Key Components of Building Sustainable Long-Term Care Wellness Initiatives

A new paper out this week from Milliman takes a closer look at some of the key components of building and evaluating sustainable long-term care (LTC) wellness initiatives. The paper outlines the general steps and considerations for LTC wellness programs, including:

  • Design considerations
  • Risk framework
  • Measuring success
  • LTC wellness assumptions in long-term projections

Read the full paper here.

This report was authored by Milliman’s Jeff Anderson, Principal & Consulting Actuary and Juliet Spector, Principal and Consulting Actuary. Founded in 1947, Milliman is an independent risk management, benefits and technology firm with offices in major cities around the globe. It serves business, financial, government, union, education and nonprofit organizations.

Data-Driven Pre-Claim Programs Bend the LTCI Claims Cost Curve, New Report Shows

Our partner Nolan Tully recently co-authored a research report, “Data-Driven Pre-Claim Programs Bend The LTCI Claims Cost Curve,” with Assured Allies. In the report the authors discuss an evidence-based program to reduce aging-related disability and help long-term care insurance (LTCI) policyholders remain independent longer.

In the report, Nolan along with Assured Allies’ Afik Gal (co-founder & president) and Andy Freedman (vice president, client experience), detail further:

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2024 Intercompany Long-Term Care Insurance Conference

Faegre Drinker is delighted to sponsor and speak at the 2024 Intercompany Long-Term Care Insurance (ILTCI) Conference, coming up March 17-20 in San Diego. This annual event draws hundreds of attendees from insurance, financial, and other business sectors, and serves as a platform fostering collaboration among insurance regulatory authorities, educational institutes, actuaries, and others with interest in long-term and extended care insurance. We look forward to seeing you in San Diego!

During the conference, Faegre Drinker will be well represented by members of our LTCi team who will be speaking on the following topics:

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Faegre Drinker LTCi Leader Steve Serfass Talks Future of LTCI in New Podcast

Our very own Steve Serfass is featured in a new podcast episode of “Voices of LTCi” from The Helper Bees. In the episode, Steve talks with The Helper Bees CEO Char Hu about creating Faegre Drinker’s long-term care insurance (LTCi) practice and the importance of addressing the legal needs of the industry. He also discusses the path of his legal career and his hopes for the future of the LTCi industry.

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NAIC Privacy Protections Working Group Meets to Discuss New Model Privacy Law

On June 5-6, 2023, the NAIC Privacy Protections (H) Working Group (“PPWG”) held an in-person interim meeting (“session”) to continue its work on drafting a new model privacy law, the Insurance Consumer Privacy Protection Model Law #674 (“Model Law”). Model Law #674 is intended to replace the current Models #670 and #672. The session was intended to be a drafting session focused on certain provisions of the current exposure draft not yet covered during the three preceding PPWG open drafting calls.

During the session, the working group covered third-party service providers, definitions of “insurance transactions” and “additional permitted transactions,” marketing (and joint-marketing agreements), consent to marketing (opt-in versus opt-out), and consumer privacy notices. The PPWG announced it intends to release a new exposure draft (version 1.0) of the Model Law by the end of June to address many of the comments the working group has received and discussed to date. There will be no 60-day comment period for this draft and instead, open calls to discuss drafting will restart once the new exposure draft is released.

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Webinar: How COVID Has Changed Long-Term Care Insurance

Although the masks are for the most part behind us, the residual impacts and effects of COVID-19 will be felt by all for many years to come. In a webinar hosted this week by the Long Term Care Discussion Group, our colleague Sandy Jones (Partner, Philadelphia) discusses some of the considerations for long-term care insurance companies that have been caused by, exacerbated by or are attendant to the COVID-19 pandemic. The Long Term Care Discussion Group is an informal non-partisan networking group of long-term care (LTC) policy, provider, payer, academic and other stakeholders. Visit Faegre Drinker’s event page for more information.

See You Soon! ILTCI 2023 Annual Conference

In just over a week, members of Faegre Drinker’s LTCi team will attend the 2023 Intercompany Long Term Care Insurance Conference in Denver. We are proud to once again support ILTCI as a diamond-level sponsor of the conference and our team will be presenting on a number of panels throughout the Conference. We look forward to connecting with our colleagues and friends throughout the industry. Make sure to check out our team members on the following panels!

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Evaluating Long-Term Care Health Programs

As long-term care insurance (LTCi) claims continue to climb, insurance carriers are also facing the increasing need for additional ways to manage their long-term care insurance (LTC) blocks and find health programs that best work for their policyholders. There are many factors that go into evaluating if an LTC health program is going to be beneficial. A new article, “Evaluating LTC Population Health Programs,” published in Long-Term Care News (February 2023) by the Society of Actuaries takes a closer look at two different methods to measure the impact of health programs.

Authors include Robert Eaton, Juliet Spector, Jeff Anderson, Joe Long, Brian Hartman and Missy Gordon.

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