Long-Term Care Insurance: Wellness Program Impacts on Claims and Health Outcomes

Insurance partner Nolan Tully and associate Jamie Campisi recently coauthored an article for LexisNexis Practical Guidance that discusses how wellness programs can be used to potentially prevent, delay or lower the severity of long-term care claims and improve health outcomes.

They give an overview of the wellness programs, noting that they are largely focused on pre-insurance-claim intervention but that services can be provided to healthy, at-risk and on-claim populations alike. Nolan and Jamie provide examples of wellness initiatives, including engagement initiatives, support wellness interventions and care wellness programs.

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LTCi Carrier Secures Dismissal of Class Action Case Alleging ERISA Violations Stemming from LTC Insurance Premium Rate Increases

A federal judge has dismissed a putative class action case brought by a plaintiff asserting ERISA violations against The Prudential Company of America (“Prudential”) and Tufts University (“Tufts”), stemming from premium rate increases to an ERISA group long-term care insurance plan sponsored by plaintiff’s employer, Tufts, and issued by Prudential.

On July 12, 2022, United States District Judge Richard Stearns granted Tufts and Prudential’s respective motions to dismiss the action, Parmenter v. Prudential Insurance Company of America, et al., No. 1:22-CV-10079, Dkt. No. 43 (D. Mass. July 12, 2022), which was originally filed on January 20, 2022 in the United States District Court for the District of Massachusetts.

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COVID-19 Continues to Impact Attitudes About Long-Term Care, New Survey Shows

As we continue to grapple with the effects of COVID-19 across the country, many Americans believe it is now more important than ever for people to have a long-term care (LTC) plan (88%) and LTC insurance (86%), per the 10th Annual Nationwide Retirement Institute® Long-term Care survey released in mid-November.

However, nearly half of adults across all age groups (45%) say they have not had a conversation about LTC planning with anyone and only 8% have spoken about it with a financial professional. Moreover, industry data show that only 15% of Americans (mostly older consumers) have purchased LTC insurance. The survey also revealed that many adults misunderstand what products actually provide LTC coverage because 25% of adults self-reported that they own a LTC insurance policy. Millennials are the most likely to claim that they currently own LTC insurance (39%), but most say that they bought the insurance at work, evidencing a likely misconception among adults confusing long-term disability insurance with LTC insurance. The survey thus highlights in multiple places the trend of the disparity between knowing the importance of preparing for LTC needs, and actually preparing for those needs.

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