“Group Sees Long-Term Care Insurance Claims Rising”

Group Sees Long-Term Care Insurance Claims Rising,” by Allison Bell, ThinkAdvisor


Quote:

“Long-term care insurance (LTCI) providers paid $11.6 billion in benefits to 325,000 claimants in 2019. The American Association for Long-term Care Insurance (AALTCI) is reporting those figures in a new batch of LTCI market data. The total amount of LTCI benefits paid was 5.2% higher in 2020 than in 2019, and the number of claimants increased 4.8%, according to AALTCI. … The average amount of benefits paid per claimant increased to about $35,700, from about $35,500.”

 

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

Think of how much more and faster LTCI claims would be rising (and taxpayers’ Medicaid liabilities declining) if the government hadn’t pulled the rug out from under the industry by artificially deflating interest rates forcing premiums up and by crowding out demand by paying for most expensive LTC through Medicaid.