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: September issue of Long-Term Care News

Description: This article discusses what options exist for people who don’t pass underwriting for long-term care (LTC) insurance.

Description: The SOA Committee on Post-Retirement Needs and Risks, working closely with the SOA Long Term Care Section, issued a call for papers in 2013: “Managing the Impact of Long-Term Care Needs and Expense on Retirement Security: A Holistic and Multi-Generational View.” The papers that were chosen were highlighted at the 2014 Annual Meeting and will be published as a monograph, both available on the SOA website. These papers add to the section’s and others’ ongoing discussions about the future of the long term care system including the “Land This Plane” project. Some of the items of greatest focus are integration with retirement security, impact on the caregiver and family, and integration with housing as well as offering an array of possible pubic policy reform.

Description: Report on meetings sessions in each of 5 tracks for Long Term Care professionals: Actuarial, Compliance, Operations, Policy and Provers, and Group.

Description: For a long time the primary focus of private LTC insurance companies has been to educate the public about the need for private LTC insurance and to make the product more acceptable to a wider population. To this end there have been numerous changes to the product design to make this product more acceptable to general population. However, one of the things that may have been overlooked in those product design changes is the need for alignment of policyholder and insurance company’s interests, which is to make coverage more affordable and to reduce adverse selection. Incentivizing good behavior from policyholders can not only make LTC insurance policies less expensive but also help policyholders make better health choices, which can help them stay healthy for a longer time. These incentives may also reduce some of the inherent risks in a long term care policy and may help in increasing the sales of private LTC insurance.

Description: New insurance product concept to cover elder care

Description: Read the February 2020 issue of Long-Term Care News published by the Long-Term Care Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Insolvency Due to Long Term Care resulting from deficiencies in underwriting, contract language and claim processing. From Long-Term Care Newsletter, August 2001, Issue No. 5.

Description: The article describes a project between French actuaries and US actuaries. The intent is to study each country practices and identify areas of research and possible reporting to the membership.