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 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: 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.