Description: The 2020 Long-Term Care (LTC) Medical Symposium was a two-day conference that extracted the thinking of leading experts on historical and future trends that will influence LTC insurance (LTCI) claim expectations. The symposium focused on the ideas from experts outside of the LTCI industry for the explicit purpose of gathering fresh perspectives on the issues that LTCI companies face, such as expected timing of new claims onset, length of claim, life expectancy and cost of care. The 2020 symposium built on and complemented the first annual symposium held in 2018 and 2019. The focus in 2020 was on aging of the brain and how technology will impact the future of LTC caregiving. The symposium is not intended to quantify historical or future trends or to be prescriptive or specific about long-term care actuarial assumptions. Rather, the symposium aims to provide the long-term care actuary with environmental context for considering morbidity and other macro factors that may impact LTC experience in the long term.

Description: This report is the result of the Long-Term Care Medical Symposium and aims to provide the long-term care actuary with environmental context for considering morbidity and other macro factors that may impact LTC experience in the long term.

Description: In late 2018, the Society of Actuaries held a long-term care medical symposium. This meeting assembled a small group of medical experts to discuss the key medical issues facing the aging population with a focus on their impact on long-term care insurance. This session will provide an overview of the symposium, key outcomes and next steps for future updates.

Description: LTC insurers are beginning to implement population health programs to improve the lives of their policyholders before and during a claim. Measuring the financial impact of these programs can be difficult for a variety of reasons and multiple methodologies are used to evaluate treatments or programs. This article proposes two different methods of randomized control trials to evaluate the impact of these programs through a case study approach, along with additional potential considerations when evaluating effectiveness.

Description: Discussion on modeling Medicare Supplement insurance and the considerations when choosing an Actuarial Modeling Software (AMS). Focuses on model risk management, key modeling assumptions and inputs, and the complex interactions between modeling assumptions and why its critical to have a model that can handle that complexity. This article also touches on the incorporation the of accounting and regulatory regimes into the model, including Statutory, GAAP (Legacy and LDTI), and Tax regimes, and the modeling considerations for sensitivity testing and capital planning. Lastly, the article highlights the capabilities to look for when choosing an AMS for Medicare Supplement

Description: This article describes Medicare Supplement and short-term care products in more detail, and we compare their risk profiles. We explore the concept that these two products—when offered together—may provide a complementary hedge of certain policyholder behavior risks.

Description: In this article we provide a market overview of these three living benefit riders, discuss key product development and pricing considerations, explore the advantages of offering many living benefit riders on a single life insurance policy, and review considerations when filing these products for review and approval for entering the market.

Description: The Aging and Retirement Strategic Research Program is pleased to make available a report describing the results of analysis into how the supply of neurology specialists for diagnosis and care of dementia relates to historical LTCI cognitive claims.

Description: Welcome to the future of insurance, for actuaries and non-actuaries! Discover how cutting-edge AI models are revolutionizing underwriting, risk assessment, and customer experience for the insurance industry. Experts in management consulting and actuarial consulting firms will provide valuable insights into the consideration and challenges surrounding the adoption of Generative AI.