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: Congress authorized the creation of the RAISE Family Caregiving Advisory Council in 2018. The Council, comprised of family caregivers and experts from a wide variety of stakeholder organizations in both the private and public sector, have been engaged in an in-depth research effort over the last two years to develop recommendations and an implementation plan to address our national caregiving crisis. This article describes their work and the newly released Report to Congress.

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

Description: The article provides a summary of key issues presented at the 2023 U.S. Living to 100 Symposium focused on the interests of retirement professionals and retirees. It provides an overview of the subjects covered. The discussion focused on the well-being of retirees and the development of the retirement system. It is focused on late-in-life issues and having the best life possible during that period. It balances technical and lifestyle issues, with an emphasis on mortality and longevity trends and influences. Some of the topics discussed include the impact of COVID, climate, housing, and age-friendly communities. The Elder Tech Symposium was merged into Living to 100 and includes discussion of a variety of technology approaches to improve lives and simplify support. The symposium recognized that the decisions needed and concerns during retirement are different later in life, particularly as people decline.

Description: Some seniors may find it challenging to manage frequent doctor visits. Telemedicine can significantly fill in some of these gaps by enabling “virtual” doctor visits. Telemedicine improves access to medical care, reduces the need for transportation, reduces wait times, protects the health of individuals who won’t be exposed to germs of others in a waiting room, and improves access to care from a healthcare professional who may be far away from the patient and more. Implications for telemedicine in charged amounts (in various insurances) are being worked out and continue to evolve.

Description: Retirement planning generally includes a focus on decisions needed at time of retirement, but it often fails to focus on changes during retirement and additional decisions needed as people age. The 2021 SOA Risk Survey and other SOA research documents the lack of focus on future change. It is common for people to lose cognitive ability and generally to become less able to make decisions, manage their finances, their medical care and their lives at high ages.This panel focuses on communication and decision issues. The SOA has recently issued a decision guide on High Age Decisions. The brief identifies four domains for high age decisions: ·Health, health care and staying healthy ·Managing finances ·Housing and transportation ·Support networks The panel will include a discussion of communications and how we change, problems of physical, hearing, sight or cognitive decline and the challenges created and the four domains in the SOA Decision Brief.

Description: The barrier between humans and machines continues to blur, but curiously, this may have been prediction thousands of years ago in ancient myths. This article looks to how some of the early legends are becoming manifest in modern technology, particularly in the area of elder care. From automation, to humanoid assistants, to mind clones will the age of technology bring a new utopia?

Description: This is an introduction to the SOA call for essays around risk strategies pertaining to the diverse risks found in retirement. We are pleased that these essays can be included in this issue of Pension Section News, along with a short interview with each author.

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: Family caregivers are a critical link in providing long-term services and supports (LTSS), but they have significant unmet needs. To better support family caregivers, Congress authorized the Recognize, Assist, Include, Support, & Engage (RAISE) Family Caregivers Act in 2018 and created the RAISE Family Caregiving Advisory Council. The Council identified recommendations to serve as the backbone of a national strategy to improve the physical, emotional and financial well-being of family caregivers. A new report, "Asking Directions: Mapping a Course to Support Family Caregivers," identifies specific actions across a variety of players for meeting the Council’s recommendations. It summarizes insights from a year’s worth of strategy sessions and interviews with representatives of over 100 organizations. The report brings together thoughts on best practices and the most critical action steps from national and state organizations, county health providers, the direct care workforce, large and small employers, aging and disability organizations, faith-based groups, respite care providers and more. This article summarizes the research methods and key findings of the report and the work conducted by the Leading Age LTSS Center @UMass Boston and Community Catalyst’s Center for Consumer Engagement in Health Innovation.