Description: Approaches to filing, approving and implementing LTC rate increases impact policyholder behavior regarding retaining/modifying their coverage.

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

Description: Consideration of the LTC Actuarial Standard of Practice

Description: Update on LTC Section activities and other issues from the perspective of a Society of Actuaries' staff actuary.

Description: The Proposed Accounting Standards Update was exposed on September 29, 2016 with the comment period ending on December 15, 2016.

Description: As the topic of affordable long-term care (LTC) insurance comes into focus in political conversations, we often find ourselves thinking, “What is going to happen to the private LTC insurance industry going forward?” The need for LTC in the United States is not going away, especially as the population continues to age. With this in mind, this article explores three possible future paths for LTC insurance funding and the associated implications for the private LTC industry.

Description: Targeted Improvements provides a strong impetus for commitment by management to develop and maintain a set of appropriate assumptions. As even the best of assumptions will take time to season, the sooner the improvements in assumptions are made, the quicker the goal of stabilized earnings can be realized.

Description: Reflections from the past year as chair of the LTC Section Council.

Description: The LTC insurance sector faces a crisis of credibility due to recent company failures. Market evidence indicates reduced confidence in the reserve sufficiency of companies with large legacy LTC exposures. Disclosures show the persistence of problematic actuarial and investment return assumptions. Institutional backstops exist but vary by jurisdiction and have elements which can exacerbate rather than ameliorate problems. Fortunately, LTC liabilities accrue over long time periods. An industry supported incentive structure can be conceived that would establish stronger standards and encourage greater reserving in exchange for a more reliable and rational backstop.