Description: Third article in a series on how to use predictive analytics to improve the development of long-term care projection assumptions.

Description: This article is the first installment of a three-part series and is focused on providing an overview of LTC modeling approaches and considerations.

Description: The author discusses health care practices in Japan and how the US could successfully adopt some of them.

Description: LTCI: Using Modified Natural Reserves as opposed to NAIC valuation reserves to accumulate margins for moderately adverse experience or to analyze experience as it develops.

Description: This article compares the pros and cons of two methods for projecting LTC utilization: an average utilization method and a distribution method.

Description: A recent Society of Actuaries study calculates safety and stability for current Long Term Care Insurance premiums.

Description: This article is the second installment of a three-part series and is focused on providing an overview of LTC modeling approaches and considerations.

Description: This article describes how Long-Term Care riders attached to Life Insurance policies provide real insurance value at a reasonable cost and allow life insurance companies to compete on a basis other than cost.

Description: The panel demonstrates a technique that can help set confidence intervals regarding future rate increases used to satisfy the NAIC rate stabilization model. Specific topics include creating a stochastic model, deciding which variables are deterministic vs. stochastic, developing probability distributions for the stochastic variables, running the model and evaluating the reasonableness of results. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 21

Description: For a long time the primary focus of private LTC insurance companies has been to educate the public about the need for private LTC insurance and to make the product more acceptable to a wider population. To this end there have been numerous changes to the product design to make this product more acceptable to general population. However, one of the things that may have been overlooked in those product design changes is the need for alignment of policyholder and insurance company’s interests, which is to make coverage more affordable and to reduce adverse selection. Incentivizing good behavior from policyholders can not only make LTC insurance policies less expensive but also help policyholders make better health choices, which can help them stay healthy for a longer time. These incentives may also reduce some of the inherent risks in a long term care policy and may help in increasing the sales of private LTC insurance.