Long-term care
Long-term care
Creating coverage that lasts
Milliman long-term care solutions
Comprehensive claims data
Milliman long-term care insight
Estimating Member-Level Treatment Effects with Uplift Modeling
In long-term care, uplift modeling could serve as a valuable tool, helping actuaries and statisticians analyze the effectiveness of new wellness programs.
Integrated and first principles modeling for hybrid life and health products
We discuss the two main model types for modeling Hybrid Life and Health products - a claim cost model and an integrated first-principles model - and the pros and cons of each.
Combination products: An accelerated education
Combination products provide valuable, and often substantial, health insurance coverage in the framework of a life insurance or annuity policy.
Developing alternative options during LTC premium rate increases: Company considerations and regulatory perspective for offering reduced benefit options
This article explores in detail two methods of developing reduced benefit options: the future loss ratio neutral approach and the cash flow neutral approach.
The home stretch: Accessing home value to fund long term care
We describe new approaches to long-term care financing that rely on home equity release, and several of the challenges individuals face.
Living benefit riders to life insurance policies: Pricing considerations and strategy
We discuss key product development and pricing considerations, the advantages of offering many living benefit riders on a single life insurance policy, and considerations when filing these products for review and approval for entering the market.
Economic and external factors that influence Long-Term Care claims
We consider that actuarial assumptions based on historical data reflect some level of labor demand and supply and therefore immigration has played–and will play–an important role in this equation.
Accelerated death benefit rider financing approaches
This article outlines industry practice and consideration for pricing of acceleration-only policies, a hybrid product where riders provide policyholders the opportunity to receive a portion of the policy’s death benefit in advance, under certain conditions.
Innovation and long-term care insurance
How tech is enabling the future of this insurance product
Long-term care aging-in-place initiatives
A survey of industry participants.
Conservation of mortality and assumption integrity
Conservation of mortality, also known as “preservation of deaths” or “conservation of total deaths,” is the modeling principle an actuary may use to ensure consistency between assumptions of the total mortality of a population, and the assumptions of mortality among population subsets. This principle is an important consideration to maintaining assumption integrity.
Impacts and considerations of statistical bias in LTC due to benefit reductions
We discuss the experience study impacts and considerations, as well as impacts on lifetime loss ratios and cohort evaluation considerations.
Long-term care wellness initiatives: Key components of building and evaluating a sustainable program
To best evaluate whether long-term care wellness programs produce claim savings, carriers need to perform a robust analysis of results, among other steps.
Milliman long-term care products
Long-Term Care Advanced Risk Analytics (LARA)
Integrate
IntelliScript
