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2020 Long-Term Care Insurance Paid Claim Payments Rise
The nation’s long-term care insurers paid out $11.6 Billion in 2020, an increase over prior years according to the American Association for Long-Term Care Insurance (AALTCI).
“Every year benefit payouts grow to individuals needing care and purchased long-term care insurance for that very real risk,” reports Jesse Slome, AALTCI’s director. ”The $11.6 billion paid in 2020 represents an increase of $600 million over the total 2019 claim benefits paid and a significant increase from the $8.65 billion paid out five years earlier in 2016.” |
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