Description: Discover new LTC product designs and their capability of meeting consumer needs during the Challenging the Status Quo: Emerging LTC Product Designs webcast. This learning opportunity presents you with the existing hurdles of these designs, then discusses how to successfully overcome them. Our speakers will highlight the current LTC product landscape and innovative product designs. The potential opportunities and challenges of each product design will be covered as well. By utilizing strategies discussed in this webcast, market penetration can become an easier task.

Description: Unfortunately, for many long-term care (LTC) products, realized experience is worse than originally expected and rate increases have become necessary. Filing a rate increase on a block of business often necessitates a separate filing in every state, often with different requests for support for the need for a rate increase from each state regulator. This session focuses on the best practices for filing LTC rate increases, both from the perspective of the filers as well as the regulators. Learn what regulators expect from companies pursuing LTC rate increases and how to be prepared to handle the rate-filing process.

Description: In the United States, individuals needing long-term services and supports (LTSS) access care, utilize services, and pay for their services in various ways. The authors explore how the need for, utilization of and payment for long-term services and supports differ in the U.S. by population cohorts. Their primary focus is disparity by race and ethnicity, but they also consider variations by geography, family structure, age, sex, gender and other socioeconomic factors.

Description: Milliman surveyed carriers about their recent LTC rate increase experiences. A total of 20 companies participated in the survey, representing 65 percent of LTC premium in the United States. This article highlights some of the findings from this survey, along with additional considerations when pursuing LTC rate increases.

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: At this engaging professionalism webcast, be prepared to reflect on the values of the actuarial profession and in particular the actuarial standards of practice related to long-term care.

Description: Product complexity, the services provided by distributors, their method of obtaining clients, and their relationship to insurers all affect the characteristics of in force membership.

Description: The risk/delivery/protection framework was first presented to participants in the SOA's Long-Term Care Think Tank seminar in a survey. That survey was designed to get participant opinions on how the system might evolve over the next five to 10 years. The results of the survey are summarized in the article.

Description: Broaden your understanding of how long-term care (LTC) is provided and brainstorm with other actuaries on ways to help society fund future LTC solutions. How we fund and provide LTC for our loved ones has changed over time and will evolve still by the time we retire. In this session we will explore the variety of ways that we fund LTC services: out of pocket and with informal care, Medicaid, lifeplan communities (Continuing Care Retirement Communities and and the Continuing Care at Home model), private LTC insurance and more. You will leave the session appreciating that providing long-term care is a key feature of our aging society and understand the variety of ways that we fund LTC today and may in the future.

Description: Review of non public options to finance care including personal savings, revers mortgages, family care and private insurance.