Tag: long term care planning

$13.5 Billion in Long-Term Care Insurance Claims Paid In 2022

G. Turner
long term insurance claims report just in

Insurers paid out $13.25 Billion in long term care insurance claims during 2022 according to a new report released this week by the American Association for Long-Term Care Insurance (AALTCI). “Consumers need to understand that long-term care insurance companies have paid benefits to millions of Americans over the past decades,” says Jesse Slome, AALTCI’s director. “In fact, each year, insurers pay more in claim benefits to more beneficiaries than the prior year.” According to Slome, some $12.3 Billion in claim benefits was paid out in 2021. “The over $1 Billion increase…

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Long term care insurance study shows heightened need for coverage planning

H. Cutner
Long Term Care Insurance Research

A report from the AALTCI has shown that education is required when planning for options later in life. The American Association for Long Term Care Insurance (AALTCI) has just released the results of a national study that has identified and underlined the tremendous toll that is being taken by the overwhelming majority of adults who are providing the care services for an aging spouse or parent. Every year, these individuals are providing billions of dollars worth of services, completely unpaid. The director of the national trade group for the long…

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Health care reforms haven’t eliminated LTC struggles

Too good to be true life insurance

Problems with long term care costs are one riddle that remains unsolved by the federal overhaul. Although the health care reforms of 2010 were designed to help to make coverage and care affordable and available to all Americans, the insurance news issue of long term care insurance and the rising expenses associated with it is not among the problems being dealt with by the changed laws. The question of how to pay for LTC costs is still nagging the country and its aging population. The health care reforms were designed…

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Long term care insurance most common claim is Alzheimer’s disease

Julie Campbell
Long Term Care Insurance

This form of dementia causes a significant percentage of LTC nursing home claims. According to an American Association for Long Term Care Insurance report, the leading cause of nursing home claims paid for by this type of coverage is Alzheimer’s disease. Just over one quarter of LTC insurance claims are the result of the mental illness. Data from the Alzheimer’s Association has shown that at the moment, there are 5.4 million people in the United States with the condition, and that one out of every eight older Americans has it.…

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