Insurers paid $8.5 billion in long term care insurance claims for 180,000 U.S. insureds in 2008, the American Association for Long Term Care Insurance reports.
The AALTCI, Westlake Village, Calif., has published those figures in a summary of results from a survey of the six leading LTC carriers.
About 9% of the new individual claims were filed on behalf of insureds ages 69 and younger; 31% on behalf of insureds ages 70 to 79; and 61% on behalf of insureds ages 80 and older.
Almost two-thirds of the claimants were women, and 42% of the benefits payments were for care in the insured’s own home. Only about 31% of the benefits paid for nursing home care.
The 5 most common reasons for a LTC claim were Alzheimer’s disease, stroke, arthritis, circulatory issues or injury.