“7.7% Increase in Long-Term Care Benefits Payouts”

“7.7% Increase in Long-Term Care Benefits Payouts,” by Allison Bell, ThinkAdvisor 

“U.S. insurers paid $13.25 billion in claims for holders of standalone long-term care insurance policies in 2022, up 7.7% from the total for 2021, according to the American Association for Long-Term Care Association. The number of claimants increased 2.7%, to 345,000, and the average amount of benefits per claimant increased 4.9%, to about $38,400. That compares with a 2.6% increase in the average amount of benefits per claimant in 2021.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Good news for policyholders and LTC providers who receive market-rate payments from private payers instead of below-cost reimbursements from Medicaid.