“Group Defends Stand-Alone Long-Term Care Insurance With Infographic,” by Allison Bell, ThinkAdvisor

Quote:

“The American Association for Long-Term Care Insurance is using a new infographic about long-term care insurance (LTCI) claim payments to try to increase consumer confidence in stand-alone LTCI coverage. Jesse Slome, AALTCI’s director, says in a statement that he prepared the infographic in an effort to counter some consumers’ mistaken belief that LTCI issuers fail to pay claims. Slome used previously published data, from AALTCI’s own LTCI issuer survey, to show that issuers paid at least $9.2 billion claims in 2017, and that 295,000 people were using LTCI benefits on the survey’s reporting data.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  $9.2B may not seem like much in comparison to the hundreds of billions of dollars Medicaid and Medicare pay for nursing homes and home care. But it is truly a huge achievement given how much government has done to discourage the purchase of private LTCI. For details, see How to Fix Long-Term Care Financing..

Group Defends Stand-Alone Long-Term Care Insurance With Infographic

#long-term
#goldencareagent