Long-term care insurance (LTCI) industry actuaries are thinking about the kinds of COVID-19 impact data they want, and what they might do with that data.
But, at this point, LTCI industry actuaries mostly are relying on the same types of federal government data and Johns Hopkins University tracking site data that members of the general public are using.
“There are no known industry sources of this data as of August 2020,” according to members of the Long-Term Care Reform Subcommittee at the American Academy of Actuaries.
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The subcommittee members talk about COVID-19 data and questions in a newly released issue brief, “Impact of COVID-19 on Long-Term Care Insurance,” that was drafted over the summer.
The academy is a Washington-based group that aims to advise federal, state and local policymakers on Social Security, Medicare, Medicaid, public employee pension plans, and other programs and issues that involve insurance or pension risk.
The academy issue brief authors write that the kinds of pandemic statistics collected by the U.S. Centers for Disease Control and Prevention (CDC) and the Centers for Medicare and Medicaid Services (CMS) may not necessarily give a clear picture of what’s happening to the people who have private LTCI coverage.