San Antonio — People who are now collecting private long-term care insurance (LTCI) benefits are generally happy with those benefits and the coverage issuer.
Marc Cohen, the chief research and development officer at LifePlans Inc., gave that assessment on Tuesday at the Intercompany Long-Term Care Insurance (ILTCI) Conference, during a session on new survey data from America’s Health Insurance Plans (AHIP).
The AHIP survey results came from a random sample of LTCI holders who are now collecting on claims filed with eight carriers. The sample excludes people who are not collecting benefits because insurers denied their claims.
But 94 percent of the participants said they were “satisfied” or “very satisfied” with their LTCI coverage, according to Cohen, who helped analyze the data. Sixty-nine percent said that any disagreements that did crop up were resolved to their satisfaction.
Cohen also pointed out that more than 80 percent of LTCI benefits money is going to pay for home- and community-based care, not nursing home care.
For a look at what Cohen said about the dollar value of the LTCI benefits that the survey participants are getting, watch the following video.
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