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: An examination of LTCI rate increases from three different perspectives: the insurance company, the policyholder, and the insurance department.

Description: A suggestion to review and reassess LTC pricing of the last three decades, in light of dangerously inadequate ratesetting in the early years, and the NAIC's introduction of a model rate stability law.

Description: A comment letter to policymakers produced jointly by the SOA and AAA presents findings from their actuarial analysis of the proposed CLASS Act. The analysis indicates that the proposed structure and funding approaches will be unsustainable, and will cover only a very small proportion of the intended population. The opt-out and guaranteed issue provisions of the plan pose a risk that soon the program will either need increased premiums and/or significant reductions.

Description: A discussion of issues and developments that threaten the collective confidence of the LTC insurance industry, including job cutting, changes in reporting requirements, and compliance audits.