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 for 2017, we are introducing a series of articles by experienced industry professionals who are relatively new to long-term care (LTC).

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

Description: The NAIC Innovation work group has set out 10 ideas for improving the LTC insurance market. This article discusses and critiques those ideas.

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

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

Description: This article is aimed at developing young actuaries and how the current LTCI market offers much opportunity.

Description: Description of Long Term Care programs in various European countries

Description: This article provides insight on how the worksite LTC market has evolved, and how new concepts like "Financial Wellness" are serving as a catalyst to engage employees in LTC Planning during their working years.

Description: The Congressional Budget Office reports that out-of-pocket expenses accounted for 19 percent of the total long-term care LTC expenses in the United States in 2006, and private LTC insurance accounted for only 8 percent of these expenses, which shows that Americans are underinsured for LTC expenses. While it is true that public programs like Medicaid and Medicare cover much of the nation’s LTC expenses 68 percent of the total LTC expenses in the United States in 2006, eligibility for these programs comes at a great cost to the individual.