Issue review : impact on the insurance premium tax rate reduction .

In 2002, Senate File 2318, Insurance Premium Tax Reduction Act, the Iowa General Assembly approved a reduction in the insurance premium tax rate from 2 percent to 1 percent. The reduction was phased in at the rate of 1/4 percent annual increments over a five-year period, beginning with life and health insurance policy payments made on or after January 1st, 2003. Calendar year 2007 was the first year all premiums were taxed at 1 percent and fiscal year 2008 was the first full fiscal year at the 1 percent rate. Insurance premiums tax is paid only by insurance companies. The companies that benefit from the tax reduction are uniquely identified in government employment statistics. This allows for a unique opportunity to evaluate both the revenue impact and the employment impact of the tax rate reduction in Senate File 2318. This issue review focuses on the General Fund revenue impact of the rate reduction and the Iowa employment trends for the insurance industry since the rate reduction legislation was approved.

Developing an Effective Construction Training Program for Hispanic and American Supervisors and Craft Workers, 2007

Hispanics are a large and growing part of the United States workforce. Projections of the U.S. Census Bureau (2001) state that, by the year 2050, Hispanics will account for 25% of the population. For the Midwest in particular, the Hispanic population is expected to increase 35% by the year 2025. The construction industry is expected to experience a greater percentage increase of its Hispanic population, due to the labor-intensive nature of the industry. This study addresses the expected increase of Hispanic workers in the construction industry by testing the best approaches for delivering training to construction crews with Hispanic workers as well as American supervisors and laborers in the state of Iowa. The research methodology consisted of assessing the effects on communication, safety, work environment, and productivity as a result of the integration training. Results show that integration on-site training decreases workers’ desire to move and increases quality of work and productivity. Most importantly, experimental design was used to show the increasing levels of direct construction communication due to the Toolbox Integration Course for Hispanic Workers and American Supervisors (TICHA) designed as part of this project. This study recommends the creation of a quasi-governmental or association program that can offer continuous research and training that can benefit the construction industry as well as society as a whole. The industry involvement in this process is crucial for contractors. Not only do contractors benefit from reduced insurance premiums when workers act safely, but workers with better communication skills are more productive.

A guide to understanding the variation in premiums in rural health insurance marketplaces (RUPRI Center for Rural Health Policy Analysis rural policy brief)

This brief discusses several important factors that should be considered when comparing health insurance plans in the health insurance marketplaces across geographic areas.

Influence of the Premium Subsidy on Farmers’ Crop Insurance Coverage Decisions, April 2005

The Agricultural Risk Protection Act greatly increased the expected marginal net benefit of farmers buying high-coverage crop insurance policies by coupling premium subsidies to coverage level. This policy change, combined with cross-sectional variations in expected marginal net benefits of high-coverage policies, is used to estimate the role that premium subsidies play in farmers’ crop insurance decisions. We use county data for corn, soybeans, and wheat to estimate regression equations that are then used to obtain insight into two policy scenarios. We first estimate that eventual adoption of actuarially fair incremental premiums, combined with current coupled subsidies, would increase farmers’ purchase of high-coverage policies by almost 400 percent from 1998 levels across the three crops and two plans of insurance included in the analysis. We then estimate that a return to decoupled subsidies would decrease farmers’ high-coverage purchase decisions by an average of 36 percent.

Livestock Revenue Insurance, November 2000

This study outlines several possible structures for livestock revenue insurance. The policies take the form of an exotic option—an Asian basket option. The actuarially fair premiums for these policies are equal to the prices of the options they represent. Due to the complexity of pricing Asian basket options, we have combined two techniques for pricing options to reach the actuarially fair premiums. Projected premiums, producer welfare, and program efficiency are evaluated for the insurance products and existing market tools. Using efficiency ratios and certainty equivalent returns, we compare the insurance policies to strategies involving existing futures and options.

2007 Medicare Deductibles, Coinsurance and Premiums, 2007

Medicare Deductible, co-insurance and premiuns form.

Iowa Department of Commerce - Insurance Division, Agency Performance Plan

Annual Report, Agency Performance Plan

Northeast Iowa Schools Insurance Trust, June 30, 2001 & June 30, 2002

Other Audit Reports

Northeast Iowa Schools Insurance Trust, June 30, 2002 & June 30, 2003

Other Audit Reports

Investigation of the State Insurance Division's Oversight of Clinton Memorial Cemetery & Funeral Home, Inc, 1999

Investigative report produced by Iowa Citizens' Aide/Ombudsman

Employment and Wages Covered by Unemployment Insurance, Final County Data, Third Quarter, 2003

Third Quarterly County information for Census of Employment & Wages - County

Employment and Wages Covered by Unemployment Insurance, Final Statewide Data, Third Quarter, 2003

Third Quarterly County information for Census of Employment & Wage, Statewide

Employment and Wages Covered by Unemployment Insurance, Final County Data, Fourth Quarter, 2003

Fourth Quarterly County information for Census of Employment & Wage, County

Employment and Wages Covered by Unemployment Insurance, Final Statewide Data, Fourth Quarter, 2003

Fourth Quarterly County information for Census of Employment & Wage, Statewide

Northeast Iowa Schools Insurance Trust, Independent Auditor's Reports, Finacial Statement and Required Supplementary Information, Schedule of Findings, June 30, 2004

Other Audit Reports - 28E Organizations