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May 05, 2014 at 01:10 PM
Maybe long-term care insurance (LTCI) is ready to go through a rebound.
Insurers are still bragging more about how much they’re raising premiums and how “disciplined” they’re being about underwriting than celebrating any increase in LTCI sales.
Consumers group representatives — who may still be smarting from the gory death of Ted Kennedy’s beloved, if ill-formed, CLASS Act voluntary long-term care (LTC) benefits program — continue to take whatever chance they have to kick the private LTCI concept as hard as they can, without ever seeming to give much attention to the idea that every public or private post-retirement benefits program with honest accounting faces similar challenges.
But, on the other: Almost anyone who puts out a report on long-term care (LTC) finance seems to concede that there has to be some kind of role for private finance, and the insurers that still have LTCI programs seem to be holding on to them.
Partly, maybe because of a sense that a slowly breathing LTCI program will perform better than a closed block, but maybe, also, because executives have a sense that private LTCI matters.
