In September 2016, Milliman actuaries Missy Gordon and Amy Pahl published a report entitled “Long-term care rate increase survey.” The results of the survey provide insurers, state regulators, and other stakeholders with some strategies and approaches to filing long-term care (LTC) rate increases. All but two of the 26 companies that participated in the survey filed for at least one LTC rate increase.
Gordon and Shawn Stender recently summarized the report in the April 2017 issue of Long-Term Care News. In the article, the authors highlight several questions that companies and regulators frequently ask regarding LTC rate increases. They also provide answers based on their experience and the LTC survey results, which are grouped into a three-step process.