Reviving Long-Term Care Insurance: Trends and Insights

In this episode of Healthcare Happy Hour, host David Saltzman speaks with NABIP Long-Term Care Working Group Chair Lori Martin and Steve Cain, director at LTCI Partners, about the current state of long-term care insurance. They discuss the resurgence of the market, driven by demographic shifts and state initiatives like the Washington CARES Fund. The conversation highlights the importance of worksite benefits, the variety of products available, and the role of NABIP in advocating for long-term care solutions. The episode emphasizes the need for education and awareness among employers and benefit professionals regarding long-term care planning.

Takeaways

• There is a growing small group long-term care market.
• The Washington CARES Fund has influenced other states.
• Demographic shifts are increasing the need for long-term care planning.
• Worksite long-term care insurance is becoming more popular.
• Guaranteed issue plans provide coverage for those with health issues.
• Hybrid plans are gaining traction in the market.
• Employers are recognizing the impact of caregiving on productivity.
• NABIP is actively engaging with legislators on long-term care issues.
• The long-term care market is stabilizing after past volatility.
• Education is key for benefit professionals to understand available options.

Chapters

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