Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Life Insurance > Term Insurance

Researchers organize LTC finance workshop

X
Your article was successfully shared with the contacts you provided.

Researchers seem to be organizing a workshop on long-term care (LTC) finance without high-level input from members of the private long-term care insurance (LTCI) community.

The behavioral and social sciences division at the Board on Health Sciences Policy, part of the federal Institute of Medicine, is planning to start the one-day workshop at 9 a.m. Wednesday.

At press time, the workshop agenda was not available.

Some of the members of the behavioral and social sciences division advisory committee are economists, but the words “actuary” and “insurance” do not appear in the members’ biographies.

In a description of the purpose of the workshop, organizers said there is a disconnection between the medical system and the social services system when it comes to keeping seniors and adults with disabilities in the setting of their choice in the community.

“Underpinning all aspects of successful community living and independence for people who are aging and/or with disabilities is the importance of a holistic person-centered planning process that addresses health and long term services and support needs in a manner that reflects individual preferences,” organizers said.

LTC finance has become a significant issue both for the people who need the services and for the country as a whole, organizers said.

“Medicare plays no role in financing [long-term services and supports (LTSS)], and relatively few people have purchase private long term care insurance (about 6-7 million policies currently),” organizers said. “With the projected demographics for the aging of our population, these numbers are expected to increase exponentially.”

The workshop speakers will talk about LTC financing trends and “consider the role of families, business, and government” in LTC finance, organizers said.

Workshop organizers said they also want to focus attention on matters such as personal savings for LTC needs, “intergenerational transfers” (estate planning), and “the role of short- and long-term disability insurance plans.”

See also:


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.