The Future of Wellness Programs Offered by Long-Term Care Insurers

Companies are searching for solutions to the increasing demand for next-generation elder care solutions. As chronic conditions like Alzheimer’s Disease and other forms of dementia increase in the elder population, the necessity for in-home care rises. Insurers finding new ways to meet these needs face hurdles in state regulations on insurance rebating and the tax qualified status of wellness policies. The insurance community is keeping a close eye on potential overhaul of anti-rebating provisions and support for programs intended to allow those in need of long-term care to remain at home.

In countless surveys, seniors articulate a strong desire to remain in their homes as they age, even if they develop conditions that will require long-term care. At the same time, providing care in the home is more cost-effective and can allow for the provision of more tailored care, accounting for each individual’s medical conditions and desires. In response to this data, many companies have moved to try to meet the desires of aging Americans through a wide variety of methods. Companies have focused on meal preparation and delivery, home modification, medication management, socialization/preventing isolation, caregiver support, technological monitoring and emergency alerts, and care delivery (both in-person and virtual). While many of these companies — and the ideas they are pursuing — are in their infancy, the available data supports the viability of their efforts and aims.

Read the full article on the Faegre Drinker website.

Nolan Tully

About the Author: Nolan Tully

Nolan Tully advocates for insurance and financial services clients facing challenges in various aspects of their businesses. Nolan assists life, long-term care and disability insurers as well as annuity issuers with product development, regulatory compliance, and dispute resolution and litigation. Visit Nolan's bio on the Faegre Drinker website.

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