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Comments on the Economic Implications of the Exon Amendment to the Fair Insurance Practices Act

OCE-84-7 Published: Aug 27, 1984. Publicly Released: Sep 27, 1984.
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Highlights

Pursuant to a congressional request, GAO commented on the economic implications of a proposed amendment to S. 372, the Fair Insurance Practices Act. As originally introduced, S. 372 would have required that sex-distinct premiums and benefits in existing and future insurance and pension contracts be equalized. While the amendment would continue to prohibit discrimination based on race, color, religion, or national origin, distinctions based on sex would be defined as discriminatory only in connection with employee benefit plans.

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Administrative costsDiscriminationEconomic analysisEmployee benefit plansInsurance premiumsInsurance regulationPension plan cost controlProposed legislationRatesInsurance companies