Description: In this video Dale Hall, Managing Director of Research at the Society of Actuaries Research Institute, discusses the recently published report on Informal Caregiving: Measuring the Cost and Reducing the Burdon. Highlighting the motivation behind the research and addressing the substantial costs and widespread impact of informal caregiving, Hall presents statistics indicating the prevalence and financial implications, emphasizing the disproportionate burden on women. He explores the potential negative effects on caregivers and their employers, especially in the context of evolving demographic trends and the influence of COVID-19. Contributors: Dale Hall FSA, MAAA, CFA, CERA , Rose Northon, Steven Siegel ASA MAAA, Jon Forster ASA MAAA

Description: A summary of the recent SOA Product Development Section webinar, Challenging the Status Quo: Emerging LTC Product Designs. Summarizes discussions on how the LTC industry can overcome existing hurdles and evolve to meet consumer needs.

Description: Stakeholders in a specific state (Minnesota) were interviewed about the potential value -- and obstacles -- of a catastrophic backstop program to handle long term care (LTC) financing needs. The design would entail a payroll deduction which would produce a fund to pay LTC expenses once a deductible period (of 1 to 4 years, depending on income) was reached. This design was believed to encourage enrollees to cover the front end better than done today, whether by private insurance or other means.

Description: Description * Coinsurance has not been widely offered as a benefit reduction option to offset long-term care premium rate increases. This article uses an illustrative example to evaluate the potential impact coinsurance could have on an insurance carrier's future claim liabilities and a policyholder's premium rates. It also explores various considerations insurance carriers, regulators, and policyholders should think about when evaluating whether coinsurance is the right option.

Description: Article on the history of the Long Term Care Discussion Group, a Washington DC-based venue for discussing long-term care and related issues for over 20 years.

Description: Family caregivers are a critical link in providing long-term services and supports (LTSS), but they have significant unmet needs. To better support family caregivers, Congress authorized the Recognize, Assist, Include, Support, & Engage (RAISE) Family Caregivers Act in 2018 and created the RAISE Family Caregiving Advisory Council. The Council identified recommendations to serve as the backbone of a national strategy to improve the physical, emotional and financial well-being of family caregivers. A new report, "Asking Directions: Mapping a Course to Support Family Caregivers," identifies specific actions across a variety of players for meeting the Council’s recommendations. It summarizes insights from a year’s worth of strategy sessions and interviews with representatives of over 100 organizations. The report brings together thoughts on best practices and the most critical action steps from national and state organizations, county health providers, the direct care workforce, large and small employers, aging and disability organizations, faith-based groups, respite care providers and more. This article summarizes the research methods and key findings of the report and the work conducted by the Leading Age LTSS Center @UMass Boston and Community Catalyst’s Center for Consumer Engagement in Health Innovation.

Description: Bringing managed care concepts into LTC claims management could benefit insurers, policyholders, and providers. This article outlines the case for doing so, and articulates the benefits to each stakeholder in the LTC claims process.

Description: In this video Dale Hall, Managing Director of Research at the Society of Actuaries Research Institute, introduces a report titled “Guide to Domestic & International Paid Family and Medical Leave Programs.” Motivated by the increasing interest in these programs, especially post-COVID 19, the report compares U.S. and international paid family and medical leave initiatives. Key findings include differences in benefit generosity and periods for maternity and paternity leave, as well as domestic violence leave. Contributors: Dale Hall FSA, MAAA, CFA, CERA , Rose Northon, STeven Siegel ASA MAAA, Jon Forster ASA MAAA