Critical Point

Since 2005, the Milliman Medical Index (MMI) [http://www.milliman.com/mmi] has estimated annual healthcare costs for people covered by a typical employer-sponsored health plan. To mark the 20th anniversary of the report, MMI authors past and present gathered to review how healthcare has changed over the past two decades. They discussed the impact of the Affordable Care Act and the COVID-19 pandemic, the rise in drug advertising and outpatient care, and how trends might change again in the next 20 years. You can read the episode transcript [https://www.milliman.com/en/insight/critical-point-62-healthcare-costs-change-since-2005] on our website.

While the number of traditional pensions has been shrinking for decades, one type of defined benefit (DB) plan is expanding: the cash balance plan [https://www.milliman.com/en/Products/Cash-Balance-Plan-Solutions]. Combining features of DB and 401(k) plans, cash balance plans are particularly well-suited to helping small-business owners and highly paid professionals such as doctors and lawyers save for retirement. On this episode of Critical Point, three Milliman employee benefits experts explain why the number of cash balance plans has recently swelled to 25,000, how plans can be tailored to fit organizations of all sizes, and why this hybrid plan style may help address the looming retirement crisis.

In Europe, flooding was the most prevalent—and most expensive—climate peril last year, making 2024 the “Year of the Flood.” On this episode of Critical Point, five authors of Milliman’s annual Extreme Weather in Europe report assess the toll of flooding in their country and the response from insurers, governing bodies, and communities. They discuss what Italy is doing to protect the insurance industry, how construction in the UK and France may be contributing to flood risk, and why new regulations in Romania and the Benelux region may not do enough to keep pace with climate change.  Don’t miss the full Extreme Weather in Europe [https://www.milliman.com/en/extreme-weather-events-in-europe] report, as well as the related paper, Flood risk modelling in Europe [https://www.milliman.com/en/insight/flood-risk-modelling-in-europe], both available at Milliman.com.

AI has taken the world by storm—but not all insurance companies, or countries, are approaching the technology the same way. On this special episode of Critical Point, experts from Munich Re and Milliman who work across five continents come together for a global conversation exploring how insurers and regulators are approaching AI around the world. Plus, don’t miss Part 1 [https://www.milliman.com/en/insight/critical-point-50-artificial-intelligence-insurance-value-chain] and Part 2 [https://www.milliman.com/en/insight/critical-point-51-artificial-intelligence-machine-learning-models] of this series on AI and insurance.  You can read the episode transcript on our website [https://www.milliman.com/en/insight/critical-point-59-artificial-intelligence-global-trends].

Cell and gene therapies have been grabbing news headlines, both for their potential to cure rare diseases and for their million-dollar price tags. Milliman pharmacists and healthcare experts explain why state Medicaid agencies are particularly affected and the strategies many are using for predicting uptake and covering these high costs.  You can read the episode transcript on our website [https://www.milliman.com/en/insight/critical-point-episode-58-medicaid-cell-and-gene-therapies].