mandatory but because the informal sector has to make premium payment before they are enrolled, the authorities are unable to enforce mandatory nature of the scheme. The ultimate goal of the Scheme then is to provide all residents with access to adequate health care at affordable cost. In other words, the Scheme intends to achieve universal coverage. An important factor for the achievement of universal coverage is that revenue collection be equitable. The purpose of this study is to examine the vertical and horizontal equity of the premium collection of the Scheme. The Kakwani index method as well as graphical analysis was used to study the vertical equity. Horizontal inequity was measured through the effect of the premium on redistribution of ability to pay of members. The extent to which the premium could cause catastrophic expenditure was also examined. The results showed that revenue collection was both vertically and horizontally inequitable. The horizontal inequity had a greater effect on redistribution of ability to pay than vertical inequity. The computation of catastrophic expenditure showed that a small minority of the poor were likely to incur catastrophic expenditure from paying the premium a situation that could impede the achievement of universal coverage. The study provides recommendations to improve the inequitable system of premium payment to help achieve universal coverage.
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Estimating local, organic, and other price premiums of shell eggs in Hawaii.
Loke, Matthew K; Xu, Xun; Leung, PingSun
2016-05-01
Hedonic modeling and retail scanner data were utilized to investigate the influence of local, organic, nutrition benefits, and other attributes of shell eggs on retail price premium in Hawaii. Within a revealed preference framework, the analysis of local and organic attributes, simultaneously, under a single unified setting is important, as such work is highly deficient in the published literature. This paper finds high to moderate price premiums in four key attributes of shell eggs - organic (64%), local (40%), nutrition benefits claimed (33%), and brown shell (18.4%). Large and extra-large sized eggs also experience price premiums over medium sized eggs. With each larger packing size, the estimated coefficients were negative, indicating a price discount, relative to the baseline packing size. However, there is no evidence to support the overwhelming influence of "local" over "organic", as hypothesized in other research work. Overall, the findings in this paper suggest industry producers and retailers should highlight and market effusively the primary attributes of their shell eggs, including "local", to remain competitive in the marketplace. Effective communication channels are crucial to delivering the product information, capturing the attention of consumers, and securing retail sales. © 2016 Poultry Science Association Inc.
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A case for 'prevailing ecology' as premium determinant in home ...
African Journals Online (AJOL)
A case for 'prevailing ecology' as premium determinant in home-based child care ... Ewe mothers located in Dzemeni a migrant, lakeside community in Ghana. ... It builds a case from the analysis of definitions and concepts in care literature.
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Dixon, H; Scully, M; Niven, P; Kelly, B; Chapman, K; Donovan, R; Martin, J; Baur, L A; Crawford, D; Wakefield, M
2014-04-01
To assess pre-adolescent children's responses to common child-oriented front-of-pack food promotions. Between-subjects, web-based experiment with four front-of-pack promotion conditions on energy-dense and nutrient-poor (EDNP) foods: no promotion [control]; nutrient content claims; sports celebrity endorsements (male athletes) and premium offers. Participants were 1302 grade 5 and 6 children (mean age 11 years) from Melbourne, Australia. Participants chose their preferred product from a randomly assigned EDNP food pack and comparable healthier food pack then completed detailed product ratings. Child-oriented pack designs with colourful, cartooned graphics, fonts and promotions were used. Compared to the control condition, children were more likely to choose EDNP products featuring nutrient content claims (both genders) and sports celebrity endorsements (boys only). Perceptions of nutritional content were enhanced by nutrient content claims. Effects of promotions on some product ratings (but not choice) were negated when children referred to the nutrition information panel. Premium offers did not enhance children's product ratings or choice. Nutrient content claims and sports celebrity endorsements influence pre-adolescent children's preferences towards EDNP food products displaying them. Policy interventions to reduce the impact of unhealthy food marketing to children should limit the use of these promotions. © 2013 The Authors. Pediatric Obesity © 2013 International Association for the Study of Obesity.
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The Effect of Macroeconomic Variables on Market Risk Premium : Study of Sweden, Germany and Canada
Tahmidi, Arad; Sheludchenko, Dmytro; Allahyari Westlund, Samira
2011-01-01
ABSTRACT Title The Effect of Macroeconomic Variables on Market Premium. Study of Sweden, Germany and Canada Authors Samira Allahyari Westlund Arad Tahmidi Dmytro Sheludchenko Supervisor Christos Papahristodoulou Key words Macroeconomic, market risk premium, GDP, inflation, money supply, primary net lending and net borrowing, regression analysis. Institution Mälardalen University School of Sustainable Development of Society and Technology Box 883, SE-721 23 Västerås Sweden Course Bachelor The...
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Canadian Pharmacy Practice Residents’ Projects: Publication Rates and Study Characteristics
Hung, Michelle; Duffett, Mark
2013-01-01
Background: Research projects are a key component of pharmacy residents’ education. Projects represent both a large investment of effort for each resident (up to 10 weeks over the residency year) and a large body of research (given that there are currently over 150 residency positions in Canada annually). Publication of results is a vital part of the dissemination of information gleaned from these projects. Objectives: To determine the publication rate for research projects performed under the auspices of accredited English-language hospital pharmacy residency programs in Canada and to describe the study characteristics of residency projects performed in Ontario from 1999/2000 to 2008/2009. Methods: Lists of residents and project titles for the period of interest were obtained from residency coordinators. PubMed, CINAHL, the Canadian Journal of Hospital Pharmacy, and Google were searched for evidence of publication of each project identified, as an abstract or presentation at a meeting, a letter to the editor, or a full-text manuscript. The library holdings of the University of Toronto were reviewed to determine study characteristics of the Ontario residency projects. Results: For the objective of this study relating to publication rate, 518 projects were included. The overall publication rate was 32.2% (60 [35.9%] as abstracts and 107 [64.1%] as full-text manuscripts). Publication in pharmacy-specific journals (66 [61.7%] of 107 full-text manuscripts) was more frequent than publication in non-pharmacy-specific journals. The publication rate of projects as full-text manuscripts remained stable over time. Of the 202 Ontario residency projects archived in the University of Toronto’s library, most were cohort studies (83 [41.1%]), and the most common topic was efficacy and/or safety of a medication (46 [22.8%]). Conclusions: Most hospital pharmacy residents’ projects were unpublished, and the publication rate of projects as full-text manuscripts has not
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Canadian pharmacy practice residents' projects: publication rates and study characteristics.
Hung, Michelle; Duffett, Mark
2013-03-01
Research projects are a key component of pharmacy residents' education. Projects represent both a large investment of effort for each resident (up to 10 weeks over the residency year) and a large body of research (given that there are currently over 150 residency positions in Canada annually). Publication of results is a vital part of the dissemination of information gleaned from these projects. To determine the publication rate for research projects performed under the auspices of accredited English-language hospital pharmacy residency programs in Canada and to describe the study characteristics of residency projects performed in Ontario from 1999/2000 to 2008/2009. Lists of residents and project titles for the period of interest were obtained from residency coordinators. PubMed, CINAHL, the Canadian Journal of Hospital Pharmacy, and Google were searched for evidence of publication of each project identified, as an abstract or presentation at a meeting, a letter to the editor, or a full-text manuscript. The library holdings of the University of Toronto were reviewed to determine study characteristics of the Ontario residency projects. For the objective of this study relating to publication rate, 518 projects were included. The overall publication rate was 32.2% (60 [35.9%] as abstracts and 107 [64.1%] as full-text manuscripts). Publication in pharmacy-specific journals (66 [61.7%] of 107 full-text manuscripts) was more frequent than publication in non-pharmacy-specific journals. The publication rate of projects as full-text manuscripts remained stable over time. Of the 202 Ontario residency projects archived in the University of Toronto's library, most were cohort studies (83 [41.1%]), and the most common topic was efficacy and/or safety of a medication (46 [22.8%]). Most hospital pharmacy residents' projects were unpublished, and the publication rate of projects as full-text manuscripts has not increased over time. Most projects were observational studies
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Optimal Premium as a Function of the Deductible: Customer Analysis and Portfolio Characteristics
Directory of Open Access Journals (Sweden)
Julie Thøgersen
2016-11-01
Full Text Available An insurance company offers an insurance contract ( p , K , consisting of a premium p and a deductible K. In this paper, we consider the problem of choosing the premium optimally as a function of the deductible. The insurance company is facing a market of N customers, each characterized by their personal claim frequency, α, and risk aversion, β. When a customer is offered an insurance contract, she/he will, based on these characteristics, choose whether or not to insure. The decision process of the customer is analyzed in detail. Since the customer characteristics are unknown to the company, it models them as i.i.d. random variables; A 1 , … , A N for the claim frequencies and B 1 , … , B N for the risk aversions. Depending on the distributions of A i and B i , expressions for the portfolio size n ( p ; K ∈ [ 0 , N ] and average claim frequency α ( p ; K in the portfolio are obtained. Knowing these, the company can choose the premium optimally, mainly by minimizing the ruin probability.
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Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J
2015-11-03
Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004-2009) using Cox proportional hazard modelling. The sample was 13.28% African-American; the average income was $52,334 (SD=31,445). The average price premium and market share of smokers' dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/
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46 CFR 308.507 - Security for payment of premiums.
2010-10-01
....507 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS WAR RISK INSURANCE War Risk Cargo Insurance Ii-Open Policy War Risk Cargo Insurance § 308.507 Security for payment of... collateral deposit fund or a surety bond, to secure the payment of the premiums, in an amount which shall at...
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Analysis of drivers affecting the use of market premium for renewables in Germany
International Nuclear Information System (INIS)
Genoese, Massimo; Slednev, Viktor; Fichtner, Wolf
2016-01-01
In this paper, we identify and analyze parameters that determine the profitability of wind power operators in the German market premium model. Based on an empirical analysis of different German wind power profiles from 2007 to mid-2012, we are able to show that the profitability significantly depends on the correlation of the wind power portfolio with the overall wind power feed-in and prediction error in Germany. Significant differences between the wind forecast errors clearing cost of the analyzed portfolios can be identified. Our analysis shows that a wind power operator would profit in most cases from a reduced forecast error, which could be achieved through an improved forecast model and an increased share of the intraday cleared error. Furthermore significant locational portfolio advantages and disadvantages can be identified when comparing the different market values. In general, the empirical analysis shows that a premium of 3.5 €/MWh is suitable to cover the cost of an imperfect forecast. Taking further into account that for 2012 a premium of 12 €/MWh was granted; the direct marketing option can be evaluated as highly attractive, which is furthermore indicated by the rapid increase of the directly marketed wind power and photovoltaic generation. - Highlights: • Wind power operator profitability in the German market premium model is analyzed. • Correlation with the overall wind power feed-in and prediction error is crucial. • Wind forecast error clearing cost of the analyzed portfolios show clear differences. • The direct marketing option of wind power can be evaluated as attractive.
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Hobin, Erin P; Hammond, David G; Daniel, Samantha; Hanning, Rhona M; Manske, Steve
2012-05-24
"Toy premiums", offered with McDonald's Happy Meals®, are a prominent form of food marketing directed at children. Two California jurisdictions recently implemented policies that only permit offering fast-food toy premiums with meals that meet certain nutritional criteria. The primary objective of the current study was to examine elements of this policy in a Canadian context and determine if children select healthier food products if toy premiums are only offered with healthier food options. The study also examined if the impact of restricting toy premiums to healthier foods varied by gender and age. A between-groups experimental study was conducted with 337 children aged 6-12 years attending day camps in Ontario, Canada. Children were offered one of four McDonald's Happy Meals® as part of the camp lunch program: two "healthier" meals that met the nutritional criteria and two meals that did not. In the control condition, all four meals were offered with a toy premium. In the intervention condition, the toy was only offered with the two "healthier" meals. Children were significantly more likely to select the healthier meals when toys were only offered with meals that met nutritional criteria (OR=3.19, 95% CI: 1.89-5.40). The effect of pairing toys with healthier meals had a stronger effect on boys than girls (OR=1.90, 95% CI: 1.14-3.17). Policies that restrict toy premiums to food that meet nutritional criteria may promote healthier eating at fast-food restaurants.
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Social Security and the Equity Premium Puzzle
Olovsson, Conny
2004-01-01
This paper shows that social security may be an important factor in explaining the equity premium puzzle. In the absence of shortselling constraints, the young shortsell bonds to the middle-aged and buy equity. Social security reduces the bond demand of the middle-aged, thereby restricting the possibilities of the young to finance their equity purchases. Their equity demand increases as does the average return to equity. Social security also increases the covariance between future consumption...
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Publication Rates for Abstracts Presented by Korean Investigators at Major Radiology Meetings
International Nuclear Information System (INIS)
Ha, Tae Ho; Yoon, Dae Young; Goo, Dong Hyun; Chang, Suk Ki; Seo, Young Lan; Yun, Eun Joo; Moon, Jeung Hee; Lee, Yu Jin; Lim, Kyoung Ja; Choi, Chul Soon
2008-01-01
To determine the publication rate of abstracts presented by Korean investigators at national and international radiological meetings, and to identify predictive factors of publication. Abstracts presented at the annual meetings of the Korean Radiological Society (KRS), and abstracts presented by Korean investigators at the annual meetings of the Radiological Society of North America (RSNA) and European Congress of Radiology (ECR) from 2001 to 2002 were searched for subsequent publication, using PubMed and the Korean Medical Database. The following variables were evaluated. 1) The overall publication rate; 2) the publication rates according to the radiological subspecialty, presentation type (oral or poster), sample size (≤ 20, 21 50, or > 50), study design (prospective or retrospective), statistical analysis (present or absent), and study outcome (positive or negative); 3) the time to publication; 4) the journal where the study was published; 5) consistency between the abstract and the final publication. Of 1,097 abstracts, 301 (27.4%) were subsequently published, at an average of 15.8 ± 13.8 months after presentation in 48 journals. The publication rates for studies presented at the RSNA (35.4%) and ECR (50.5%) conferences were significantly higher than that for the KRS conference (23.6%, p < 0.05). Vascular/interventional radiology studies had the highest publication rate (33.1%), whereas musculoskeletal radiology studies had the lowest publication rate (17.1%). Other factors associated with subsequent publication were prospective design, use of statistical testing, and a positive study outcome. The publication rate is significantly lower for the KRS (23.6%) meeting abstracts as compared to those of the RSNA (35.4%) and ECR (50.5%). Prospective design, use of statistical testing, and positive study outcome have a statistically significant effect on the publication rate
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Stare down the barrel and center the crosshairs: Targeting the ex ante equity premium
Glen Donaldson; Mark Kamstra; Lisa Kramer
2003-01-01
The equity premium of interest in theoretical models is the extra return investors anticipate when purchasing risky stock instead of risk-free debt. Unfortunately, we do not observe this ex ante premium in the data; we only observe the returns that investors actually receive ex post, after they purchase the stock and hold it over some period of time during which random economic shocks affect prices. Over the past century U.S. stocks have returned roughly 6 percent more than risk-free debt, wh...
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Comptroller General of the U.S., Washington, DC.
The insurance premium rates that guaranty agencies charge student borrowers under the Guaranteed Student Loan program were analyzed by the U.S. General Accounting Office. The Higher Education Amendments of 1986 established a maximum rate (3% of the principal loan amount) that all agencies could charge student borrowers. Comparisons were made of…
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Financial crisis and market risk premium: Identifying multiple structural changes
Directory of Open Access Journals (Sweden)
Juan J. García-Machado
2011-03-01
Full Text Available The relationship between macroeconomic variables and stock market returns is, by now, well-documented in the literature. However, in this article we examine the long-run relationship between stock and bond markets returns over the period from 1991:11 to 2009:11, using Bai and Perron’s multiple structural change approach. Findings indicate that while the market risk premium is usually positive, periods with negative values appear only in three periods (1991:1-1993:2, 1998:3-2002:2 and from 2007:1-2009:11 leading to changes in the GDP evolution. Thereby, the study shows the presence of structural breaks in the Spanish market risk premium and its relationship with business cycle. These findings contribute to a better understanding of close linkages between the financial markets and the macroeconomic variables such as GDP. Implications of the study and suggestions for future research are provided.
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Percutaneous Closure of Patent Foramen Ovale in Patients With Migraine: The PREMIUM Trial.
Tobis, Jonathan M; Charles, Andrew; Silberstein, Stephen D; Sorensen, Sherman; Maini, Brijeshwar; Horwitz, Phillip A; Gurley, John C
2017-12-05
Migraine is a prevalent and disabling disorder. Patent foramen ovale (PFO) has been associated with migraine, but its role in the disorder remains poorly understood. This study examined the efficacy of percutaneous PFO closure as a therapy for migraine with or without aura. The PREMIUM (Prospective, Randomized Investigation to Evaluate Incidence of Headache Reduction in Subjects With Migraine and PFO Using the AMPLATZER PFO Occluder to Medical Management) was a double-blind study investigating migraine characteristics over 1 year in subjects randomized to medical therapy with a sham procedure (right heart catheterization) versus medical therapy and PFO closure with the Amplatzer PFO Occluder device (St. Jude Medical, St. Paul, Minnesota). Subjects had 6 to 14 days of migraine per month, had failed at least 3 migraine preventive medications, and had significant right-to-left shunt defined by transcranial Doppler. Primary endpoints were responder rate defined as 50% reduction in migraine attacks and adverse events. Secondary endpoints included reduction in migraine days and efficacy in patients with versus without aura. Of 1,653 subjects consented, 230 were enrolled. There was no difference in responder rate in the PFO closure (45 of 117) versus control (33 of 103) groups. One serious adverse event (transient atrial fibrillation) occurred in 205 subjects who underwent PFO closure. Subjects in the PFO closure group had a significantly greater reduction in headache days (-3.4 vs. -2.0 days/month, p = 0.025). Complete migraine remission for 1 year occurred in 10 patients (8.5%) in the treatment group versus 1 (1%) in the control group (p = 0.01). PFO closure did not meet the primary endpoint of reduction in responder rate in patients with frequent migraine. (Prospective, Randomized Investigation to Evaluate Incidence of Headache Reduction in Subjects With Migraine and PFO Using the AMPLATZER PFO Occluder to Medical Management [PREMIUM]; NCT00355056). Copyright
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A Comparative Analysis of the Financial Incentives of Two Distinct Experience-Rating Programs.
Tompa, Emile; McLeod, Chris; Mustard, Cam
2016-07-01
The aim of this study was to compare the association between insurance premium incentives and claim outcomes in two different workers' compensation programs. Regression models were run for claim outcomes using data from two Canadian jurisdictions with different experience-rating programs-one with prospective (British Columbia) and another with retrospective (Ontario) adjustment of premiums. Key explanatory variables were past premium adjustments. For both programs, past premium adjustments were significantly associated with claim outcomes, suggesting adjustments provided incentives for claims reduction. The magnitudes of effects in the prospective program were smaller than the retrospective one, though relative persistence of effects over time was larger. Having large and immediate employer responses to incentives may appear desirable, but insurers should consider the time required for employers to improve and sustain good practices, and create incentives that parallel such time lines.
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75 FR 73166 - Publication of the Tier 2 Tax Rates
2010-11-29
... DEPARTMENT OF THE TREASURY Internal Revenue Service Publication of the Tier 2 Tax Rates AGENCY: Internal Revenue Service, Treasury. ACTION: Notice. SUMMARY: Publication of the tier 2 tax rates for...). Tier 2 taxes on railroad employees, employers, and employee representatives are one source of funding...
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76 FR 71623 - Publication of the Tier 2 Tax Rates
2011-11-18
... DEPARTMENT OF THE TREASURY Internal Revenue Service Publication of the Tier 2 Tax Rates AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: Publication of the tier 2 tax rates for...). Tier 2 taxes on railroad employees, employers, and employee representatives are one source of funding...
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78 FR 71039 - Publication of the Tier 2 Tax Rates
2013-11-27
... DEPARTMENT OF THE TREASURY Internal Revenue Service Publication of the Tier 2 Tax Rates AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: Publication of the tier 2 tax rates for...). Tier 2 taxes on railroad employees, employers, and employee representatives are one source of funding...
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Premium quality for a mechanical design department
Rofín Serrà, Guillem
2009-01-01
This Thesis has been carried out in a market which is expected to grow rapidly in the next decade. Because of this, actors in the market like Alpha want to strengthen their business position through refining the quality of their products and processes. One of the internal targets of MD, a mechanical design department within Alpha, referred to “premium product quality parameters” although these were not defined. Hence, this Thesis intends to contribute in the definition and understanding that ...
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Energy Technology Data Exchange (ETDEWEB)
Claudia, Baptista M.L.A.; Adalberto, Barbalho S [Petroleo Brasileiro S.A. (PETROBRAS), Rio de Janeiro, RJ (Brazil)
2012-07-01
Nowadays, there are major incentives for the construction of new refineries in Brazil: the increase of the local market and the discovery of huge oil reserves in the southeastern Atlantic coast of Brazil. In this scenario, PETROBRAS decided to construct two new refineries, Premium I and II, with a total refining capacity of 900.000 BPSD. The refineries will be designed to process a mix of Brazilian national crudes. The main objects of this ambitious project are to produce high quality diesel and jet fuel from an elevated nitrogen content feedstock, minimizing capital expenditure and schedule. Both refineries will have the same flow scheme with a target to maximize Middle distillate production for the European and local markets. In order to assure that the refinery scheme and the technologies selected will provide the best Net Present Value (NPV), it was decided to perform a Design Competition process to select the company to provide the basic design for all Premium refineries. As the concepts behind a Design Competition were new for PETROBRAS a rigorous process was developed and followed, which entailed contracting three benchmark companies with outstanding knowledge and experience in hydroprocessing to provide independent conceptual studies for a 300.000 BPSD refinery called Premium II. The vision was to utilize the same refinery scheme in the construction of the Premium I refinery which will have two identical trains processing 300.000 BPD. The awarded company was selected based on technical and economic evaluations, supported by state of the art hydroprocessing technologies, block flow diagram optimization and heat integration. This strategy allowed PETROBRAS to acquire the best refinery scheme and process designs for the PREMIUM refineries. The present paper discusses the design competition process, the refinery scheme adopted and the results achieved. (author)
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Directory of Open Access Journals (Sweden)
Y. Paudel
2013-03-01
Full Text Available This study applies Bayesian Inference to estimate flood risk for 53 dyke ring areas in the Netherlands, and focuses particularly on the data scarcity and extreme behaviour of catastrophe risk. The probability density curves of flood damage are estimated through Monte Carlo simulations. Based on these results, flood insurance premiums are estimated using two different practical methods that each account in different ways for an insurer's risk aversion and the dispersion rate of loss data. This study is of practical relevance because insurers have been considering the introduction of flood insurance in the Netherlands, which is currently not generally available.
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Paudel, Y.; Botzen, W. J. W.; Aerts, J. C. J. H.
2013-03-01
This study applies Bayesian Inference to estimate flood risk for 53 dyke ring areas in the Netherlands, and focuses particularly on the data scarcity and extreme behaviour of catastrophe risk. The probability density curves of flood damage are estimated through Monte Carlo simulations. Based on these results, flood insurance premiums are estimated using two different practical methods that each account in different ways for an insurer's risk aversion and the dispersion rate of loss data. This study is of practical relevance because insurers have been considering the introduction of flood insurance in the Netherlands, which is currently not generally available.
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2010-04-01
... insurance premium excluded from limitations on maximum mortgage amounts. 203.18c Section 203.18c Housing and...-front mortgage insurance premium excluded from limitations on maximum mortgage amounts. After... LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE FAMILY MORTGAGE...
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75 FR 38748 - Medicaid Program; Premiums and Cost Sharing; Correction
2010-07-06
... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Medicare & Medicaid Services 42 CFR Parts 447 and 457 [CMS-2244-CN] RIN 0938-AP73 Medicaid Program; Premiums and Cost Sharing; Correction AGENCY: Centers for Medicare & Medicaid Services (CMS), HHS ACTION: Correction of final rule with comment period...
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Leveraged Public to Private Transactions in the UK
Renneboog, L.D.R.; Simons, T.; Wright, M.
2005-01-01
This paper examines the magnitude and the sources of the expected shareholder gains in UK public to private transactions (PTPs) in the second wave from 1997-2003.Pre-transaction shareholders on average receive a premium of 40% and the share price reaction to the PTP announcement is about 30%.The
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International Nuclear Information System (INIS)
Park, Ju Young
2017-01-01
This study examines the price premium from Korea's Energy Efficiency Grade Label. The Korean government recently began energy certification of televisions, providing a setting to analyze a possible price effect of the new label. Hedonic regression results seem to show that a price premium exists for products with the Energy Efficiency Grade Label. However, potential unobserved heterogeneity is a concern. Difference-in-difference and fixed-effects models are used to capture the net effect of the label by controlling for time and product differences. The results suggest that any price premium does not result from the energy efficiency label itself. Instead, energy-efficient products already had higher prices before the introduction of the energy efficiency label. The finding turns our attention to the importance of careful design of labeling programs. - Highlights: • The study examines the price premium from Korea's Energy Efficiency Grade Label. • Difference-in-difference and fixed-effects models are used to address potential unobserved heterogeneity and to capture the net effect of the label by controlling for time and product differences. • The result suggests that any price premium does not result from the energy efficiency label itself; instead, energy-efficient products already have higher prices before the introduction of the energy efficiency label. • The finding turns our attention to the importance of careful design of labeling programs.
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Country risk premium: theoretical determinants and empirical evidence for latin american countries
Directory of Open Access Journals (Sweden)
Selmo Aronovich
1999-12-01
Full Text Available This paper investigates the behavior of the country risk premium for Argentina, Brazil and Mexico, from June 1997 to September 1998. It shows that the level of country risk premium is determined by different factors: the US dollar bond market structure; restrictions on the acquisition of emerging market bonds imposed by developed nations regulators; the credit risk measured by the notion of implied risk-neutral probability default; the different ways agents react to country risk due to asymmetric and imperfect information. The empirical investigation shows: the worse the country credit rating, the greater is the impact on international borrowing cost, which implies that negative expectations have greater impact on lower rated Latin American nations' bonds; country risk yield spreads overreacted to changes in the US dollar interest rates in the sample period.Este artigo investiga o comportamento do conceito de prêmio de risco-país para Argentina, Brasil e México, de junho de 1997 até setembro de 1998. Mostra-se que tal prêmio é determinado pelos seguintes fatores: a estrutura do mercado de títulos de dívida em dólares norte-americanos; as restrições à aquisição de títulos de dívida impostas por agentes reguladores de países desenvolvidos; o risco de crédito mensurado pelo conceito de probabilidade de inadimplência risco-nêutra implícita; o modo como os agentes reagem à informação assimétrica ou imperfeita. A evidência empírica revela que: quanto pior a classificação de risco de crédito, maior é o impacto esperado sobre as condições de captação externa, implicando que expectativas desfavoráveis afetam de forma mais acentuada países com baixa classificação de crédito; o valor do spread representativo do risco-país mostrou-se superelástico à variação da taxa de juros de longo prazo do Tesouro norte-americano no período da amostra.
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Nasseh, Kamyar; Vujicic, Marko
2017-04-01
Pediatric dental benefits must be offered in the health insurance marketplaces created under the Affordable Care Act. The authors analyzed trends over time in premiums and the number of dental insurers participating in the marketplaces. The authors collected dental benefit plan data from 35 states participating in the federally facilitated marketplaces in 2014, 2015, and 2016. For each county, they counted the number of issuers offering stand-alone dental plans (SADPs) and medical plans with embedded pediatric dental benefits. They also analyzed trends in premiums. From 2014 through 2016, the number of issuers of stand-alone dental plans and medical plans with embedded pediatric dental benefits either did not change or increased in most counties. Average premiums for low-actuarial-value SADPs declined from 2014 through 2016. The increase in the number of issuers of stand-alone dental plans and medical plans with embedded dental benefits may be associated with lower premiums. However, more research is needed to determine if this is the case. Affordable dental plans in the marketplaces could induce people with lower incomes to sign up for dental benefits. Newly insured people could have significant oral health needs and pent-up demand for dental care. Copyright © 2017 American Dental Association. Published by Elsevier Inc. All rights reserved.
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Directory of Open Access Journals (Sweden)
Maciej Płatkowski
2016-01-01
Full Text Available The aim of study was to determine the influence of NaCl and glyphosate-based herbicide Avans Premium 360 SL on acid and alkaline phosphomonoesterase activities in sandy loam. The experiment was carried out in laboratory conditions on sandy loam with Corg content 10.90 g/kg. Soil was divided into half kilogram samples and adjusted to 60% of maximum water holding capacity. In the experiment dependent variables were: I – dosages of Avans Premium 360 SL (0, a recommended field dosage – FD, a tenfold higher dosage – 10 FD and hundredfold higher dosage – 100 FD, II – amount of NaCl (0, 3% and 6%, III – day of experiment (1, 7, 14, 28 and 56. On days of experiment the activity of alkaline and acid phosphomonoesterase activity was assayed spectrophotometrically. The obtained result showed that the application of Avans Premium 360 SL decreased in acid and alkaline phosphomonoesterase activity in clay soil. Significant interaction effect between the dosage of Avans Premium 360 SL, NaCl amount and day of experiment was reported in the experiment. The inhibitory effect of Avans Premium 360 SL was the highest in soil with NaCl at the amount of 6%.
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Polsky, Daniel; Cidav, Zuleyha; Swanson, Ashley
2016-10-01
The introduction of health insurance Marketplaces under the Affordable Care Act has been associated with growth of restricted provider networks. The value of this plan design strategy, including its association with lower premiums, is uncertain. We used data from all silver plans offered in the 2014 health insurance exchanges in the fifty states and the District of Columbia to estimate the association between the breadth of a provider network and plan premiums. We found that within a market, for plans of otherwise equivalent design and controlling for issuer-specific pricing strategy, a plan with an extra-small network had a monthly premium that was 6.7 percent less expensive than that of a plan with a large network. Because narrow networks remain an important strategy available to insurance companies to offer lower-cost plans on health insurance Marketplaces, the success of health insurance coverage expansions may be tied to the successful implementation of narrow networks. Project HOPE—The People-to-People Health Foundation, Inc.
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26 CFR 1.163-13 - Treatment of bond issuance premium.
2010-04-01
... its regular method of accounting. (2) Qualified stated interest allocable to an accrual period. See... accounting, and X decides to use annual accrual periods ending on February 1 of each year. X's calculations... interest allocable to an accrual period with the bond issuance premium allocable to that period. Bond...
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The public sector pay gap in Italy
Giordano Raffaela
2010-01-01
I investigate the public-private pay gap using Italian microdata covering the period 1980-2006. Even after controlling for observable characteristics of the labour force, I find a positive wage premium for the public sector, almost negligible during the eighties and averaging at about 12 percent in the period 1993-2006. While the pay gap for women and workers in southern regions turns out to be higher than the average in the whole sample period, the greater advantage from working in the publi...
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The effect of public health spending on under-five mortality rate in ...
African Journals Online (AJOL)
The effect of public health spending on under-five mortality rate in Uganda. ... PROMOTING ACCESS TO AFRICAN RESEARCH ... rate, Neonatal mortality rate, Public health expenditure, Sustainable Development Goals and Health status ...
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76 FR 75781 - Treasury Inflation-Protected Securities Issued at a Premium
2011-12-05
... Inflation-Protected Securities Issued at a Premium AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... tax treatment of Treasury Inflation-Protected Securities issued with more than a de minimis amount of... a toll-free number). SUPPLEMENTARY INFORMATION: Background Treasury Inflation-Protected Securities...
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Asymmetric impacts of global risk appetite on the risk premium for an emerging market
Kanlı, İbrahim Burak
2008-05-01
This paper analyzes the impact of global risk appetite on the risk premium utilizing high-frequency data. Taking the Turkish economy as our laboratory, we find that the risk premium volatility responds only to a worsening in the risk appetite for the Turkish economy, which is a result that we do not observe for the other emerging markets. Then, we investigate the role of current account dynamics on this asymmetric effect, by focusing also on an economy with similar current account performance. The empirical results find supporting evidence for the role of current account dynamics on the estimated asymmetry.
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Global Variance Risk Premium and Forex Return Predictability
Aloosh, Arash
2014-01-01
In a long-run risk model with stochastic volatility and frictionless markets, I express expected forex returns as a function of consumption growth variances and stock variance risk premiums (VRPs)—the difference between the risk-neutral and statistical expectations of market return variation. This provides a motivation for using the forward-looking information available in stock market volatility indices to predict forex returns. Empirically, I find that stock VRPs predict forex returns at a ...
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Specifics of the Unearned Premium Reserve in the Accounting of Commercial Insurance Companies
Directory of Open Access Journals (Sweden)
Jana Gláserová
2014-01-01
Full Text Available Commercial insurance companies are liable to create, on the basis of risks arising from the fulfillment of the object of their activity, technical reserves, which are used to cover liabilities arising to insurance companies from insurance and reinsurance activity. The paper focuses on the technical reserve which is, in accordance with the accounting-legal regulation, created obligatorily in commercial insurance companies – it is the unearned premium reserve.The paper explores the role and place of this technical reserve in the accounting of the commercial insurance companies based on the analysis of its substance, i.e. the objective definition. The paper is based on the methodology of the accounting, evaluation and methods of determining the amount of the technical reserve which will affect the income from operations as well as income tax base of commercial insurance companies. The paper also studied the method of reporting of unearned premium reserve in accounting according to Czech accounting legislation in comparison with International Accounting Standards (IAS/IFRS. The aim of this paper is to determine the impacts of the creation and application of the unearned premium reserve on some important items of the financial statements, which are mainly the income of operations, equity capital and balance sheet as well as to identify the impacts of different reporting of this reserve according to Czech accounting legislation and in accordance with IAS/IFRS. Performing the analysis of the accounting-legal regulation of the unearned premium reserve in the insurance companies, the analysis of the method of accounting of this reserve and also the comparison of reporting of this reserve according to both mentioned regulations is a prerequisite for the fulfillment of the aim.
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Belkina, T. A.; Konyukhova, N. B.; Kurochkin, S. V.
2012-10-01
A singular boundary value problem for a second-order linear integrodifferential equation with Volterra and non-Volterra integral operators is formulated and analyzed. The equation is defined on ℝ+, has a weak singularity at zero and a strong singularity at infinity, and depends on several positive parameters. Under natural constraints on the coefficients of the equation, existence and uniqueness theorems for this problem with given limit boundary conditions at singular points are proved, asymptotic representations of the solution are given, and an algorithm for its numerical determination is described. Numerical computations are performed and their interpretation is given. The problem arises in the study of the survival probability of an insurance company over infinite time (as a function of its initial surplus) in a dynamic insurance model that is a modification of the classical Cramer-Lundberg model with a stochastic process rate of premium under a certain investment strategy in the financial market. A comparative analysis of the results with those produced by the model with deterministic premiums is given.
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Directory of Open Access Journals (Sweden)
Olja Munitlak Ivanović
2013-12-01
Full Text Available In current business conditions, insurance market in the Republic of Serbia notes positive but relatively slow growing trend. During the last few years, life insurance market in Serbia has an upward trend, however, it still significantly falls back in comparison to developed European countries. Insufficient development of life insurance sector is in direct relation to insufficient economic development, weak financial market, high unemployment rate and poor implementation of economic reforms. Additionally there is a problem due to the lack of both quality and quantity of education with insufficient basic knowledge of potentials that this type of insurance offers. The aim of this paper is to present the projection of life insurance premium on the basis of linear trend parameters and correlation degree between average net income and the amount of life insurance premium and to emphasize the necessity of intense development of life insurance market. Normal 0 false false false EN-US X-NONE X-NONE
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Premium analysis for copula model: A case study for Malaysian motor insurance claims
Resti, Yulia; Ismail, Noriszura; Jaaman, Saiful Hafizah
2014-06-01
This study performs premium analysis for copula models with regression marginals. For illustration purpose, the copula models are fitted to the Malaysian motor insurance claims data. In this study, we consider copula models from Archimedean and Elliptical families, and marginal distributions of Gamma and Inverse Gaussian regression models. The simulated results from independent model, which is obtained from fitting regression models separately to each claim category, and dependent model, which is obtained from fitting copula models to all claim categories, are compared. The results show that the dependent model using Frank copula is the best model since the risk premiums estimated under this model are closely approximate to the actual claims experience relative to the other copula models.
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2013-10-30
...)(A) of the Act specifies that the premium that these individuals will pay for CY 2014 will be equal... OASDI program or the Railroad Retirement Act and certain others do not have to pay premiums for Medicare...-6390. SUPPLEMENTARY INFORMATION: I. Background Section 1818 of the Social Security Act (the Act...
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The estimation of risk-premium implicit in oil prices
International Nuclear Information System (INIS)
Luis, J.B.
2001-01-01
The futures price can be seen as the sum of the expected value of the underlying asset price and a risk-premium. In order to disentangle these two components of the futures price, one can try to model the relationship between spot and futures prices, in order to obtain a closed expression for the risk-premium, or to use information from spot and option prices to estimate risk-aversion functions. Given the high volatility of the ratios between futures and spot prices, we opted for the latter, estimating risk-neutral and subjective probability density functions, respectively, from observed option and spot prices. looking at the prices of Brent and West Texas Intermediate light/sweet crude oil options, the obtained evidence suggests that risk-aversion is typically very low for levels near the futures prices. However, due to price volatility and, consequently, to the tails of distribution, the risk-aversion functions are badly behaved in extreme prices and futures prices do not anticipate sharp movements in oil spot prices. Therefore, futures oil prices seem to be useful in forecasting spot prices only when moderate price changes occur. (author)
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2010-03-24
... DEPARTMENT OF ENERGY Southeastern Power Administration Proposed Rate Adjustment, Public Forum, and Opportunities for Public Review and Comment for Georgia-Alabama-South Carolina System of Projects AGENCY: Southeastern Power Administration, DOE. ACTION: Notice to change date and location of the Public Information...
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Quantifying the Impact of Autism Coverage on Private Insurance Premiums
Bouder, James N.; Spielman, Stuart; Mandell, David S.
2009-01-01
Many states are considering legislation requiring private insurance companies to pay for autism-related services. Arguments against mandates include that they will result in higher premiums. Using Pennsylvania legislation as an example, which proposed covering services up to $36,000 per year for individuals less than 21 years of age, this paper…
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Determinants of Graduation Rate of Public Alternative Schools
Izumi, Masashi; Shen, Jianping; Xia, Jiangang
2015-01-01
In this study we investigated determinants of the graduation rate of public alternative schools by analyzing the most recent, nationally representative data from Schools and Staffing Survey 2007-2008. Based on the literature, we built a series of three regression models via successive block entry, predicting the graduate rate first by (a) student…
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The equity premium in finance and valuation textbooks
Fernandez, Pablo
2008-01-01
This paper is a review of the recommendations about the equity premium found in the main finance and valuation textbooks. We review several editions of books written by authors such as Brealey and Myers; Copeland, Koller and Murrin (McKinsey); Ross, Westerfield and Jaffe; Bodie, Kane and Marcus; Damodaran; Copeland and Weston; Van Horne; Bodie and Merton; Stowe et al.; Pratt; Penman; Bruner; Weston & Brigham; and Arzac. We highlight the confusing message the textbooks convey regarding the equ...
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2012-11-21
...)(A) of the Act specifies that the premium that these individuals will pay for CY 2013 will be equal... program or the Railroad Retirement Act and certain others do not have to pay premiums for Medicare Part A.... SUPPLEMENTARY INFORMATION: I. Background Section 1818 of the Social Security Act (the Act) provides for...
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2011-11-01
... program or the Railroad Retirement Act and certain others do not have to pay premiums for Medicare Part A... will pay for CY 2012 will be equal to the premium for uninsured aged enrollees reduced by 45 percent.... SUPPLEMENTARY INFORMATION: I. Background Section 1818 of the Social Security Act (the Act) provides for...
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Coal sulfur-premium models for SO2 allowance valuation
International Nuclear Information System (INIS)
Henry, J.B. II; Radulski, D.R.; Ellingson, E.G.; Engels, J.P.
1995-01-01
Clean Air Capital Markets, an investment bank structuring SO 2 Allowance transactions, has designed two allowance value models. The first forecasts an equilibrium allowance value based on coal supply and demand. The second estimates the sulfur premium of all reported coal deliveries to utilities. Both models demonstrate that the fundamental allowance value is approximately double current spot market prices for small volumes of off-system allowances
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Credit frictions, collateral and the cyclical behavior of the finance premium
Agénor, P.-R.; Bratsiotis, G.; Pfajfar, D.
This paper examines the behavior of the finance premium after technology and monetary shocks in a dynamic stochastic general equilibrium (DSGE) model where borrowers use a fraction of their production (output) as collateral. We show that this simple framework is capable of producing a
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76 FR 75829 - Treasury Inflation-Protected Securities Issued at a Premium
2011-12-05
... Treasury Inflation-Protected Securities Issued at a Premium AGENCY: Internal Revenue Service (IRS... IRS is issuing temporary regulations that provide guidance on the tax treatment of Treasury Inflation....1275-7(d) applies to Treasury Inflation-Protected Securities (TIPS) issued with more than a de minimis...
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On the common risk explanation of the size-related premiums
DEFF Research Database (Denmark)
de Oliveira Souza, Thiago
2018-01-01
to be marginally significant even in low risk states while the size premium is only significant in high risk states. This state dependence explains the out-of-sample R2 of around 29% for forecasts of the returns on the SMB portfolio, but only 7% for the HML portfolio compared to their historical means....
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Gregor Bäurle; Daniel Kaufmann
2014-01-01
We analyse nominal exchange rate and price dynamics after risk premium shocks with short-term interest rates constrained by the zero lower bound (ZLB). In a small-open-economy DSGE model, temporary risk premium shocks lead to shifts of the exchange rate and the price level if a central bank implements an inflation target by means of a traditional Taylor rule. These shifts are strongly amplified and become more persistent once the ZLB is included in the model. We also provide empirical support...
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Directory of Open Access Journals (Sweden)
Armin Müller
2016-01-01
Full Text Available In late 2002, the Chinese government launched an initiative to extend the coverage of health insurance in rural China with the New Rural Cooperative Medical System (NRCMS. It covered all of rural China by 2008 and is being continuously adapted and developed. This study explores two conflicting goals in the policy design: universal coverage and voluntary enrolment. Local governments often faced the problem that only insufficient numbers of villagers were enrolling voluntarily. They developed different strategies to cope with it: Complementary outpatient reimbursement via medical savings accounts (MSAs effectively transferred villagers’ premiums back to them, thus making the NRCMS more attractive. Adapting the premium-collection process to the local context or utilising collusive practices allowed them to pay premiums on behalf of the villagers from the insurance funds. These strategies undermine the effectiveness of the NRCMS as a risk-pooling mechanism, facilitate latent coverage gaps and turn it into a tax-funded service.
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Basilious, Alfred; Benavides Vargas, Ana Maria; Buys, Yvonne M
2017-08-01
To evaluate the publication rate of submitted abstracts accepted for presentation at the 2010 Canadian Ophthalmological Society (COS) Annual Meeting in peer-reviewed journals. A retrospective analysis and literature search of abstracts presented at the 2010 COS Annual Meeting. Abstracts accepted as an oral presentation or poster from the 2010 COS Annual Meeting were tabulated by type of presentation (oral vs poster), subspecialty, study design, number of authors, and principal investigator's institution. A PubMed search was conducted for each abstract by key word, first author, and last author. The year of publication, journal, and impact factor were recorded for identified publications. Publication rate was calculated by type of presentation, subspecialty, study design, number of authors, and institution. A total of 175 abstracts were presented at the 2010 COS Annual Meeting. There were 105 oral (60%) and 70 poster (40%) presentations. The overall publication rate was 45.7%; 49.5% for oral presentations and 40.0% for posters. Cornea (57.6%) and public health (54.5%) had the highest publication rates of all subspecialties. Randomized control trials (71.4%) and cohort studies (70.0%) had higher publication rates than other study designs. Overall, 28.8% of abstracts were published in the Canadian Journal of Ophthalmology. The average impact factor of all publications was 2.73. Of abstracts presented at the 2010 COS Annual Meeting, 45.7% were published within 5 years after the conference. This publication rate is within the upper end of previously reported meeting publication rates for medical societies. Copyright © 2017 Canadian Ophthalmological Society. Published by Elsevier Inc. All rights reserved.
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Premium copayments and the trade-off between wages and employer-provided health insurance.
Lubotsky, Darren; Olson, Craig A
2015-12-01
This paper estimates the trade-off between salary and health insurance costs using data on Illinois school teachers between 1991 and 2008 that allow us to address several common empirical challenges in this literature. Teachers paid about 17 percent of the cost of individual health insurance and about 46 percent of the cost of their family members' plans through premium contributions, but we find no evidence that teachers' salaries respond to changes in insurance costs. Consistent with a higher willingness to pay for insurance, we find that premium contributions are higher in districts that employ a higher-tenured workforce. We find no evidence that school districts respond to higher health insurance costs by reducing the number of teachers. Copyright © 2015 Elsevier B.V. All rights reserved.
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Determinan Nilai Pelanggan dan Implikasinya pada Dependensi Pelanggan Bengkel Suv Premium
Directory of Open Access Journals (Sweden)
Aditya Wardhana
2015-06-01
Full Text Available he implementation of ASEAN Economic Community (AEC for Indonesia making its big market more capitalized and and grow rapidly. The Indonesian automotive industrial market has become ASEAN’s biggest auto market. Automotive products in Indonesia is divided into two is a variant of commercial vehicles and passenger vehicle. Passenger vehicle is divided into three types namely: sedan, multi purpose vehicle (MPV, sport utility vehicle (SUV. The aim of this study is to investigate the determinants of customer value such as service quality and customer relationship management (CRM and its implications on customer dependence. This research using a method of survey with a number of population 63.015 customers and 400 respondents as customers at premium SUV authorized service station in urban areas in West Java with using slovin formula. Analysis of data using path analysis. The result of this research concluded that the service quality and customer relationship management influenced partially significant on the perceived value of customers of car workshop premium SUV.
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HIV, wages, and the skill premium.
Marinescu, Ioana
2014-09-01
The HIV epidemic has dramatically decreased labor supply among prime-age adults in Sub-Saharan Africa. Using within-country variation in regional HIV prevalence and a synthetic panel, I find that HIV significantly increases the capital-labor ratio in urban manufacturing firms. The impact of HIV on average wages is positive but imprecisely estimated. In contrast, HIV has a large positive impact on the skill premium. The impact of HIV on the wages of low skilled workers is insignificantly different from 0, and is strongly dampened by competition from rural migrants. The HIV epidemic disproportionately increases the incomes of high-skilled survivors, thus increasing inequality. Copyright © 2014 Elsevier B.V. All rights reserved.
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Directory of Open Access Journals (Sweden)
Hernández Solís, Montserrat
2013-01-01
Transforms" to justify the recommendation of Solvency II to reduce the effect of the mortality instantaneous rate and thus get an implicitly surcharged premium to deal deviations of actual claims regarding expected. Survival life insurance has been selected for this research, and the premium risk has been calculated for the four accepted laws of survival, such as the first and second Dormoy, Gomperzt law, and Makeham law. The selection of these laws has been taken because they best _t the model based on the numerical values assigned to the parameters by using mortality tables developed by Pérez (2000, Projected Table 2000 Spanish Mortality from 1950-1990. In the life insurance, coverage claims survival negative experience for the company means that the insured survive longer than expected (live longer. Thus, when calculating premiums, it is common practice to add a safety margin implied, as a percentage, the odds of death qx, or use a mortality table whose chances of passing are lower than those of the human being taken into account. This can be interpreted as a decrease of the mortality instantaneous rate. In this paper we show that the use of the distortion power function, so far uses in the non-life branch and being the new application to the life insurance, produces the same effect, but calculating a implicitly surcharged premium.
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2010-01-01
... Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Reemployed Annuitants and Survivor Annuitants... employed in a position that conveys FEHB eligibility and is covered by the premium conversion plan, you are...
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Adaptation and Assessment of a Public Speaking Rating Scale
Iberri-Shea, Gina
2017-01-01
Prominent spoken language assessments such as the Oral Proficiency Interview and the Test of Spoken English have been primarily concerned with speaking ability as it relates to conversation. This paper looks at an additional aspect of spoken language ability, namely public speaking. This study used an adapted form of a public speaking rating scale…
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Price volatility, hedging and variable risk premium in the crude oil market
International Nuclear Information System (INIS)
Ahmad Jalali-Naini; Maryam Kazemi Manesh
2006-01-01
The crude oil price exhibits a high degree of volatility which varies significantly over time. Such characteristics imply that the oil market is a promising area for testing volatility models. Testing and predicting volatility using ARCH and GARCH models have grown in the literature. A useful application of the volatility models is in the formulation of hedging strategies. In this paper we compare the optimal hedge ratio for the crude oil using the classical minimum risk approach and use ARCH to incorporate the effect of heteroskedasticity in the residuals on the hedge ratio. In addition, we test for the existence of a variable risk premium in the crude oil market. We find that, assuming rational expectations, there is a non-zero risk premium. We test for the variability of the risk premia and find evidence in its support when we employed a multivariate GARCH model. (author)
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Discounting in agro-industrial complex. A methodological proposal for risk premium
Energy Technology Data Exchange (ETDEWEB)
Marques-Perez, I.; Guaita-Pradas, I.; Pérez-Salas, J.L.
2017-09-01
The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC) in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities) and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.
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Discounting in agro-industrial complex. A methodological proposal for risk premium
Directory of Open Access Journals (Sweden)
Inmaculada Marques-Perez
2017-04-01
Full Text Available The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.
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Discounting in agro-industrial complex. A methodological proposal for risk premium
International Nuclear Information System (INIS)
Marques-Perez, I.; Guaita-Pradas, I.; Pérez-Salas, J.L.
2017-01-01
The estimation of the discount rate is decisive for a reliable economic valuation. The discount rate has to be adjusted for the risks related to the company, the sector which the company has its market, and the risks related to the investment project. We present a proposal to incorporate the risk premium to the discount rate. The novelty of the methodology is that difference risk groups according to activity as a factor to adjust the cost of capital to companies. The study applies the methodology to the Agro-Industrial Complex (AIC) in Spain. The AIC is formed by industries that add value to farming production. This sector’s economic success demands financial management techniques that assess risk. The conventional method responds neither to the heterogeneity of the economic activities that make up the AIC, nor to differentiating risk by groups. The proposed methodology distinguishes activity groups in accordance with the NACE (National Code of Economic Activities) and uses net profitability variability to distinguish the risk in each group. Our results demonstrate the various levels of risk per group. The results show that among all the groups that form the AIC there are wide differences between levels of risk; thus, the risk neutral groups present risk levels on the order of 150 times lower than the groups extreme risk levels.
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Fed Up with Rising Premiums, Colleges Go into the Insurance Business
June, Audrey William
2006-01-01
American universities are turning to captive companies, a highly specialized form of self-insurance, in an effort to cope with ever-increasing premiums. Indiana University formed the Old Crescent Insurance Company in 2005 to provide coverage for the institution's eight campuses, a move that gives it more control over costs while allowing the…
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Directory of Open Access Journals (Sweden)
Petrović Dragana
2017-01-01
Full Text Available Modern approach in determining the expected return of foreign investors' investments is based on the evaluation investment in capital asset-CAPM (Capital Asset Pricing Model. In order to use the CAPM model for calculating the expected return of foreign investors in growing economies, it is developed the extended model CAPM with the risk premium in the country. This variant of the CAPM model has been used for estimating the cost of capital. This is the expected return on a portfolio of the company's stocks in less developed countries. Those countries have certain problems and factors of risk investment. This research examines the limitations and shortcomings in the application of the extended model with country risk premium, during the calculation of the cost of capital in the less developed economies. We present possible models to overcome those problems and also a need for upgrading of modified CAPM model with a risk premium of the country which, beside risk of the country (CR must have a discount for the 'advantage of the country'.
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The Volatility of Long-term Bond Returns: Persistent Interest Shocks and Time-varying Risk Premiums
DEFF Research Database (Denmark)
Osterrieder, Daniela; Schotman, Peter C.
We develop a model that can match two stylized facts of the term-structure. The first stylized fact is the predictability of excess returns on long-term bonds. Modeling this requires sufficient volatility and persistence in the price of risk. The second stylized fact is that long-term yields...... are dominated by a level factor, which requires persistence in the spot interest rate. We find that a fractionally integrated process for the short rate plus a fractionally integrated specification for the price of risk leads to an analytically tractable almost affine term structure model that can explain...... the stylized facts. In a decomposition of long-term bond returns we find that the expectations component from the level factor is more volatile than the returns themselves. It therefore takes a volatile risk premium that is negatively correlated with innovations in the level factor to explain the volatility...
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The Optimal Interest Rates and the Current Interest Rate System
Directory of Open Access Journals (Sweden)
Ioannis N. Kallianiotis
2014-12-01
Full Text Available The paper discusses the current target interest rate, which is closed to zero with the new experiment of quantitative easing since 2009 and has reduced the rate of return and the income and has made the real savings rate negative. This target rate has not reduced unemployment and has not improved growth (it is not optimal, but has increased the debt of individuals and the low taxes on businesses have magnified the budget deficits and the national debt. People were borrowing the present value of their uncertain future wealth and their high debt and low income raise the risk and this high risk premium heighten the interest rate on loans, especially on credit cards. The current monetary system needs to be changed and an interest rate floor on deposits (savings and an interest rate ceiling on individuals‟ loans (borrowings is necessary to improve social welfare, fairness, and justice in our society and not to support only disintermediation (financial markets. The middle class cannot work only to pay taxes and interest on its debt (redistribution of their wealth to government and banks or worse to be in chronic unemployment. Many home owners defaulted on their loans payments and their homes are foreclosed. They will end up without property (real assets. The unconcern towards the middle class will affect negatively the entire socio-economic structure of the nation and after losing its productive power, it will start declining, as history has shown to us with so many empires that do not exist anymore. We hope the leaders (the democratic governments to improve public policies, to regulate the financial market and institutions, and to satisfy their policy ultimate objective, which is citizens‟ perfection and the nation‟s highest point of prosperity.
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Chan, Jannet W M; Graham, Colin A
2011-09-01
The publication rate of full text papers following an abstract presentation at a medical conference is variable, and few studies have examined the situation with respect to international emergency medicine conferences. This retrospective study aimed to identify the publication rate of abstracts presented at the 2006 International Conference on Emergency Medicine (ICEM) held in Halifax, Canada. The full text publication rate was 33.2%, similar to previous emergency medicine meetings. English language barriers may play a role in the low publication rate seen.
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On Mean-Variance Hedging of Bond Options with Stochastic Risk Premium Factor
Aihara, ShinIchi; Bagchi, Arunabha; Kumar, Suresh K.
2014-01-01
We consider the mean-variance hedging problem for pricing bond options using the yield curve as the observation. The model considered contains infinite-dimensional noise sources with the stochastically- varying risk premium. Hence our model is incomplete. We consider mean-variance hedging under the
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Improving publication rates in a collaborative clinical trials research network
Archer, Stephanie Wilson; Carlo, Waldemar A.; Truog, William E.; Stevenson, David K.; Van Meurs, Krisa P.; Sánchez, Pablo J.; Das, Abhik; Devaskar, Uday; Nelin, Leif D.; Petrie Huitema, Carolyn M.; Crawford, Margaret M.; Higgins, Rosemary D.
2016-01-01
Unpublished results can bias biomedical literature, favoring positive over negative findings, primary over secondary analyses, and can lead to duplicate studies that unnecessarily endanger subjects and waste resources. The Neonatal Research Network’s (NRN) publication policies for approving, reviewing, and tracking abstracts and papers work to combat these problems. In 2003, the NRN restricted investigators with unfinished manuscripts from proposing new ones and in 2010, urged authors to complete long-outstanding manuscripts. Data from 1991 to 2015 were analyzed to determine effectiveness of these policy changes. The NRN has achieved an overall publication rate of 78% for abstracts. For 1990–2002, of 137 abstracts presented, 43 (31%) were published within 2 years; for 2003–2009, after the manuscript completion policy was instituted, of 140 abstracts presented, 68 (49%) were published within 2 years. Following the effort in 2010, the rate increased to 64%. The NRN surpassed reported rates by developing a comprehensive process, holding investigators accountable and tracking abstracts from presentation to publication. PMID:27423510
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Publication Rate of Avian Medicine Conference Abstracts and Influencing Factors: 2011-2015.
Doukaki, Christina; MedVet, Dr; Beaufrère, Hugues; Vet, Dr Med; Huynh, Minh
2018-06-01
International conferences on avian medicine and surgery aim to disseminate scientific and evidence-based information in the form of oral presentations and posters. Most manuscripts presented are printed in the conference proceedings as abstracts. Subsequent publication in a scientific peer-reviewed journal is the natural outcome of the research cycle, although studies have shown that the vast majority of conference abstracts are not published. The purpose of this study was to explore 1) the fate of abstracts presented in avian conferences (Association of Avian Veterinarians, European Association of Avian Veterinarians, International Conference on Avian Herpetological and Exotic Mammal Medicine) in the years 2011-2015, 2) assess the publication rate in peer-reviewed journals, 3) describe the time course of subsequent publication, and 4) identify factors associated with increased likelihood of publication. The results showed that 24% of conference abstracts were published within the next 2 years. Depending on the statistical model used, several factors were identified as associated with increased publication rate. North American papers seem to publish with more frequency (univariate model), while European papers had the opposite trend (multivariable model). Likewise, experimental studies were more prone to being published overall (univariate model), whereas retrospective observational studies had a lower rate of publication (multivariable model). Increasing the number of authors was also associated with increased publication rate. Most publications were published in the Journal of Avian Medicine and Surgery, which tends to suggest that this journal is the main journal of the specialty. Some parameters highlighted in this study may assist conference attendees to assess the likelihood of later publication.
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2010-01-01
... Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Reemployed Annuitants and Survivor Annuitants... reemployed in a position that conveys FEHB eligibility and is covered by the premium conversion plan, you are...
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Bartoli, Nicla; Nielsen, Amalie
2014-01-01
This paper is meant to investigate the topic of Ethical Fashion implemented in Danish Fashion Premium Brands Companies. In order to have an almost complete scientific paper, the group decided to formulate the folowing problem formulation “What are the consequences for Danish Premium Brand Companies to incorporate Ethical Fashion in their company structure?” With three main research question: The first one is focusing on how Ethical Fashion is defined in the Danish fashion industry, in order t...
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Cornelius, Monica E; Driezen, Pete; Fong, Geoffrey T; Chaloupka, Frank J; Hyland, Andrew; Bansal-Travers, Maansi; Carpenter, Matthew J; Cummings, K Michael
2014-03-01
The purpose of this paper was to examine trends in the use of premium and discount cigarette brands and determine correlates of type of brand used and brand switching. Data from the International Tobacco Control (ITC) US adult smoker cohort survey were analysed. The total study sample included 6669 adult cigarette smokers recruited and followed from 2002 to 2011 over eight different survey waves. Each survey wave included an average of 1700 smokers per survey with replenishment of those lost to follow-up. Over the eight survey waves, a total of 260 different cigarette brands were reported by smokers, of which 17% were classified as premium and 83% as discount brands. Marlboro, Newport, and Camel were the most popular premium brands reported by smokers in our sample over all eight survey waves. The percentage of smokers using discount brands increased between 2002 and 2011, with a marked increase in brand switching from premium to discount cigarettes observed after 2009 corresponding to the $0.61 increase in the federal excise tax on cigarettes. Cigarette brand preferences varied by age group and income levels with younger, higher income smokers more likely to report smoking premium brand cigarettes, while older, middle and lower income, heavier smokers were more likely to report using discount brands. Our data suggest that demographic and smoking trends favour the continued growth of low priced cigarette brands. From a tobacco control perspective, the findings from this study suggest that governments should consider enacting stronger minimum pricing laws in order to keep the base price of cigarettes high, since aggressive price marketing will likely continue to be used by manufacturers to compete for the shrinking pool of remaining smokers in the population.
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THE INFLUENCE OF HYSTERESIS IN CONSUMER’S BEHAVIOUR FOR PREMIUM PRICE EVALUATION
Directory of Open Access Journals (Sweden)
Evgeny KRYUKOV
2014-10-01
Full Text Available The paper deals with an example of the manifestation of the hysteresis in consumers’ behaviour for the Latvian company operating on the market closest to oligopoly and having a local brand name. Based on the quota sample of 332 company stores consumers, their loyalty, willingness to pay for domestic cosmetic products and the propensity to buy habitual products were evaluated. In the survey the unfolding bracketing procedure is used. It is shown that the relationship between the number of loyal consumers and the product price depends on the price increase or decrease and has the form of a hysteresis loop. The width of the hysteresis loop depends on the pricing of a competing company. The range of the premium prices bringing a positive economic impact is determined. The obtained results confirm a considerable influence of the hysteresis effect on consumers’ sensitivity to price changes. The findings can be useful for managers in evaluating a possible revenue growth connected with the premium pricing strategy.
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Rules regarding the health insurance premium tax credit. Final and temporary regulations.
2014-07-28
This document contains final and temporary regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by the Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, and the Department of Defense and Full-Year Continuing Appropriations Act of 2011 and the 3% Withholding Repeal and Job Creation Act. These regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit, and Exchanges that make qualified health plans available to individuals. The text of the temporary regulations in this document also serves as the text of proposed regulations set forth in a notice of proposed rulemaking (REG-104579-13) on this subject in the Proposed Rules section in this issue of the Federal Register.
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Supporting the Energy Transition: the Role of Low Interest Rates
International Nuclear Information System (INIS)
Monnin, Pierre
2015-01-01
Low interest rates tend to favor 'green technologies' competitiveness while also increasing their cost volatility. Our analysis of the impact of interest rates on green energy technologies costs points to three key conclusions: - A low interest rate environment makes green energy technologies more competitive. Hydroelectric power is less expensive than any other technology across the entire spectrum of interest rate levels that we analyzed in this paper. Wind on-shore is competitive with all other technologies up until interest rates of about 8%. - Green energy technologies' LCOEs react more significantly to a change in interest rates than the LCOEs of brown energy technologies, implying a greater volatility for green energy technologies' costs in response to interest rate volatility. A higher volatility is damaging because it brings more uncertainty in investment decisions. As a result, stable interest rates are more beneficial for green energy investments than for brown energy investments. - In order to increase the ratio of green to brown energy investments, we can consider a discount on the interest rates for the former or a premium on interest rates for the latter. Our estimations indicate that, because interest rate changes have a greater impact on the costs of green energy technologies, a discount on green investments' interest rates would be more efficient than a premium on brown investments' interest rates. (author)
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Stock Market Integration: Are Risk Premiums of International Assets Equal?
Directory of Open Access Journals (Sweden)
Kusdhianto Setiawan
2014-02-01
Full Text Available This paper studies previous research on capital market integration and applies a simple international capital asset pricing model by considering the incompleteness in market integration and heteroscedasticity of the market returns. When we disregarded those two factors, we found that stock markets were integrated and the law of one price on risk premiums prevails. However, when the factors were considered, the markets were just partially integrated.
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A critical analysis of publication rates of national oncology meeting abstracts in Turkey
Directory of Open Access Journals (Sweden)
S. Kilickap
2018-04-01
Full Text Available Purpose: In this study our aim is to analyze the publication rates of abstracts, which were presented between 2006 and 2011 years in biennial National Cancer Meeting of Turkey (NCM and Turkish Medical Oncology Society Meeting (TMOSM and to determine the timely change of publication rates and to predict the quality of the abstracts. Methods: All abstracts, which are either accepted as podium or poster presentations in NCM and TMOM between 2006 and 2011, are extracted. Subsequent publication rate of those abstracts were defined by searching PubMed and Turkish Medical Index. Results: Between 2006 and 2011, overall 2451 abstracts were presented in annual NC and TMOS meetings. Of these 2451 abstracts, 286 of them (11.7% were published in consecutive years. Median publication interval was 11 months. While 28 of 286 (9.8% abstracts were published in national journals, 258 of them (90.2% were published in international journals. 97 of a total of 424 podium presentations (22.9% were published. The publication rate was correlated with the type of presentation (OP vs. PP: 22.9% vs. 9.3%, p < 0.001. The highest publication rate was for prospective studies (%14.4. Majority of abstracts (53.1% were published in journals indexed within the science citation index (SCI. Rest of the published abstracts were in index of SCI-expanded. Conclusions: Non-publication of research abstracts is a problem for 88.3% of abstracts of this study. The data presented in this study should lead abstract authors to criticize themselves and find a way to improve their study quality. Keywords: Abstract, Full-text, Manuscript, Peer-review, Publication rate
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Premium Pricing In Health Insurance By Nelson- Aalen Estimator
Istikaanah, Najmah
2011-01-01
In this paper the using of Nelson Aalen estimators are presented to estimate transition probabilities of multistate model. Based on discrete time Markov, we will get transition matrices?é?á which the elements are transition probabilities from Nelson Aalen estimator. Because of the data that used in the construction of transition matrices are person?óÔé¼Ôäós health histories, then it can be seen as a morbidity value, which can be used to premium pricing.?é?á
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5 CFR 892.205 - May I waive participation in premium conversion after the initial implementation?
2010-01-01
... PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.205 May I waive...
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The Eco-Efficiency Premium Puzzle
International Nuclear Information System (INIS)
Guenster, N.; Derwall, J.; Bauer, R.; Koedijk, K.
2004-09-01
Conventional investment theory suggests that socially responsible investing (SRI) leads to inferior, rather than superior, portfolio performance. Using Innovest's well-established corporate eco-efficiency scores, we provide evidence supporting the contrary. We compose two equity portfolios that differ in ecoefficiency characteristics and find that our high-ranked portfolio provided substantially higher average returns compared to its low-ranked counterpart over the period 1995-2003. Using a wide range of performance attribution techniques to address common methodological concerns, we show that this performance differential cannot be explained by differences in market sensitivity, investment style, or industry-specific components. We finally investigate whether this ecoefficiency premium puzzle withstands the inclusion of transaction costs scenarios, and evaluate how excess returns can be earned in a practical setting via a best-in-class stock selection strategy. The results remain significant under all levels of transactions costs, thus suggesting that the incremental benefits of SRI can be substantial
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Leatherdale, S T; Ahmed, R; Barisic, A; Murnaghan, D; Manske, S
2009-12-01
Given that little is known about the price-related cigarette brand preferences of youths, the current study seeks to characterise cigarette brand preferences and examine factors associated with smoking discount or native cigarette brands among Canadian youths who are current smokers. This study used nationally representative data collected from 71,003 grade 5-12 students as part of the 2006-7 Canadian Youth Smoking Survey (YSS). Using data from current smokers, logistic regression models were used to examine factors associated with smoking discount or native cigarette brands relative to premium cigarette brands. In 2006, premium cigarettes were the most prevalent brand of cigarette youths report usually smoking (49.4%); a substantial number of youths do report usually smoking either discount (12.9%) or native (9.3%) cigarette brands. Occasional smokers were more likely to report usually smoking premium cigarettes whereas daily smokers were more likely to report smoking either discount or native cigarettes. In particular, discount and native brands appear to be appealing among smoking youths with less spending money or those who are heavier smokers compared to youths smoking premium brands. Discount and native cigarette brands are commonly used by a substantial number of smoking youths in Canada. Additional research is required to better understand the reasons behind different cigarette brand preferences and how youths are able to access premium, discount and illicit native cigarettes. Moreover, ongoing surveillance of the cigarette brand preferences of youths is required for guiding future tobacco control policy and programming activities.
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Does the Shanghai-Hong Kong Stock Connect significantly affect the A-H premium of the stocks?
Hui, Eddie C. M.; Chan, Ka Kwan Kevin
2018-02-01
Since the Shanghai-Hong Kong Stock Connect ("the Connect") was launched in late 2014, more and more Mainland investors have invested in Hong Kong listed shares, and vice versa, increasing the transaction volume of the stock market on both sides. However, only a few studies investigated how the Shanghai-Hong Kong Stock Connect affected the pricing dynamics of stocks listed in both Shanghai and Hong Kong. Applying linear regression, this study investigates how the Connect affects the H-share discounts of 12 stocks cross-listed in Shanghai and Hong Kong. A new feature of our model is that we add a dummy variable so as to be the first study to examine the effect of the China financial crisis on the A-H premium of the stocks. We find that the A-H premium of all stocks widens significantly after the Connect is launched, implying immatureness or even inefficiency of China's financial market. Furthermore, the result shows that trading activities in the mainland market affects the A-H premium more significantly than trading activities in the Hong Kong market do. This implies that China's financial market plays a dominant role in the Connect.
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Sustainable development and public health: rating European countries
Directory of Open Access Journals (Sweden)
Seke Kristina
2013-01-01
Full Text Available Abstract Background Sustainable development and public health quite strongly correlate, being connected and conditioned by one another. This paper therein attempts to offer a representation of Europe’s current situation of sustainable development in the area of public health. Methods A dataset on sustainable development in the area of public health consisting of 31 European countries (formally proposed by the European Union Commission and EUROSTAT has been used in this paper in order to evaluate said issue for the countries listed thereof. A statistical method which synthesizes several indicators into one quantitative indicator has also been utilized. Furthermore, the applied method offers the possibility to obtain an optimal set of variables for future studies of the problem, as well as for the possible development of indicators. Results According to the results obtained, Norway and Iceland are the two foremost European countries regarding sustainable development in the area of public health, whereas Romania, Lithuania, and Latvia, some of the European Union’s newest Member States, rank lowest. The results also demonstrate that the most significant variables (more than 80% in rating countries are found to be “healthy life years at birth, females” (r2 = 0.880, “healthy life years at birth, males” (r2 = 0.864, “death rate due to chronic diseases, males” (r2 = 0.850, and “healthy life years, 65, females” (r2 = 0.844. Conclusions Based on the results of this paper, public health represents a precondition for sustainable development, which should be continuously invested in and improved. After the assessment of the dataset, proposed by EUROSTAT in order to evaluate progress towards the agreed goals of the EU Sustainable Development Strategy (SDS, this paper offers an improved set of variables, which it is hoped, may initiate further studies concerning this problem.
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Sustainable development and public health: rating European countries.
Seke, Kristina; Petrovic, Natasa; Jeremic, Veljko; Vukmirovic, Jovanka; Kilibarda, Biljana; Martic, Milan
2013-01-28
Sustainable development and public health quite strongly correlate, being connected and conditioned by one another. This paper therein attempts to offer a representation of Europe's current situation of sustainable development in the area of public health. A dataset on sustainable development in the area of public health consisting of 31 European countries (formally proposed by the European Union Commission and EUROSTAT) has been used in this paper in order to evaluate said issue for the countries listed thereof. A statistical method which synthesizes several indicators into one quantitative indicator has also been utilized. Furthermore, the applied method offers the possibility to obtain an optimal set of variables for future studies of the problem, as well as for the possible development of indicators. According to the results obtained, Norway and Iceland are the two foremost European countries regarding sustainable development in the area of public health, whereas Romania, Lithuania, and Latvia, some of the European Union's newest Member States, rank lowest. The results also demonstrate that the most significant variables (more than 80%) in rating countries are found to be "healthy life years at birth, females" (r2 = 0.880), "healthy life years at birth, males" (r2 = 0.864), "death rate due to chronic diseases, males" (r2 = 0.850), and "healthy life years, 65, females" (r2 = 0.844). Based on the results of this paper, public health represents a precondition for sustainable development, which should be continuously invested in and improved.After the assessment of the dataset, proposed by EUROSTAT in order to evaluate progress towards the agreed goals of the EU Sustainable Development Strategy (SDS), this paper offers an improved set of variables, which it is hoped, may initiate further studies concerning this problem.
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Williams, Benjamin R; Kunas, Grace C; Deland, Jonathan T; Ellis, Scott J
2017-01-01
National orthopaedic meetings are used to disseminate current research through podium and poster abstract presentations. Not all of these abstracts go on to full-text journal publication. The purpose of this study was to determine the publication rates of podium and poster presentations from the American Orthopaedic Foot & Ankle Society (AOFAS) annual meetings between 2008 and 2012. All accepted podium and poster abstracts from the 2008-2012 AOFAS annual meetings were compiled from the AOFAS office, Physician Resource Center website, and hardcopy meeting programs. PubMed and Google Scholar searches were performed for journal publications using key words in the presentation abstracts and authors' names. Full-text journal publication rates for the presentations were calculated per year, as were the most common journals of publication. Overall full-text publication rate was 73.7% for podium presentations and 55.8% for posters. Podium presentations were published in a journal significantly more often than posters ( P poster presentations, respectively ( P = .124). The most common journal for podium and poster publications was Foot & Ankle International. Podium abstracts were significantly more likely to be published compared to posters. The AOFAS overall full-text journal publication rate was one of the higher reported rates compared with other national orthopedic society meetings, which have ranged from 34% to 73%.
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LI, Yingnan
2015-01-01
This study is aimed to investigate whether brand image and customer willingness to pay a premium can be affected by co-creation. Co-creation now has been a crucial part in firm‟s new product or service development process and a major factor of firm‟s competitive advantage. However, regarding the correlations between co-creation, brand image and willingness to pay a premium, most previous studies focused on co-creation effects on service-intensive industries, whereas the effects...
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Cornelius, Monica E.; Driezen, Pete; Fong, Geoffrey T.; Chaloupka, Frank J.; Hyland, Andrew; Bansal-Travers, Maansi; Carpenter, Matthew J.; Cummings, K. Michael
2014-01-01
Objective The purpose of this paper was to examine trends in the use of premium and discount cigarette brands and determine correlates of type of brand used and brand switching. Methods Data from the International Tobacco Control (ITC) US adult smoker cohort survey were analyzed. The total study sample included 6669 adult cigarette smokers recruited and followed from 2002 to 2011 over eight different survey waves. Each survey wave included an average of 1700 smokers per survey with replenishment of those lost to follow-up. Results Over the eight survey waves, a total of 260 different cigarette brands were reported by smokers, of which 17% were classified as premium and 83% as discount brands. Marlboro, Newport, and Camel were the most popular premium brands reported by smokers in our sample over all eight survey waves. The percentage of smokers using discount brands increased between 2002 and 2011, with a marked increase in brand switching from premium to discount cigarettes observed after 2009 corresponding to the $0.61 increase in the federal excise tax on cigarettes. Cigarette brand preferences varied by age group and income levels with younger, higher income smokers more likely to report smoking premium brand cigarettes, while older, middle and lower income, heavier smokers were more likely to report using discount brands. Conclusions Our data suggest that demographic and smoking trends favor the continued growth of low priced cigarette brands. From a tobacco control perspective, the findings from this study suggest that governments should consider enacting stronger minimum pricing laws in order to keep the base price of cigarettes high, since aggressive price marketing will likely continue to be used by manufacturers to compete for the shrinking pool of remaining smokers in the population. PMID:24092600
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Does Intrinsic Habit Formation Actually Resolve the Equity Premium Puzzle?
David A. Chapman
2002-01-01
Constantinides (1990) describes a simple model of intrinsic habit formation that appears to resolve the "equity premium puzzle" of Mehra and Prescott (1985). This finding is particularly important, since it has motivated a broader consideration of the implications of habit formation preferences in dynamic equilibrium models. However, consumption growth actually behaves very differently pre- and post-1948, and the explanatory power of the habit formation model is driven by the pre-1948 data. U...
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2010-07-27
... closed to new entrants. These instructions parallel the benefit-accrual-freeze instructions. Make minor... its premium accounting system to handle the new data element. The collection of information under the...
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DEFF Research Database (Denmark)
Casas, Isabel; Mao, Xiuping; Veiga, Helena
This study explores the predictive power of new estimators of the equity variance risk premium and conditional variance for future excess stock market returns, economic activity, and financial instability, both during and after the last global financial crisis. These estimators are obtained from...... time-varying coefficient models are the ones showing considerably higher predictive power for stock market returns and financial instability during the financial crisis, suggesting that an extreme volatility period requires models that can adapt quickly to turmoil........ Moreover, a comparison of the overall results reveals that the conditional variance gains predictive power during the global financial crisis period. Furthermore, both the variance risk premium and conditional variance are determined to be predictors of future financial instability, whereas conditional...
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Cotes-Torres, Alejandro; Muñoz-Gallego, Pablo A; Cotes-Torres, José Miguel
2012-03-01
This paper explores 2 different probabilistic models explaining willingness to pay premium prices for high-quality cured products from the swine industry. Seven cured pork products (sausage, fuet, ham, loin, shoulder, salami and pepperoni) were studied in 9 food-stores in Valladolid, Spain. Consumers of the products were interviewed (686 completed surveys). It was found by using mixed effect statistical models that the relationship between willingness to pay a premium price and customer satisfaction had nonlinear behavior, following an S-shape with inverted slope which was the first empirical evidence of this type of behavior in meat products in real market conditions. It was also established that the interaction between satisfaction and current expenditure on the product was significant and indispensable for explaining consumers' willingness to pay premium price for cured pork products. Copyright © 2011 Elsevier Ltd. All rights reserved.
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Financial analysis of potential retrospective premium assessments under the Price-Anderson system
International Nuclear Information System (INIS)
Wood, R.S.
1985-04-01
Ten representative nuclear utilities have been analyzed over the period 1981 to 1983 to evaluate the effects of three levels of retrospective premiums on various financial indicators. This analysis continues and expands on earlier analyses prepared as background for deliberations by the US Congress for possible extension or modification of the Price-Anderson Act
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26 CFR 1.803-6 - Amortization of premium and accrual of discount.
2010-04-01
... amortization of premium and accrual of discount on bonds, notes, debentures, or other evidences of indebtedness... earliest call date specified therein as a day certain, the earliest interest payment date if it is callable or payable at such date, the earliest date at which it is callable at par, or such other call or...
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Surgeons' Perspectives on Premium Implants in Total Joint Arthroplasty.
Wasterlain, Amy S; Bello, Ricardo J; Vigdorchik, Jonathan; Schwarzkopf, Ran; Long, William J
2017-09-01
Declining total joint arthroplasty reimbursement and rising implant prices have led many hospitals to restrict access to newer, more expensive total joint arthroplasty implants. The authors sought to understand arthroplasty surgeons' perspectives on implants regarding innovation, product launch, costs, and cost-containment strategies including surgeon gain-sharing and patient cost-sharing. Members of the International Congress for Joint Reconstruction were surveyed regarding attitudes about implant technology and costs. Descriptive and univariate analyses were performed. A total of 126 surgeons responded from all 5 regions of the United States. Although 76.9% believed new products advance technology in orthopedics, most (66.7%) supported informing patients that new implants lack long-term clinical data and restricting new implants to a small number of investigators prior to widespread market launch. The survey revealed that 66.7% would forgo gain-sharing incentives in exchange for more freedom to choose implants. Further, 76.9% believed that patients should be allowed to pay incremental costs for "premium" implants. Surgeons who believed that premium products advance orthopedic technology were more willing to forgo gain-sharing (P=.040). Surgeons with higher surgical volume (P=.007), those who believed implant companies should be allowed to charge more for new technology (Pnew implants with patients. Many surgeons support alternative payment models permitting surgeons and patients to retain implant selection autonomy. Most respondents prioritized patient beneficence and surgeon autonomy above personal financial gain. [Orthopedics. 2017; 40(5):e825-e830.]. Copyright 2017, SLACK Incorporated.
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Longacre, Meghan R; Drake, Keith M; Titus, Linda J; Cleveland, Lauren P; Langeloh, Gail; Hendricks, Kristy; Dalton, Madeline A
2016-01-01
Fast food restaurants spend millions of dollars annually on child-targeted marketing, a substantial portion of which is allocated to toy premiums for kids' meals. The objectives of this study were to describe fast food toy premiums, and examine whether young children's knowledge of fast food toy premiums was associated with their fast food consumption. Parents of 3- to 5-year old children were recruited from pediatric and WIC clinics in Southern New Hampshire, and completed a cross-sectional survey between April 2013-March 2014. Parents reported whether their children usually knew what toys were being offered at fast food restaurants, and whether children had eaten at any of four restaurants that offer toy premiums with kids' meals (McDonald's, Burger King, Subway, Wendy's) during the 7 days preceding the survey. Seventy-one percent of eligible parents participated (N = 583); 48.4% did not receive any education beyond high school, and 27.1% of children were non-white. Half (49.7%) the children had eaten at one or more of the four fast food restaurants in the past week; one-third (33.9%) had eaten at McDonald's. The four restaurants released 49 unique toy premiums during the survey period; McDonald's released half of these. Even after controlling for parent fast food consumption and sociodemographics, children were 1.38 (95% CI = 1.04, 1.82) times more likely to have consumed McDonald's if they usually knew what toys were offered by fast food restaurants. We did not detect a relationship between children's toy knowledge and their intake of fast food from the other restaurants. In this community-based sample, young children's knowledge of fast food toys was associated with a greater frequency of eating at McDonald's, providing evidence in support of regulating child-directed marketing of unhealthy foods using toys. Copyright © 2015 Elsevier Ltd. All rights reserved.
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77 FR 15319 - Treasury Inflation-Protected Securities Issued at a Premium; Hearing Cancellation
2012-03-15
... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-130777-11] RIN 1545-BK45 Treasury Inflation-Protected Securities Issued at a Premium; Hearing Cancellation AGENCY: Internal Revenue...), providing guidance on the tax treatment of Treasury Inflation-Protected Securities issued with more than a...
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PUBLIC FINANCING OF HEALTHCARE SERVICES
Directory of Open Access Journals (Sweden)
Agnieszka Bem
2013-10-01
Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.
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Big and tall: Does a height premium dwarf an obesity penalty in the labor market?
Lee, Wang-Sheng
2017-11-01
Previous studies have shown that both height and weight are associated with wages. However, some gaps in our understanding of the relationship between body size and wages remain. For example, given a height premium and an obesity penalty, due to forces working in opposite directions, the current literature is unable to provide clear answers to questions such as whether a tall obese woman or a short healthy weight woman would earn a higher wage premium. Using Australian data and iso-contour wage curves derived from a semi-parametric wage regression model, this paper illustrates the complex nature of the relationship between height, weight and wages and how the nature of these differences depends on gender and age. As adult height is fixed, a key focus of the paper is illustrating for various height ranges whether there are any wage benefits in the labor market to increasing or decreasing one's weight. For individuals aged 25-54 as a whole, I find that there are strong effects of weight reduction at lower ends of the height distribution for females (between 1.50-1.70m) but not for males (men (>1.85m), a wage premium is found for being overweight. For relatively taller women (>1.72m), no penalty for being overweight is discernible. Copyright © 2017 Elsevier B.V. All rights reserved.
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77 FR 71481 - Publication of the Tier 2 Tax Rates
2012-11-30
... DEPARTMENT OF THE TREASURY Internal Revenue Service Publication of the Tier 2 Tax Rates AGENCY... tax rates for calendar year 2013 as required by section 3241(d) of the Internal Revenue Code (26 U.S.C. 3241). Tier 2 taxes on railroad employees, employers, and employee representatives are one source of...
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24 CFR 206.107 - Mortgagee election of assignment or shared premium option.
2010-04-01
... § 206.123(a)(2)-(5). (v) The mortgage is a first lien of record and title to the property securing the... under any of the circumstances described in § 206.123(a)(2)-(5). (b) No election for shared appreciation. Shared appreciation mortgages shall be insured by the Secretary only under the shared premium option. [54...
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Publication rates and characteristics of undergraduate medical theses in New Zealand.
Al-Busaidi, Ibrahim Saleh; Alamri, Yassar
2016-09-23
Publication in peer-reviewed journals is widely regarded as the preferred vehicle for research dissemination. In New Zealand, the fate and publication rates of theses produced by medical students is unknown. The aim of this study was to examine the frequency and characteristics of publications derived from research conducted by Bachelor of Medical Sciences (BMedSc(Hons)) students at the three campuses of the University of Otago Medical School, New Zealand. A total of 153 BMedSc(Hons) theses accepted at the Otago Medical School during the period of January 1995 to December 2014 were analysed. Using standardised search criteria, PubMed and Google Scholar databases were searched in October 2015 to examine the number and characteristics of publications. Overall, 50 (32.7%) out of 153 included theses resulted in 81 scientific publications. Ten (12.3%) publications featured in Australasian journals. The majority of publications were original articles (84%), with pathology and molecular biology (19%) being the most common research area. Although they did not reach statistical significance, publications in higher impact factor journals trended towards having a senior first author as opposed to a student first author (p=0.06). Although higher than reported figures from previous studies, publication rates of BMedSc(Hons) theses remain lower than expected. To improve our understanding of medical student publishing in New Zealand, formal examination of the factors hindering medical students from publishing their theses is imperative.
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Publication rates of presentations at the Irish Orthopaedic Association annual meeting.
LENUS (Irish Health Repository)
O'Neill, B J
2014-03-01
Presentation of scientific research at national and international meetings is an important forum for the dissemination of knowledge. Subsequent publication of a full-text paper in a peer-reviewed journal is the expected outcome of such presentations. The publication rate from these meetings is highly variable.
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29 CFR 778.206 - Premiums for work outside basic workday or workweek-examples.
2010-07-01
...-examples. 778.206 Section 778.206 Labor Regulations Relating to Labor (Continued) WAGE AND HOUR DIVISION... Overtime § 778.206 Premiums for work outside basic workday or workweek—examples. The effect of section 7(e... workday and workweek. Under one such agreement, for example, such workday and workweek are established as...
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Directory of Open Access Journals (Sweden)
Pilar Suñé
Full Text Available OBJECTIVES: Publication bias may affect the validity of evidence based medical decisions. The aim of this study is to assess whether research outcomes affect the dissemination of clinical trial findings, in terms of rate, time to publication, and impact factor of journal publications. METHODS AND FINDINGS: All drug-evaluating clinical trials submitted to and approved by a general hospital ethics committee between 1997 and 2004 were prospectively followed to analyze their fate and publication. Published articles were identified by searching Pubmed and other electronic databases. Clinical study final reports submitted to the ethics committee, final reports synopses available online and meeting abstracts were also considered as sources of study results. Study outcomes were classified as positive (when statistical significance favoring experimental drug was achieved, negative (when no statistical significance was achieved or it favored control drug and descriptive (for non-controlled studies. Time to publication was defined as time from study closure to publication. A survival analysis was performed using a Cox regression model to analyze time to publication. Journal impact factors of identified publications were recorded. Publication rate was 48·4% (380/785. Study results were identified for 68·9% of all completed clinical trials (541/785. Publication rate was 84·9% (180/212 for studies with results classified as positive and 68·9% (128/186 for studies with results classified as negative (p<0·001. Median time to publication was 2·09 years (IC95 1·61-2·56 for studies with results classified as positive and 3·21 years (IC95 2·69-3·70 for studies with results classified as negative (hazard ratio 1·99 (IC95 1·55-2·55. No differences were found in publication impact factor between positive (median 6·308, interquartile range: 3·141-28·409 and negative result studies (median 8·266, interquartile range: 4·135-17·157. CONCLUSIONS
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QUALITY PREMIUMS FOR AUSTRALIAN WHEAT IN THE GROWING ASIAN MARKETS
Ahmadi-Esfahani, Fredoun Z.; Stanmore, Roland G.
1994-01-01
An hedonic price function is applied to Australia's wheat exports to the growing Asian markets. The values for the quality characteristics in the wheat markets of Indonesia, Malaysia, Singapore, South Korea, and Thailand are estimated. The data base for the study is from the Australian Wheat Board shipments over the period 1984 to 1991. The sample is divided into two separate time periods to test the consistency in demand for export wheat and to trace recent trends in quality premiums. The im...
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The impact of inflation uncertainty on interest rates
Cheong, Chongcheul; Kim, Gi-Hong; Podivinsky, Jan M.
2010-01-01
In this paper, the impact of inflation uncertainty on interest rates is investigated for the case of the U.S. three-month Treasury bill rate. We emphasize how consistentOLS estimation can be applied to an empirical equation which includes a proxy variable of inflation uncertainty measured by an ARCH-type model. A significant negative relationship between the two variables is provided. This evidence is contrasted with the view of the inflation risk premium in which inflation uncertainty positi...
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A guide to understanding the variation in premiums in rural health insurance marketplaces.
Barker, Abigail R; McBride, Timothy D; Kemper, Leah M; Mueller, Keith
2014-05-01
Key Findings. (1) State-level decisions in implementing the Patient Protection and Affordable Care Act of 2010 (ACA) have led to significant state variation in the design of Health Insurance Marketplace (HIM) rating areas. In some designs, rural counties are grouped together, while in others, rural and urban counties have been deliberately mixed. (2) Urban counties have, on average, approximately one more firm participating in the marketplaces, representing about 11 more plan offerings, than rural counties have. (3) The highest-valued "platinum" plan types are less likely to be available in rural areas. Thus, the overall mix of plan types should be factored into the reporting of average premiums. (4) Levels of competition are likely to have a greater impact on the decisions of firms considering whether to operate in higher-cost areas or not, as those firms must determine how they can pass such costs on to consumers, conditional on the market share they are likely to control.
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Publication rates of otolaryngology theses from Turkey in peer-reviewed journals.
Kalcıoğlu, M Tayyar; Eğilmez, Oğuz Kadir; Karaca, Servet; Hanege, Fatih Mehmet; İleri, Yavuz
2016-01-01
This study aims to examine the publication or presentation rates of theses in scientific journals and scientific meetings in the field of otorhinolaryngology in Turkey. We randomly surveyed 2,705 specialists in the field of otorhinolaryngology in Turkey as of April 2014. Of these, 245 were applied a questionnaire on the continuation of their academic education, qualifications of the institutions where they were graduated from and worked and the status of their theses in terms of whether their theses were converted into a scientific article or presentation. Overall, 47.8% of the participants were still continuing their academic education, while 52.2% were not. The rate of the presentation of the theses at a national meeting was 58.4% and at an international meeting was 10.6%. The rates of publication in a national and international journal were 26.1% and 36.3%, respectively. As the physical and economic opportunities for experimental researches have increased, students have been encouraged to conduct researches and supportive solutions for the publication of theses have been created.
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Longacre, Meghan R.; Drake, Keith M.; Titus, Linda J.; Cleveland, Lauren P.; Langeloh, Gail; Hendricks, Kristy; Dalton, Madeline A.
2015-01-01
Fast food restaurants spend millions of dollars annually on child-targeted marketing, a substantial portion of which is allocated to toy premiums for kids’ meals. The objectives of this study were to describe fast food toy premiums, and examine whether young children’s knowledge of fast food toy premiums was associated with their fast food consumption. Parents of 3- to 5-year old children were recruited from pediatric and WIC clinics in Southern New Hampshire, and completed a cross-sectional survey between April 2013–March 2014. Parents reported whether their children usually knew what toys were being offered at fast food restaurants, and whether children had eaten at any of four restaurants that offer toy premiums with kids’ meals (McDonald’s, Burger King, Subway, Wendy’s) during the 7 days preceding the survey. Seventy-one percent of eligible parents participated (N=583); 48.4% did not receive any education beyond high school, and 27.1% of children were non-white. Half (49.7%) the children had eaten at one or more of the four fast food restaurants in the past week; one-third (33.9%) had eaten at McDonald’s. The four restaurants released 49 unique toy premiums during the survey period; McDonald’s released half of these. Even after controlling for parent fast food consumption and sociodemographics, children were 1.38 (95% CI=1.04, 1.82) times more likely to have consumed McDonald’s if they usually knew what toys were offered by fast food restaurants. We did not detect a relationship between children’s toy knowledge and their intake of fast food from the other restaurants. In this community-based sample, young children’s knowledge of fast food toys was associated with a greater frequency of eating at McDonald’s, providing evidence in support of regulating child-directed marketing of unhealthy foods using toys. PMID:26471803
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26 CFR 1.381(c)(9)-1 - Amortization of bond discount or premium.
2010-04-01
... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Amortization of bond discount or premium. 1.381(c)(9)-1 Section 1.381(c)(9)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Insolvency Reorganizations § 1.381(c)(9)-1 Amortization of...
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Alkaloid-derived molecules in low rank Argonne premium coals.
Energy Technology Data Exchange (ETDEWEB)
Winans, R. E.; Tomczyk, N. A.; Hunt, J. E.
2000-11-30
Molecules that are probably derived from alkaloids have been found in the extracts of the subbituminous and lignite Argonne Premium Coals. High resolution mass spectrometry (HRMS) and liquid chromatography mass spectrometry (LCMS) have been used to characterize pyridine and supercritical extracts. The supercritical extraction used an approach that has been successful for extracting alkaloids from natural products. The first indication that there might be these natural products in coals was the large number of molecules found containing multiple nitrogen and oxygen heteroatoms. These molecules are much less abundant in bituminous coals and absent in the higher rank coals.
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The Reallocation of Compensation in Response to Health Insurance Premium Increases
Dana P. Goldman; Neeraj Sood; Arleen Leibowitz
2003-01-01
This paper examines how compensation packages change when health insurance premiums rise. We use data on employee choices within a single large firm with a flexible benefits plan; an increasingly common arrangement among medium and large firms. In these companies, employees explicitly choose how to allocate compensation between cash and various benefits such as retirement, medical insurance, life insurance, and dental benefits. We find that a $1 increase in the price of health insurance leads...
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Energy Technology Data Exchange (ETDEWEB)
Aschmann, V.; Kissel, R.; Gronauer, A.
2007-07-15
Due to the climatic protection as well as shortage and raising the price of fossil fuels, a supply of a sustainable and future power supply is necessary. Therefore, the importance of the production of electricity and heat by means of premium cogeneration plants operated by fermentation gas increases. In the comparison to the conventional power production from fossil fuels, the utilization of fermentation gas reduces the release of climatic relevant gases. A compromise between high achievement and low emission with the burn of fermentation gas in premium cogeneration plants has to be established. It is the subject of the investigation of the contribution under consideration, to what extent this is feasible in practice.
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International Nuclear Information System (INIS)
Kitzing, Lena
2014-01-01
Different support instruments for renewable energy expose investors differently to market risks. This has implications on the attractiveness of investment. We use mean–variance portfolio analysis to identify the risk implications of two support instruments: feed-in tariffs and feed-in premiums. Using cash flow analysis, Monte Carlo simulations and mean–variance analysis, we quantify risk-return relationships for an exemplary offshore wind park in a simplified setting. We show that feed-in tariffs systematically require lower direct support levels than feed-in premiums while providing the same attractiveness for investment, because they expose investors to less market risk. These risk implications should be considered when designing policy schemes. - Highlights: • Mean–variance portfolio approach to analyse risk implications of policy instruments. • We show that feed-in tariffs require lower support levels than feed-in premiums. • This systematic effect stems from the lower exposure of investors to market risk. • We created a stochastic model for an exemplary offshore wind park in West Denmark. • We quantify risk-return, Sharpe Ratios and differences in required support levels
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Directory of Open Access Journals (Sweden)
Florian Lukas SEIZER
2017-05-01
Full Text Available Premium markets are expected to outperform other markets throughout the near future. Thus these markets are of high importance for marketers, who already face challenges to manage premium brands due to the hazard of a possible dilution of user’s sense of exclusivity and pride. Premium brand managers must know when it is best to take a pass on short-term growth opportunities that could tarnish the brand's long-term health. Line extensions embody one of the most frequently used vehicles for growth to meet global consumer needs. Though they have advantages, also risks are associated with them. Consequently, the purpose of this study is to identify the influence of line extensions on brand equity in culturally different spheres. The study focuses on premium brands from the automotive industry and asks if and in how far different – vertical (different price & quality level and horizontal (same price & quality level – line extension strategies influence brand equity differently among cultures. A one group pre-test post-test research design is used to measure brand equity before and after an existing brand’s (hypothetical extension. A structured online survey with page logic collected primary data from four hundred students in Germany and Thailand recruited by a matched sampling technique. Culture has to be added to brand equity models as results show distinctive changes of brand equity for both Germany and Thailand. While after vertical downscale extensions, brand equity increases in Germany, it decreases in Thailand. Hence, the research results in managerial recommendations which assess if product policy strategies should be thought ‘regionally’ or ‘globally’.
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75 FR 66271 - Assessment Dividends, Assessment Rates and Designated Reserve Ratio
2010-10-27
... sufficiently large fund and stable premiums is most apparent. Memories of the last two crises will fade and the... deposit and assessment base growth (using adjusted total domestic deposits). Implied forward interest... the analysis into the future, using estimates based on implied forward interest rates and assuming...
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Does debt ceiling and government shutdown help in forecasting the us equity risk premium?
Directory of Open Access Journals (Sweden)
Aye Goodness C.
2016-01-01
Full Text Available This article evaluates the predictability of the equity risk premium in the United States by comparing the individual and complementary predictive power of macroeconomic variables and technical indicators using a comprehensive set of 16 economic and 14 technical predictors over a monthly out-ofsample period of 1995:01 to 2012:12 and an in-sample period of 1986:01- 1994:12. In order to do so we consider, in addition to the set of variables used in Christopher J. Neely et al. (2013 and using a more recent dataset, the forecasting ability of two other important variables namely government shutdown and debt ceiling. Our results show that one of the newly added variables namely government shutdown provides statistically significant out-of-sample predictive power over the equity risk premium relative to the historical average. Most of the variables, including government shutdown, also show significant economic gains for a risk averse investor especially during recessions.
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Publication in honour of Ernst Klingmueller
International Nuclear Information System (INIS)
Hauss, F.; Schmidt, R.
1974-01-01
A short historical survey is given on the development of nuclear insurance in the FRG since the foundation of the DKVG (Deutsche Kernreaktor-Versicherungsgemeinschaft) in May 1957 and after amending and increasing the financial security. At present, 104 private and public undertakings, primary and re-insurers, belong to the DKVG. With the DKVG's underwriting capacity for own account at 112 million DM for property insurance and at 51 million DM for liability insurance, 500-600 million DM property insurance per facility and up to 200 million DM liability insurance can be made available to the German nuclear facilities, calling upon various foreign atomic pools as re-insurers. Recently the DKVG and its members are particularly concerned with two interconnected complexes of problems: the growing demands made on the underwriting power of the pools owing to the increased power rate of the reactors, and the accumulation of sufficient reserves while the premium income is relatively low due to a still low number of insured reactors, and, for the time being, low damage claims at unusually high retention sums. (HP/LN) [de
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Glied, Sherry; Solís-Román, Claudia; Parikh, Shivani
2016-09-01
One important benefit gained by the millions of Americans with health insurance through the Affordable Care Act (ACA) is protection from high out-of-pocket health spending. While Medicaid unambiguously reduces out-of-pocket premium and medical costs for low-income people, it is less certain that marketplace coverage and other types of insurance purchased to comply with the law's individual mandate also protect from high health spending. Goal: To compare out-of-pocket spending in 2014 to spending in 2013; assess how this spending changed in states where many people enrolled in the marketplaces relative to states where few people enrolled; and project the decline in the percentage of people paying high amounts out-of-pocket. Methods: Linear regression models were used to estimate whether people under age 65 spent above certain thresholds. Key findings and conclusions: The probability of incurring high out-of-pocket costs and premium expenses declined as marketplace enrollment increased. The percentage reductions were greatest among those with incomes between 250 percent and 399 percent of poverty, those who were eligible for premium subsidies, and those who previously were uninsured or had very limited nongroup coverage. These effects appear largely attributable to marketplace enrollment rather than to other ACA provisions or to economic trends.
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Publicly Reported Wound Healing Rates: The Fantasy and the Reality
Fife, Caroline E.; Eckert, Kristen A.; Carter, Marissa J.
2018-01-01
Significance: We compare real-world data from the U.S. Wound Registry (USWR) with randomized controlled trials and publicly reported wound outcomes and develop criteria for honest reporting of wound outcomes, a requirement of the new Quality Payment Program (QPP). Recent Advances: Because no method has existed by which wounds could be stratified according to their likelihood of healing among real-world patients, practitioners have reported fantastically high healing rates. The USWR has developed several risk-stratified wound healing quality measures for diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs) as part of its Qualified Clinical Data Registry (QCDR). This allows practitioners to report DFU and VLU healing rates in comparison to the likelihood of whether the wound would have healed. Critical Issues: Under the new QPP, practitioners must report at least one practice-relevant outcome measure, and it must be risk adjusted so that clinicians caring for the sickest patients do not appear to have worse outcomes than their peers. The Wound Healing Index is a validated risk-stratification method that can predict whether a DFU or VLU will heal, leveling the playing field for outcome reporting and removing the need to artificially inflate healing rates. Wound care practitioners can report the USWR DFU and VLU risk-stratified outcome measure to satisfy the quality reporting requirements of the QPP. Future Directions: Per the requirements of the QPP, the USWR will begin publicly reporting of risk-stratified healing rates once quality measure data have met the reporting standards of the Centers for Medicare and Medicaid Services. Some basic rules for data censoring are proposed for public reporting of healing rates, and others are needed, which should be decided by consensus among the wound care community. PMID:29644145
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2010-05-20
... recent date that the plan became closed to new entrants. These instructions parallel the benefit-accrual... change until 2012 to provide time to modify its premium accounting system to handle the new data element...
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Shaw, Jana; Tserenpuntsag, Boldtsetseg; McNutt, Louise-Anne; Halsey, Neal
2014-07-01
To compare medical, religious, and personal belief immunization exemption rates between private and public schools in US. Exemption rates were calculated using the Centers for Disease Control and Prevention School Immunization Assessment Surveys for the 2009-2010 school year excluding states with incomplete survey data. Standardized exemption rates weighted on enrollments in public and private schools were calculated. Differences in exemption rates between public and private schools were tested using Wilcoxon signed rank test. The overall state exemption rate was higher in US private than public schools, 4.25% (SD 4.27) vs 1.91% (1.67), P = .0001 and private schools had higher exemption rates for all types of exemptions; medical 0.58% (0.71) vs 0.34% (0.34) respectively (P = .0004), religious 2.09% (3.14) vs 0.83% (1.05) respectively (P = .0001), and personal belief 6.10% (4.12) vs 2.79% (1.57), respectively (P = .006). Overall exemption rates were significantly higher in states that allowed personal belief exemptions. Exemption rates were significantly higher in US private than in public schools. Children attending private schools may be at higher risk of vaccine-preventable diseases than public school children. Copyright © 2014 Elsevier Inc. All rights reserved.
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Covered Interest Parity, Uncovered Interest Parity, and Exchange Rate Dynamics
Eaton, Jonathan; Turnovsky, Stephen J.
1981-01-01
A number of macroeconomic models of open economies under flexible exchange rate assume a strong version of perfect capital mobility which implies that currency speculation commands no risk premium. If this assumption is dropped a number of important results no longer obtain. First, the exchange rate and interest rate cannot be in steady state unless both the government deficit and current account equal zero, not simply their sum, as would otherwise be the case. Second, even in steady state th...
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Spending the Primary Physical Education and Sport Premium: A West Midlands Case Study
Griggs, Gerald
2016-01-01
In March 2013 the government announced that it was to provide funding to improve provision of Physical Education and sport in primary schools in England. Entitled The Primary Physical Education and Sport Premium, this ring-fenced annual funding has been allocated to schools that are free to choose how the money is spent but are accountable for its…
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Estimating consumer willingness to pay a price premium for Alaska secondary wood products.
Geoffrey H. Donovan; David L. Nicholls
2003-01-01
Dichotomous choice contingent valuation survey techniques were used to estimate mean willingness to pay (WTP) a price premium for made-in-Alaska secondary wood products. Respondents were asked to compare two superficially identical end tables, one made in China and one made in Alaska. The surveys were administered at home shows in Anchorage, Fairbanks, and Sitka in...
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Medicaid Waivers and Public Sector Mental Health Service Penetration Rates for Youth.
Graaf, Genevieve; Snowden, Lonnie
2018-01-22
To assist families of youth with serious emotional disturbance in financing youth's comprehensive care, some states have sought and received Medicaid waivers. Medicaid waivers waive or relax the Medicaid means test for eligibility to provide insurance coverage to nonpoor families for expensive, otherwise out-of-reach treatment for youth with Serious Emotional Disturbance (SED). Waivers promote treatment access for the most troubled youth, and the present study investigated whether any of several Medicaid waiver options-and those that completely omit the means test in particular-are associated with higher state-wide public sector treatment penetration rates. The investigators obtained data from the U.S. Census, SAMHSA's Uniform Reporting System, and the Centers for Medicare and Medicaid Services. Analysis employed random intercept and random slope linear regression models, controlling for a variety of state demographic and fiscal variables, to determine whether a relationship between Medicaid waiver policies and state-level public sector penetration rates could be observed. Findings indicate that, whether relaxing or completely waiving Medicaid's qualifying income limits, waivers increase public sector penetration rates, particularly for youth under age 17. However, completely waiving Medicaid income limits did not uniquely contribute to penetration rate increases. States offering Medicaid waivers that either relax or completely waive Medicaid's means test to qualify for health coverage present higher public sector treatment rates for youth with behavioral health care needs. There is no evidence that restricting the program to waiving the means test for accessing Medicaid would increase treatment access. (PsycINFO Database Record (c) 2018 APA, all rights reserved).
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Public sector pay gap in Serbia during large-scale privatisation, by educational qualification
Directory of Open Access Journals (Sweden)
Laušev Jelena
2012-01-01
Full Text Available The paper explores the effect of large-scale privatization of public sector activities on public-private sector pay differential, for groups of workers according to educational qualification on average and across the pay distribution in Serbia, from 2004 until 2008. The paper finds that both unskilled and skilled men and women in the public sector saw significant improvements in their financial position relative to their private sector counterparts with the progress of the economic transition. The results showed that the size of the public sector pay premium declines both with higher educational level and higher percentile of earnings distribution. This indicates, between and within groups, the inequality-reducing feature of the public sector pay determination.
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Analyzing Four-Year Public University and Two-Year College Graduation Rates
Ober, David R.; Beekman, John A.; Pierce, Rebecca L.
2018-01-01
This paper examines the graduation rates between 2000 and 2015 of United States colleges and universities at the national, state, and institutional levels. This research focuses on two-year and four-year programs. Rates are investigated longitudinally along with variables that distinguish between public/private institutions, percentages of…
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The Reaction of Private Spending and Market Interest Rates to the Changes in Public Spending
Directory of Open Access Journals (Sweden)
Przekota Grzegorz
2016-01-01
Full Text Available Expansionary fiscal policy is mired in controversy. Its proponents suggest that during recession, it stimulates investors’ activity and has a stabilizing effect on economic growth. However, its opponents point to the costs associated with the budget deficit and public debt handling. Increased public spending may result in an increase in the interest rates, which may, in turn, hinder private investment and weaken the multiplier effect of public spending. The following study examines how private spending and market interest rates reacted to changes in public spending in Poland. The study has shown that public spending stimulates private spending, which is consistent with the Keynesian model, but it also leads to an increase in market interest rates, which is consistent with the neoclassical model.
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External dose-rate conversion factors for calculation of dose to the public
Energy Technology Data Exchange (ETDEWEB)
1988-07-01
This report presents a tabulation of dose-rate conversion factors for external exposure to photons and electrons emitted by radionuclides in the environment. This report was prepared in conjunction with criteria for limiting dose equivalents to members of the public from operations of the US Department of Energy (DOE). The dose-rate conversion factors are provided for use by the DOE and its contractors in performing calculations of external dose equivalents to members of the public. The dose-rate conversion factors for external exposure to photons and electrons presented in this report are based on a methodology developed at Oak Ridge National Laboratory. However, some adjustments of the previously documented methodology have been made in obtaining the dose-rate conversion factors in this report. 42 refs., 1 fig., 4 tabs.
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Aberare, Ogbevire L; Okuonghae, Patrick; Mukoro, Nathaniel; Dirisu, John O; Osazuwa, Favour; Odigie, Elvis; Omoregie, Richard
2011-06-01
Deliberate and regular exposure to premium motor spirit fumes is common and could be a risk factor for liver disease in those who are occupationally exposed. A possible association between premium motor spirit fumes and plasma levels of triglyceride, total cholesterol, high density lipoprotein cholesterol and low density lipoprotein cholesterol using a rodent model could provide new insights in the pathology of diseases where cellular dysfunction is an established risk factor. The aim of this study was to evaluate the possible effect of premium motor spirit fumes on lipids and lipoproteins in workers occupationally exposed to premium motor spirit fumes using rodent model. Twenty-five Wister albino rats (of both sexes) were used for this study between the 4(th) of August and 7(th) of September, 2010. The rats were divided into five groups of five rats each. Group 1 rats were not exposed to premium motor spirit fumes (control group), group 2 rats were exposed for 1 hour daily, group 3 for 3 hours daily, group 4 for 5 hours daily and group 5 for 7 hours daily. The experiment lasted for a period of 4 weeks. Blood samples obtained from all the groups after 4 weeks of exposure were used for the estimation of plasma levels of triglyceride, total cholesterol, high density lipoprotein- cholesterol and low density lipoprotein- cholesterol. Results showed significant increase in means of plasma total cholesterol and low density lipoprotein levels (P<0.05). The mean triglyceride and total body weight were significantly lower (P<0.05) in the exposed group when compared with the unexposed. The plasma level of high density lipoprotein, the ratio of low density lipoprotein to high density lipoprotein and the ratio of total cholesterol to high density lipoprotein did not differ significantly in exposed subjects when compared with the control group. These results showed that frequent exposure to petrol fumes may be highly deleterious to the liver cells.
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Real exchange rate persistence and the excess return puzzle
DEFF Research Database (Denmark)
Juselius, Katarina; Assenmacher, Katrin
2017-01-01
The PPP puzzle refers to the wide swings of nominal exchange rates around their long-run equilibrium values whereas the excess return puzzle represents the persistent deviation of the domestic-foreign interest rate differential from the expected change in the nominal exchange rate. Using the I(2......) cointegrated VAR model, much of the excess return puzzle disappears when an uncertainty premium in the foreign exchange market, proxied by the persistent PPP gap, is introduced. Self-reinforcing feedback mechanisms seem to cause the persistence in the Swiss-US parity conditions. These results support imperfect...
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THE IMPACT ON WOMEN ON THE REMOVAL OF GENDER AS A RATING VARIABLE IN MOTOR-VEHICLE INSURANCE
Directory of Open Access Journals (Sweden)
Anthea Natalie Wagener
2013-04-01
Full Text Available Insurers use actuarial statistics as rating variables to differentiate and distinguish for the purposes of risk classification. They justify their use of actuarial statistics due to its accuracy as a predictor of risk. South African motor-vehicle insurers use gender, inter alia, as a rating variable to classify risks into certain classes and to determine insurance premiums. Depending upon whether the insured is male or female, it could have a significant impact on the cost of his or her premium. Women drivers pay less for motor-vehicle insurance because actuarial statistics indicate that women are more careful drivers and are involved in 20 per cent fewer accidents than men. Men pay higher premiums because the statistics indicate that they are less responsible drivers than women.Should a South African court decide that the use of gender as a motor-vehicle insurance rating variable is unfair discrimination, this would benefit male drivers, as it would lower their premium. Women, on the other hand, would be disadvantaged as they would be required to pay higher premiums to subsidise men. The article examines the impact that the removal of gender as a rating variable in motor-vehicle insurance would have on women, and asks if the effects thereof would influence a South African Court’s decision in determining if the use of gender as a rating variable amounts to unfair discrimination. The article first considers the findings of American and Canadian Courts in determining this same issue and then considers South African equality legislation, particularly the Promotion of Equality and Prevention of Unfair Discrimination Act 4 of 2000 (“the Equality Act”. Thereafter, the article provides recommendations for a South African Court. As the Equality Act indicates that the discriminatory insurance practice of placing a disadvantage or advantage on persons based inter alia on their gender may possibly be unfair, it is suggested that South African
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Assessment of plutonium security effect using import premium method
International Nuclear Information System (INIS)
Ohkubo, Hiroo; Aoyagi, Tadashi; Kikuchi, Masahiro; Suzuki, Atsuyuki.
1994-01-01
A mathematical formulation was developed to describe the concept of import premium method, which can quantify a security effect of demand reduction of imports by introducing the alternative before its supply disruption (or variation) may happen. Next, by using this formula, a security value of plutonium use (especially, fast breeder reactor), defined as a contributor to reduction of possibilities of disruption (or variation) of natural uranium supply was estimated. From these studies, it is concluded that although the formula proposed here is simplified, it may be available for assessing an energy security if only we prepare the data concerning future motions of supply and demand curves. (author)
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Ermolieva, T; Filatova, T; Ermoliev, Y; Obersteiner, M; de Bruijn, K M; Jeuken, A
2017-01-01
As flood risks grow worldwide, a well-designed insurance program engaging various stakeholders becomes a vital instrument in flood risk management. The main challenge concerns the applicability of standard approaches for calculating insurance premiums of rare catastrophic losses. This article focuses on the design of a flood-loss-sharing program involving private insurance based on location-specific exposures. The analysis is guided by a developed integrated catastrophe risk management (ICRM) model consisting of a GIS-based flood model and a stochastic optimization procedure with respect to location-specific risk exposures. To achieve the stability and robustness of the program towards floods with various recurrences, the ICRM uses stochastic optimization procedure, which relies on quantile-related risk functions of a systemic insolvency involving overpayments and underpayments of the stakeholders. Two alternative ways of calculating insurance premiums are compared: the robust derived with the ICRM and the traditional average annual loss approach. The applicability of the proposed model is illustrated in a case study of a Rotterdam area outside the main flood protection system in the Netherlands. Our numerical experiments demonstrate essential advantages of the robust premiums, namely, that they: (1) guarantee the program's solvency under all relevant flood scenarios rather than one average event; (2) establish a tradeoff between the security of the program and the welfare of locations; and (3) decrease the need for other risk transfer and risk reduction measures. © 2016 Society for Risk Analysis.
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Long-run interest rate convergence in Poland and the EMU
Łukasz Goczek; Dagmara Mycielska
2013-01-01
The aim of the article is to examine the degree of the long-run interest rate convergence in the context of Poland's joining the EMU. In this perspective, it is frequently argued that the expectations of Poland's participation in the EMU should manifest themselves in long-run interest rate convergence. This should be visible in the long-run fall of interest rate risk premium in Poland. In contrast, the paper raises the question of the actual speed of such convergence and questions the existen...
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ASSESSMENT OF COMBINED HEAT AND POWER SYSTEM"PREMIUM POWER" APPLICATIONS IN CALIFORNIA
Energy Technology Data Exchange (ETDEWEB)
Norwood, Zack; Lipman, Timothy; Stadler, Michael; Marnay, Chris
2010-06-01
The effectiveness of combined heat and power (CHP) systems for power interruption intolerant,"premium power," facilities is the focus of this study. Through three real-world case studies and economic cost minimization modeling, the economic and environmental performance of"premium power" CHP is analyzed. The results of the analysis for a brewery, data center, and hospital lead to some interesting conclusions about CHP limited to the specific CHP technologies installed at those sites. Firstly, facilities with high heating loads prove to be the most appropriate for CHP installations from a purely economic standpoint. Secondly, waste heat driven thermal cooling systems are only economically attractive if the technology for these chillers can increase above the current best system efficiency. Thirdly, if the reliability of CHP systems proves to be as high as diesel generators they could replace these generators at little or no additional cost if the thermal to electric (relative) load of those facilities was already high enough to economically justify a CHP system. Lastly, in terms of greenhouse gas emissions, the modeled CHP systems provide some degree of decreased emissions, estimated at approximately 10percent for the hospital, the application with the highest relative thermal load in this case
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Wolfenden, Luke; Milat, Andrew J; Lecathelinais, Christophe; Skelton, Eliza; Clinton-McHarg, Tara; Williams, Christopher; Wiggers, John; Chai, Li Kheng; Yoong, Sze Lin
2016-12-01
The aim of this study was to describe the research output and citation rates (academic impact) of public health dissemination and implementation research according to research design and study type. A cross sectional bibliographic study was undertaken in 2013. All original data-based studies and review articles focusing on dissemination and implementation research that had been published in 10 randomly selected public health journals in 2008 were audited. The electronic database 'Scopus' was used to calculate 5-year citation rates for all included publications. Of the 1648 publications examined, 216 were original data-based research or literature reviews focusing on dissemination and implementation research. Of these 72% were classified as descriptive/epidemiological, 26% were intervention and just 1.9% were measurement research. Cross-sectional studies were the most common study design (47%). Reviews, randomized trials, non-randomized trials and decision/cost-effectiveness studies each represented between 6 and 10% of all output. Systematic reviews, randomized controlled trials and cohort studies were the most frequently cited study designs. The study suggests that publications that had the greatest academic impact (highest citation rates) made up only a small proportion of overall public health dissemination and implementation research output.
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2015-12-18
This document contains final regulations on the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by the Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, and the Department of Defense and Full-Year Continuing Appropriations Act, 2011. These final regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges, sometimes called Marketplaces) and claim the health insurance premium tax credit, and Exchanges that make qualified health plans available to individuals and employers.
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The impact of the total tax rate reduction on public services provided in Romania
Directory of Open Access Journals (Sweden)
Adina TRANDAFIR
2014-09-01
Full Text Available Against the background of economic globalization, governments tend to take tax measures disadvantageous to society in order to increase the attractiveness of the business environment. A common measures for this purpose is the reduction in tax rate. According to the classical theory of tax competition such measure leads to under the provision of public goods. This article aims to show, through an econometric analysis, whether in Romania, in the period 2006-2013, reducing total tax rate had a negative impact on public services. For this, using linear regression technique, the article analysed the correlation between total tax rate and the variation in the share of the main public service spending in GDP.
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What health plans do people prefer? The trade-off between premium and provider choice.
Determann, Domino; Lambooij, Mattijs S; de Bekker-Grob, Esther W; Hayen, Arthur P; Varkevisser, Marco; Schut, Frederik T; Wit, G Ardine de
2016-09-01
Within a healthcare system with managed competition, health insurers are expected to act as prudent buyers of care on behalf of their customers. To fulfil this role adequately, understanding consumer preferences for health plan characteristics is of vital importance. Little is known, however, about these preferences and how they vary across consumers. Using a discrete choice experiment (DCE) we quantified trade-offs between basic health plan characteristics and analysed whether there are differences in preferences according to age, health status and income. We selected four health plan characteristics to be included in the DCE: (i) the level of provider choice and associated level of reimbursement, (ii) the primary focus of provider contracting (price, quality, social responsibility), (iii) the level of service benefits, and (iv) the monthly premium. This selection was based on a literature study, expert interviews and focus group discussions. The DCE consisted of 17 choice sets, each comprising two hypothetical health plan alternatives. A representative sample (n = 533) of the Dutch adult population, based on age, gender and educational level, completed the online questionnaire during the annual open enrolment period for 2015. The final model with four latent classes showed that being able to choose a care provider freely was by far the most decisive characteristic for respondents aged over 45, those with chronic conditions, and those with a gross income over €3000/month. Monthly premium was the most important choice determinant for young, healthy, and lower income respondents. We conclude that it would be very unlikely for half of the sample to opt for health plans with restricted provider choice. However, a premium discount up to €15/month by restricted health plans might motivate especially younger, healthier, and less wealthy consumers to choose these plans. Copyright © 2016 Elsevier Ltd. All rights reserved.
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Ermolieva, T.; Filatova, Tatiana; Ermoliev, Y.; Obersteiner, M.; de Bruijn, K.M.; Jeuken, A.
2017-01-01
As flood risks grow worldwide, a well-designed insurance program engaging various stakeholders becomes a vital instrument in flood risk management. The main challenge concerns the applicability of standard approaches for calculating insurance premiums of rare catastrophic losses. This article
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Marital Wage Premium or Ability Selection? The Case of Taiwan 1979-2003
Anthony Stair
2007-01-01
The study of factors determining wages has been an important topic in the field of labor and family economics in the past few decades. Among different factors that account for individual wage differentials, marital status has received special attention. There are at least two competing hypotheses that explain the male marriage premium: the specialization hypothesis and the selection hypothesis. Using the Taiwan Quasi Longitudinal Data Archive (1979-2003), my estimation results support the sel...
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5 CFR 550.143 - Bases for determining positions for which premium pay under § 550.141 is authorized.
2010-01-01
... PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS PAY ADMINISTRATION (GENERAL) Premium Pay Regularly Scheduled... requirement must be definite and the employee must be officially ordered to remain at his station. The...
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Engineering development of advanced physical fine coal cleaning for premium fuel applications
International Nuclear Information System (INIS)
1997-01-01
Bechtel, together with Amax Research and Development Center (Amax R ampersand D), has prepared this study which provides conceptual cost estimates for the production of premium quality coal-water slurry fuel (CWF) in a commercial plant. Two scenarios are presented, one using column flotation technology and the other the selective agglomeration to clean the coal to the required quality specifications. This study forms part of US Department of Energy program Engineering Development of Advanced Physical Fine Coal Cleaning for Premium Fuel Applications, (Contract No. DE-AC22- 92PC92208), under Task 11, Project Final Report. The primary objective of the Department of Energy program is to develop the design base for prototype commercial advanced fine coal cleaning facilities capable of producing ultra-clean coals suitable for conversion to stable and highly loaded CWF. The fuels should contain less than 2 lb ash/MBtu (860 grams ash/GJ) of HHV and preferably less than 1 lb ash/MBtu (430 grams ash/GJ). The advanced fine coal cleaning technologies to be employed are advanced column froth flotation and selective agglomeration. It is further stipulated that operating conditions during the advanced cleaning process should recover not less than 80 percent of the carbon content (heating value) in the run-of-mine source coal. These goals for ultra-clean coal quality are to be met under the constraint that annualized coal production costs does not exceed $2.5 /MBtu ($ 2.37/GJ), including the mine mouth cost of the raw coal. A further objective of the program is to determine the distribution of a selected suite of eleven toxic trace elements between product CWF and the refuse stream of the cleaning processes. Laboratory, bench-scale and Process Development Unit (PDU) tests to evaluate advanced column flotation and selective agglomeration were completed earlier under this program with selected coal samples. A PDU with a capacity of 2 st/h was designed by Bechtel and installed at
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Pricing Equity-Indexed Annuities under Stochastic Interest Rates Using Copulas
Directory of Open Access Journals (Sweden)
Patrice Gaillardetz
2010-01-01
Full Text Available We develop a consistent evaluation approach for equity-linked insurance products under stochastic interest rates. This pricing approach requires that the premium information of standard insurance products is given exogenously. In order to evaluate equity-linked products, we derive three martingale probability measures that reproduce the information from standard insurance products, interest rates, and equity index. These risk adjusted martingale probability measures are determined using copula theory and evolve with the stochastic interest rate process. A detailed numerical analysis is performed for existing equity-indexed annuities in the North American market.
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2010-07-01
... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Conversion of a 5-year level premium term policy as provided for under § 1904 of title 38 U.S.C. 8.16 Section 8.16 Pensions... Plan § 8.16 Conversion of a 5-year level premium term policy as provided for under § 1904 of title 38 U...
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Wasserman, Emily J; Reilly, Samantha M; Goel, Reema; Foulds, Jonathan; Richie, John P; Muscat, Joshua E
2018-05-01
Background: Increased cigarette costs have inadvertently strengthened the appeal of discounted brands to price-sensitive smokers. Although smokers perceive discounted brands as having poorer quality, little is known about their delivery of toxic tobacco smoke constituents compared with premium-branded tobacco products. Methods: We investigated the differences between discount and premium brand smokers using the National Health and Nutrition Examination Survey 2011-2012 Special Smoker Sample. Our analyses focused on demographic differences and 27 biomarkers of harmful and potentially harmful constituents (HPHC) listed by the FDA, including volatile organic compounds, 4-(methylnitrosamino)-1-(3-pyridyl)-1-butanol and its glucuronide [4-(methylnitrosamino)-1-(3-pyridyl)-1-butanol glucuronide; reported as total NNAL (tNNAL)], metals, and polycyclic aromatic hydrocarbons (PAHs). Data were analyzed using linear regression models adjusting for potential confounders. Results: A total of 976 non-tobacco users and 578 recent cigarette smokers were eligible for analysis, of which 141 (26.0% weighted) smoked discount brand cigarettes and 437 (74.0% weighted) smoked premium. Discount brand smokers were older, predominantly non-Hispanic white, and had higher serum cotinine. Discount brand smokers had significantly higher levels of 13 smoking-related biomarkers, including tNNAL, uranium, styrene, xylene, and biomarkers of exposure to PAHs (naphthalene, fluorene, and phenanthrene), compared with premium brand smokers. Conclusions: These findings suggest that discount cigarette use is associated with higher exposure to several carcinogenic and toxic HPHCs. Impact: These results may have important regulatory implications for product standards, as higher exposures could lead to a greater degree of harm. Cancer Epidemiol Biomarkers Prev; 27(5); 601-9. ©2018 AACR . ©2018 American Association for Cancer Research.
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The US Finance Wage Premium Before and After the Financial Crisis
DEFF Research Database (Denmark)
Capuano, Stella; Lai, Tat-kei; Schmerer, Hans-Jörg
2014-01-01
Does the recent financial crisis change the wage structures of the US finance and nonfinance sectors? In this article, we study the wage gap between workers in these two sectors between 1990 and 2011. Using data from the Current Population Survey, we find that the finance wage premium increased...... over time and only dropped modestly during the crisis. Using the Oaxaca–Blinder method to decompose the wage gap into ‘explained’ and ‘unexplained’ parts, we also find that the wage gap was entirely driven by unexplained factors....
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Directory of Open Access Journals (Sweden)
Subhojit Banerjee
2016-12-01
Full Text Available The role of peer-group environment as an influencing factor in purchase decisions is well established. This paper broadens the above premise and studies the influence of peer-group environment on an individual's promotional choice in the context of premium promotions or freebies. Two sets of college students with distinctive peer-group settings in terms of their academic pursuit and residential details have been considered for the study. Discriminant analysis shows that higher interaction and educational orientation of group members influence the customer's promotional preference. Students pursuing professionally oriented courses had a distinctively higher preference for premium-promotions that were hedonic.
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2010-01-01
... OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.207 Can I make...
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The IMF’s High Interest Rate Policy and Its Effects on the Stabilization of the Korean Won
Directory of Open Access Journals (Sweden)
Tae-Joon Kim
2000-03-01
Full Text Available There has been a lively debate whether high interest rates were effective in stabilizing the exchange rate in the wake of the Asian currency crisis. Many economists insist that high interest rates not only failed to stabilize the Korean won, but also exacerbated the crisis itself. This paper tries to shed light on this problem by providing empirical evidence from the high interest rate period. (1997. 12. 3 ? 1998. 4. 8 If possible channels whereby interest rates may affect exchange rates are examined, the high interest rate policy scores well. It accommodated net capital inflow by satisfying the interest rate parity condition. Also it helped rebuild credibility of the policy stance. While the negative impact of high interest rates on the private sector cannot be denied, the role of credit crunch needs to be recognized together. Next, the dynamic interaction between interest rates and exchange rates is analyzed using a vector error correction model composed of interest rate differential, spot and forward exchange rates, and country risk premium. The estimation result shows that a 10% point rise in domestic interest rate appreciates the Korean won by 25%. In addition, the country risk premium considerably falls down. In sum, it may be concluded that the high interest rate policy was effective in achieving its goal of stabilizing exchange rates.
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Social differentials in speed-premium effects in childbearing in Sweden
Directory of Open Access Journals (Sweden)
Jan M. Hoem
2006-01-01
Full Text Available In Sweden, parents receive a parental-leave allowance of a high percentage (currently 80% of their pre-birth salary for about a year in connection with any birth. If they space their births sufficiently closely, they avoid a reduction in the allowance caused by any reduced income earned between the births. The gain is popularly called a "speed premium". In previous work we have shown that childbearing was sped up correspondingly. This is clear evidence of a causal effect of a policy change on childbearing behavior. In the present paper, we study how this change in behavior was adopted in various social strata of the Swedish population.
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N.C. Poudyal; J.M. Bowker; J.P. Siry
2015-01-01
Marketing carbon offset credits generated by urban forest projects could help cities and local governments achieve their financial self-sufficiency and environmental sustainability goals. Understanding the value of carbon credits sourced from urban forests, and the factors that determine buyersâ willingness to pay a premium for such credits could benefit cities in...
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Tatari, Farzaneh; Akbarzadeh-T, Mohammad-R; Sabahi, Ahmad
2012-12-01
In this paper, we present an agent-based system for distributed risk assessment of breast cancer development employing fuzzy and probabilistic computing. The proposed fuzzy multi agent system consists of multiple fuzzy agents that benefit from fuzzy set theory to demonstrate their soft information (linguistic information). Fuzzy risk assessment is quantified by two linguistic variables of high and low. Through fuzzy computations, the multi agent system computes the fuzzy probabilities of breast cancer development based on various risk factors. By such ranking of high risk and low risk fuzzy probabilities, the multi agent system (MAS) decides whether the risk of breast cancer development is high or low. This information is then fed into an insurance premium adjuster in order to provide preventive decision making as well as to make appropriate adjustment of insurance premium and risk. This final step of insurance analysis also provides a numeric measure to demonstrate the utility of the approach. Furthermore, actual data are gathered from two hospitals in Mashhad during 1 year. The results are then compared with a fuzzy distributed approach. Copyright © 2012 Elsevier Inc. All rights reserved.
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78 FR 13405 - Patient Protection and Affordable Care Act; Health Insurance Market Rules; Rate Review
2013-02-27
... Parts 144, 147, 150, et al. Patient Protection and Affordable Care Act; Health Insurance Market Rules... Insurance Market Rules; Rate Review AGENCY: Department of Health and Human Services. ACTION: Final rule. SUMMARY: This final rule implements provisions related to fair health insurance premiums, guaranteed...
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Why borrowers pay premiums to larger lenders: Empirical evidence from sovereign syndicated loans
Hallak, Issam
2002-01-01
All other terms being equal (e.g. seniority), syndicated loan contracts provide larger lending compensations (in percentage points) to institutions funding larger amounts. This paper explores empirically the motivation for such a price design on a sample of sovereign syndicated loans in the period 1990-1997. I find strong evidence that a larger premium is associated with higher renegotiation probability and information asymmetries. It hardly has any impact on the number of lenders though. Thi...
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Khan, Kamran Ahmad; Khan, Gul Majid; Zeeshan Danish, Muhammad; Akhlaq; Khan, Haroon; Rehman, Fazal; Mehsud, Saifullah
2015-12-30
Current study was aimed to develop 200mg controlled release matrix tablets of Losartan Potassium using Ethocel 100 Premium and Ethocel 100 FP Premium as rate controlling polymer. In-vitro studies were performed according to USP Method-I in phosphate buffer (PH 6.8) using pharma test dissolution apparatus. The temperature of the dissolution medium was kept constant at 37±0.5°C at 100rpm. Flow properties, physical quality control tests, effect of polymer size and drug-to-polymers ratios were studied using different kinetics models such as 1st-order, zero-order, Hixon Crowell model, Highuchi model and Power law. Difference factor f1 and similarity factor f2 were applied for dissolution profiles against Cardaktin® tablets used as a reference formulation. The matrices with polymer ethocel 100 FP Premiums have prolonged the drug release rate as compared to polymer ethocel 100 Premiums. The n values matrices with polymer ethocel grade 100 ranged from 0.603 to 0.857 indicating that the drug release occurred by anomalous non fickian diffusion kinetics while then value of reference Cardaktin® tablet was measured as 0.125 indicating that these tablets do not follow power law. The dissolution profiles of test formulations were different than that of reference Cardaktin®. This suggests the polymer Ethocel grade 100 can be proficiently incorporated in fabrication and development of once a day controlled release matrix tablets. Copyright © 2015. Published by Elsevier B.V.
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Why Are Real Interest Rates So High?
Zvi Bodie; Alex Kane; Robert L. McDonald
1983-01-01
This paper applies the Capital Asset Pricing Model to help explain the anomalous behavior of real interest rates during the last several years. Specifically,we are able to show that the increased volatility of bond prices since the change in Federal Reserve operating procedure in October 1979 has substantially increased the required real risk premium on long term bonds. We also consider and reject the possibility that increased risk alone accounts for the recent increase in the short-term rea...