Our Current Issue
LTC Ins. Keeps 'em home
Increasing Use of Home Care in Long-Term Insurance Policies
The 2007 Society of Actuaries’ examination of claim experience from 1984-2004, under long-term care insurance policies, shows a significant change in the types of services received as compared with their 2002 report (claims experience 1984-2001). Nursing home only claims dropped from 80% of all claims in the 2002 report to 55% in the current one. Home care only claims increased from 15% in the earlier report to 26% in the current one, while claims with both nursing home and home care rose from 5% to 19% of all claims.
1984-2004 Long-Term Care Intercompany Study
Society of Actuaries
November 2007
http://www.soa.org/research/long-term-care/research-ltc-study-1984.aspx
