“Some LTCI Issuers Count More on Future Rate Hikes Than Others: S&P,” by Allison Bell, ThinkAdvisor “If state insurance regulators started rejecting too many long-term care insurance (LTCI) rate increase requests, that could cause serious reserving problems for some U.S. LTCI issuers, according to a new report from S&P Global Ratings. … Eight insurers  with large blocks of LTCI policies on their books have assumed, when they set their LTCI reserves, that they will get permission from state insurance regulators to implement future LTCI premium increases with a total value of about $12 billion, according to S&P analyst figures.” LTC Comment
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“Long-Term Care Insurance Issuers Face a Form Tsunami: Idea File,” by Allison Bell, ThinkAdvisor “Millions of Americans still have long-term care insurance (LTCI) policies in force, and hundreds of thousands of the LTCI policyholders are eventually going to file claims. Someone will have to pay the claims. Peter Goldstein, the chief executive officer of LTCG, has an idea about LTCI claims. Everyone had better recognize that paying benefits according to the terms of the policies will be complicated.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Congratulations to Center friend Peter Goldstein, CEO of corporate member
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“Countdown to Retirement: 10 Years Away,” by Eileen Ambrose and Sandra Block, Kiplinger “You could pay the bills out of pocket (in other words, self-insure) if you have the assets. Or consider long-term-care insurance. Consumers often worry that premiums will skyrocket over time or that they will buy the insurance and never use it, says John Ryan, a CFP with Ryan Insurance Strategy Consultants in Greenwood Village, Colo. People who bought policies decades ago were shocked to see steep increases later. But today’s policies are more accurately priced—meaning premiums are higher—than those issued back then, and actuaries are not forecasting
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“LTC insurance industry is ‘imploding’ as new numbers show chasm in costs for private plans,” by Marty Stempniak, McKnight’s LTC News “While long-term care insurance options continue to diminish, a new industry report finds a huge spread in costs for virtually identical coverage plans. The American Association for Long-Term Care Insurance on Monday released its 2019 price index. It notes that a couple in their mid-50s purchasing such coverage can expect to pay an average annual premium of about $3,000 for combined benefits of $770,000, if they start needing care at age 85. Director Jesse Slome noted the gap between
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“Older Americans worried about insurance coverage, health costs as they approach retirement,” by Rose Meltzer, Fierce Healthcare “A sizable percentage of Americans between the ages of 50 and 64 are worried about their healthcare coverage as they head toward retirement, according to a new poll from the University of Michigan. Although some of these concerns include things people can’t directly control, such as policy changes, many are focused on maintaining current coverage provided through an employer while reducing personal healthcare expenses. … About a quarter (27%) of respondents fear they won’t be able to afford their insurance over the next
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