Description: Long-term care policy buyouts have been discussed within the industry lately as an additional policyholder option alongside a premium rate increase. This article discusses potential advantages and disadvantages of long-term care policy buyouts from the perspective of insurance carriers, regulators, and policyholders. It also explores certain key actuarial considerations relating to long-term care policy buyouts including potential approaches to valuing a buyout, adverse selection, and reinsurance.

Description: Feature article discussing combination long-term care products.

Description: This article discusses the pending Pension Protection Act and the opportunity it presents for products that combine LTC and Annuities.

Description: Stakeholders in a specific state (Minnesota) were interviewed about the potential value -- and obstacles -- of a catastrophic backstop program to handle long term care (LTC) financing needs. The design would entail a payroll deduction which would produce a fund to pay LTC expenses once a deductible period (of 1 to 4 years, depending on income) was reached. This design was believed to encourage enrollees to cover the front end better than done today, whether by private insurance or other means.

Description: This webcast will provide a foundational overview of LTC, including its role in the current health care system, the growing costs and demand, and recent legislative activity in the U.S. Gain firsthand insights from the director of the WA Cares Fund—the nation’s only state-based social insurance program for long-term care—covering its design, funding, and implementation. We’ll also broaden the perspective with an overview of international approaches, featuring the Dutch long-term care financing model as a case study. This webcast is ideal for anyone seeking to understand the evolving public policy and financing solutions for long-term care needs in the U.S. and abroad.

Description: With the evolution of long term care benefits in the insurance space, how does a customer know what product to choose? This webinar will present various ways someone can protect themselves with LTC insurance policies and riders.

Description: Author’s response to discussant comments for the 2009 Housing Wealth monograph paper, “Home Equity and At-Need Annuities—A Dynamic Long-Term Care Funding Duo”. The 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: The Society of Actuaries (SOA) retained Milliman, Inc. (Milliman) to conduct a research project related to product innovation. This report explores key risks and considerations for product innovation using the long-term care insurance (LTC, LTCI) industry as a case study. We identify how actuaries of all backgrounds can apply the lessons learned, and challenges overcome, by the LTCI industry to improve future innovation, product development and risk management.

Description: A brief description of the issue's contents.

Description: Column from the SOA staff actuary for the Long-Term Care Section.