Description: The panel will discuss several product challenges including modeling hybrid/combo long-term care products, modeling benefit options that are difficult to model using deterministic methods, modeling current situs of care versus original situs of care, monitoring assumptions, streamlining experience studies within the Long-duration Targeted Improvements (LDTI) framework, and model decision making with limited credible data. The panel will then move into solutions observed to address some of the aforementioned challenges and the future of long-term care modelling

Description: The research arm of the Society of Actuaries has funded two new works that will be presented. One is an actuarial model that provides tools to analyze long-term care financing reform proposals. The other is work on wellness components in long-term care insurance.

Description: Creating the complete view and management of the complex interactions between care providers, medicines and behavior.

Description: Principal Analyst Laurie M. Orlov of the Aging in Place Technology Watch will present a roadmap for the technology and ITSS marketplace. She will explore where it has been, what it does best, where it is going, and the challenges it faces. She has been a leading researcher and independent analyst in this field for more than 20 years.

Description: This paper describes the prevalence of the still uninsured long-term care financial risk, and how the at-need annuity/home equity combination can address long term care needs.

Description: PowerPoint slides of presentation given at Gerontological Society of America.

Description: On May 5, 2016, the Long-Term Care Valuation (B) Work Group of National Association of Insurance Commissioners’ (NAIC’s) Health Actuarial (B) Task Force’s Long-Term Care Actuarial Working Group (LTCAWG) requested recommendations from the American Academy of Actuaries (Academy)1 and the Society of Actuaries Research Institute (SOA)2 to replace the mortality and lapse bases for statutory minimum reserves. A copy of the request is included in Appendix 1 to this report. The Academy and SOA created a Long-Term Care Valuation Work Group (Work Group) to address the request. The Work Group is chaired by Warren Jones, the Mortality Subgroup is led by Bruce Stahl, and the Lapse Subgroup is led by Bob Yee. The Work Group has provided regular updates to the LTCAWG at national meetings and provided opportunities for the LTCAWG members to ask questions regarding the work in progress. This report presents the recommended lapse tables in Appendix 3, and recommended mortality tables in Appendix 4, and describes the methodology and process in developing these tables.

Description: The 2019 Long-Term Care (LTC) Medical Symposium was a one-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 2019 symposium built on and complemented the first annual symposium held in 2018. The focus in 2019 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 provides an overview of the relationship to COVID-19 to issues related to caregiving, family and long-term care, and related SOA research. The SOA has addressed these topics in several research reports not related to COVID-19 and in recent reports related to COVID-19. It is currently working on new projects to help people better address some of the issues. The article also includes some highlights of efforts by ASEC, the ERISA Advisory Council 2020 projects, and an educational program focused on these issues. It then focuses on a number of things that employers might do to be supportive in addressing these issues. The employer issues focus on employees, retirees and caregiving employers. In thinking about this, employers can focus on financial wellness programs, employee assistance programs, and prepaid legal programs. A list of topics to considered for educational offers is included.

Description: This is the second Intercompany Study of Long–Term Care Insurance. For this report, the committee gathered and refined data that dates back to 1984. This report combines and analyzes data received from 14 insurers that agreed to provide information to further the knowledge of long–term care insurance.