Description: This final report is a SOA Task Force response to a NAIC request to develop valuation recommendations for long-term care insurance. Two basic sets of tables are provided: one for institutional benefits [nursing home] and one for noninstitutional benefits [home health care]. From Transactions of Society of Actuaries 1995, Vol. 47.

Description: The objectives of this paper include an assessment of the basis of volatility of experience and financial results, considering the risks and uncertainties associated with long-term policies, especially LTCi. In so doing, it is observed that a properly determined provision for risk and uncertainty is needed in premiums and reserves. It then describes the approaches that can be taken to quantify such a provision in new and re-rated LTCi. The paper discusses possible mitigation approaches that have and should be taken, especially but not limited to the use of policy design features to enhance the alignment of interests of the LTC insurer and its policyholders. It also explores the relationship between historical and expected future risks and uncertainties specific to LTCi. It concludes by pointing out the pervasiveness of the uncertainties involved, the earlier underestimation of the uncertainties involved, although the actual degree of uncertainty may have decreased over time as relevant experience has been obtained. Effective management of LTCi demands incorporation of mitigation approaches in its product design and continuous monitoring of relevant experience.

Description: This research report is sponsored by The Society of Actuaries and the Canadian Institute of Actuaries on the Canadian health care system. Performed by Stéphane Levert, FSA, FCIA, the study (available in French and English) estimated the future costs of the Canadian health care system, assessed the sustainability of the system over a 25-year horizon, and analyzed the implications of the changes to the Canada Health Transfer proposed on Dec. 19, 2011 by the federal government. The report summarizing the findings indicates that, without significant government intervention, the Canadian health care system in its current form is not sustainable.

Description: This paper sets forth hospital utilization data from 1978 by age and sex for both prepaid hospital contracts and contracts supplementing medicare. In addition, hospital continuation data from 1977 is provided from regular contracts. From Transactions of Society of Actuaries 1983, Vol. 35.

Description: The Canadian public health care delivery system continues to experience growing needs for increased funding. The total health care delivery system today costs Canadians $98 billion a year or about 9.7 percent of GDP. Of that total cost, 71 percent is paid by the government, which means the taxpayers. While that may pale in comparison to the costs in the U.S., it does make the Canadian system one of the five most expensive health care delivery systems in the world. While today’s cost pressures are of major concern, of even more concern are the costs being projected by many participants in the current health care debate for the period when the Baby Boom makes higher demands on the Canadian health care delivery system. Traditional projection methods, however, do not differentiate between the elderly who survive the year versus those who die as to their use of health care systems. This paper first looks at the impact that this differentiation could have on projected costs. Second, the paper looks at the impact that the wide use of Advance Directives [also called Living Wills] might have on future health care costs and some of the issues surrounding their use. From Actuarial Research Clearing House 2004, Vol. 1.

Description: Report on the SOA's 1st Annual LTC Operations and Technology Benchmark Survey. Its goals were to provide data to support the development of time and cost benchmarks for LTC operations, identify the most pressing operations and technology issues, and gain insights into the technologies that are being used to administer Long Term Care business.

Description: This report presents results for industry long-term care insurance persistency.

Description: This web page contains a link to a research report that highlights the characteristics of combination plans that serve to reduce the risks to insurers issuing life or annuity products linked to long-term care insurance. Observations are provided to assist in the understanding of the factors that explain the profit change sensitivity results and the natural hedging against major risks that inherently is present within the linked products.

Description: This is the databook for the "Health Care Cost - From Birth to Death". This study used commercial data held by the Health Care Cost Institute (HCCI) and Medicare fee-for-service data to analyze health care cost differences by age and their contribution to overall health care cost change. The commercial data includes claims from 2002 through 2010 and the Medicare data includes claims from 2006 through 2010.

Description: This paper introduces continuing care retirement communities and outlines the major recent developments in financing procedures and regulatory requirements aimed at keeping these entities solvent. In particular, it describes the Actuarially Based Financial Management System created by the AAA and the accounting Statement of Position 90-8 promulgated by the AICPA. From Transactions of Society of Actuaries 1995 Vol. 47