Announcement: SOA congratulates the new ASAs and CERAs for November 2024.

Long-Term Care Population Research Model

November 2024

Author

Edward Armentrout, ASA, MAAA
Consulting Actuary
Actuarial Research Corporation

Description

The Long-Term Care Population Research Model is an Excel-based model which examines the impact of a public long-term care (LTC) menu of benefits on beneficiary finances and service utilization. The model allows the user to define a menu of benefits by specifying various parameters. The model analyzes the potential impacts of the benefits on LTC utilization and expenditures for illustrative purposes on episodes of LTC need based on 2018 experience data. These impacts are summarized and provided as output for user review. In addition, the model provides a high-level financing estimate, in terms of a payroll tax, to provide context to the cost of the benefits.

Materials

LTC Population Research Model – Methodology 

LTC Population Research Model – User Guide

LTC Population Research Model 

Acknowledgments

The Society of Actuaries would like to thank the Project Oversight Group for their guidance and review of the report and model.

Project Oversight Group members:
Steve Schoonveld, Chair, FSA, MAAA
Michael Bergerson, FSA, MAAA
John Cutler, J.D.
Christopher Giese, FSA, MAAA
Geoffrey Hileman, FSA, MAAA
Matthew Klaus, FSA, MAAA
Stephanie Moench, FSA, MAAA
Matt Winegar, FSA, MAAA
Sisi Wu, FSA, MAAA

At the Society of Actuaries Research Institute:
Steve Siegel, ASA, MAAA, Sr. Practice Research Actuary
Barbara Scott, Sr. Research Administrator

Questions or Comments?

Give us your feedback! Take a short survey on this report. Take Survey

If you have comments or questions, please send an email to research@soa.org.