Paid Long-Term Care Insurance 2022 Claims Grow

Long-term care insurance companies paid out a record $13.25 Billion in 2022 according to the American Association for Long-Term Care Insurance (AALTCI). “Claim benefit payouts for policyholders with traditional long-term care insurance coverage grew from $12.3 Billion in 2021,” reports Jesse Slome, AALTCI’s director. “The increase in benefit payouts is expected as policyholders age and start to require care.” For calendar-year 2018 the Association reported that long-term care insurers paid out $10.3 Billion. According to Slome, the amount reported represents claims for those owning traditional or health-based long-term care insurance. “Data for linked-benefit policies is harder to calculate because there
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Categories: GoldenCare News, Industry News, and Long-Term Care.