U.S. private long-term care insurance (LTCI) issuers have reported paying $7.85 billion in LTCI benefits for 250,000 insureds in 2014.
The American Association for Long Term Care Insurance (AALTCI) is reporting those figures in an announcement of its latest claim report update. The LTCI benefits payment total increased about 5 percent, from $7.5 billion, for 2013, AALTCI says.
AALTCI bases the benefits payment data on results from an insurer survey.
The last time AALTCI made more detailed numbers available, two years ago, it was reporting that insurers had paid a total of $6.6 billion in LTCI benefits for 264,000 insureds for 2012.