June 2015
In This Issue
Innovative Ideas for Private LTCI Policies and Their Distribution from Bipartisan Policy Center
LTCI in 2015: Why There’s Cause for Optimism
Group LTC Underwriting: SI is the new GI
Dog Bites Man
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Innovative Ideas for Private LTCI Policies and Their Distribution from Bipartisan Policy Center
by Sally Leimbach

The Bipartisan Policy Center (BPC) reported at the 15th Annual Intercompany Long Term Care Insurance Conference that they will release a report in March of 2016 in an effort to influence federal LTC legislation improving both the public and private sectors, financing and the delivery system. Through SCAN funding, BPC is being assisted by actuarial modeling provided by the Urban Institute and Milliman. The three major categories of concentration are private LTCI, possible new LTCI programs and the impact of making changes to the Medicaid system.

Following is a list of ideas being considered to suggest by BPC for changes in private LTCI product offerings:

  • non-level premiums
  • annually rerated premiums
  • high deductibles or long elimination periods
  • coinsurance
  • alternatives to currently available inflation protection options
  • cash benefits or discounted cash benefits
  • high deductible with catastrophic public sector, aka a “back stop”

You will recognize that some of these have already been tried or are currently available in one form or another. Two BPC private LTCI distribution ideas are integrating with 401(k)s or 403(b)s and pair LTCI with health insurance (e.g. pair with Medicare Supplement Insurance).

Private LTCI is an important part of the solution for America’s aging population. NAHU is pleased that the BPC is taking such an active role in bringing this message to Congress and to the American people. The report is much anticipated.

For more information about the BPC, visit bipartisanpolicy.org.

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