Long-Term Care

Federal and state long-term care issues, including the CLASS Act and LTC pricing/valuation.

Co-chairperson of the Joint Academy/Society of Actuaries CLASS Act Task Force Steve Schoonveld presentation on the Community Living Assistance Supports and Services (CLASS) program before the National Conference of Insurance Legislators (NCOIL) Summer Meeting in Newport, RI. (July 16, 2011)
Community Living Assistance Services and Supports (CLASS) Act Task Force testimony to the U.S. House Committee on Energy and Commerce Subcommittee on Health regarding the CLASS program. (March 17, 2011)
Long-Term Care Practice Note Work Group letter to the NAIC regarding the formation of a new work group in charge of updating the Academy's 2003 practice note, Long-Term Care Insurance Compliance with the NAIC LTCI Model Regulation Relating to Rate Stability. The letter also outlines the proposed tasks and timeline for completion. (February 17, 2011)
Steven Schoonveld presentation before the July 11 National Conference of Insurance Legislators (NCOIL) Summer Meeting. The presentation focuses on educating lawmakers about the CLASS Act (the new voluntary, long-term care services program). (July 11, 2010)
Letter to NAIC regarding the joint Academy State LTC Task Force and SOA Valuation Committee project to develop and recommend valuation morbidity tables for long-term care insurance. (February 22, 2010)
Federal Long-Term Care Task Force letter to the Senate Committee on Health, Education, Labor and Pensions regarding actuarial issues and policy implications on the the Community Living Assistance Services and Supports Act (CLASS Act). (July 22, 2009)
LTC Principle-based Work Group presentation providing an update to the A&HWG and requesting feedback on work to date by the LTC Principle-based Work Group. (March 31, 2007)
State LTC Task Force Principles-based Valuation Subgroup presentation to the NAIC Life and Health Actuarial Task Force discussing the current valuation of LTC policies, potential sources of changes to the valuation of LTC policies, and key concerns for LTC. (June 1, 2006)
Subgroup on LTC Experience Forms letter that addresses several issues raised by the NAIC in response to the Academy's Long-Term Care Experience Subgroup's May 20, 2005 letter with proposed revisions to the LTC experience reporting instructions and forms. (August 18, 2005)
Letter to the NAIC from the LTC Experience Forms Subgroup on proposed LTC loss experience exhibit forms (Forms 1, 2, and 3) along with the proposed instructions. This was updated in August 2005 in a subsequent letter to NAIC. (May 20, 2005)
Supplement to the June 2004 report to the NAIC with a recommendation for a new long-term care RBC formula. (September 1, 2004)
Long Term Care Risk Based Capital Work Group report on the review of the Managed Care Organization RBC formulas for LTC describes the source of data, methodology, analysis, and recommendations. It reflects revisions based on feedback from members of the NAIC subgroup after the interim report was released in June 2003. (June 1, 2004)
Long-Term Care Reserve Work Group letter to NAIC that illustrates the anticipated impact of various hypothetical changes in the mortality, voluntary lapse, interest and morbidity valuation assumptions on net renewal valuation premiums and contract reserves by policy duration. (September 10, 2003)
Long-Term Care Risk-Based Capital Work Group letter to the Deputy Insurance Commissioner of Pennsylvania responding to concerns regarding total asset adequacy as it relates to the Long-Term Care RBC Work Group's interim report. (September 8, 2003)
Long-Term Care RBC Work Group interim report on the Managed Care Organization Risk Based Capital formulas for Long Term Care (LTC) insurance products and described the source of data, methodology, analysis, and recommendations. (June 22, 2003)
Update on the progress of six subgroups of the LTC Reserve Work Group: experience forms, morbidity improvement, credibility, termination experience, long-term objectives, and reserve assumptions in relationship to rate changes. (June 12, 2003)
LTC Reserve Work Group outline of the proposed near-term and long-term objectives as they relate to the NAIC's request for the Academy to review the reserve methodology for LTC insurance. (March 7, 2003)
Long-Term Care Risk-Based Capital Work Group status update to the NAIC on the progress of the LTC RBC work group. (December 6, 2002)
Status report to the NAIC Senior Issues Task Force from the Academy's LTC Work Group on progress toward the completion of an actuarial practice note that provides guidance to actuaries filing LTCI rates under the NAIC LTCI Model Regulation relating to rate stability. (December 6, 2002)
Status report to the NAIC Senior Issues Task Force from the Academy's LTC Work Group on progress toward the completion of an actuarial practice note that provides guidance to actuaries filing LTCI rates under the NAIC LTCI Model Regulation relating to rate stability. (March 1, 2002)