Archive of long-term care

SOA Insights from the NAIC Spring National Meeting 2015

At the end of March, insurance industry professionals gathered in Phoenix, Arizona, for the Spring National Meeting of the National Association of Insurance Commissioners (NAIC). SOA members and staff

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Where the Puck is Going (and SOA’s Research Activities) Thumbnail

Where the Puck is Going (and SOA’s Research Activities)

With the NHL playoffs underway, hockey is grabbing attention in the minds of sports fans around the world.  While we didn't have hockey as an official sport at my high school in northeast Ohio, I

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21Dec2011
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SOA Blog
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Healthcare
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Will the demise of CLASS be a net positive or negative for the private LTCI market? Thumbnail

Will the demise of CLASS be a net positive or negative for the private LTCI market?

by Malcolm Cheung, vice president, Prudential Financial The decision by HHS to not proceed with implementation of CLASS is not a big surprise from my perspective.  As defined in the ACA legislation, CLASS clearly had design features that would have invited significant adverse selection that would have jeopardized its long term actuarial viability.  Although changes to the program could have increased its chances of success, it appears that HHS has concluded that they either did not have the authority to make those changes without new legislation, or that they did not want to risk the political ramifications (especially in an election year) of arguing that they did have that authority.  From the perspective of the private LTC insurance industry, what is encouraging in the letter that Secretary Sebelius has sent to both houses of Congress is her recognition that insurance coverage for potential LTC expenses is critical to reducing the strain that these expenses will ultimately have on state and federal Medicaid budgets, as well as important in helping Americans preserve their options when they need this care. (more…)

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