$7.8 Billion in Long Term Care Insurance Claim Benefits Makes National News

Los Angeles, CA – February 24, 2015;  The American Association for Long Term Care Insurance reported today that the nation’s long term care insurance companies paid a record $7.85 billion in claim benefits to 250,000 individuals in 2014 according to a just-released report.

“Total long term care insurance benefit payments increased by five percent from $7.5 Billion paid the prior year,” reports Jesse Slome, director of the American Association for Long Term Care Insurance (AALTCI), the national trade group.   The organization reported that insurers paid $6.6 billion to some 264,000 policyholders in 2012.

“Americans are living longer and the consequence is more people needing long term care,” Slome explains.   ”Contrary to what most people think, the vast majority of long term care insurance pays for care in the home or in assisted living communities, not in skilled nursing homes.”  According to AALTCI research, half of all newly opened long term care insurance claims paid for care in the home.  “Consider long term care insurance as nursing home avoidance protection,” Slome adds.

The following are links to a number of major media reporting the news.

Yahoo Business

Boston, Boston Globe

Arizona Republic

Minneapolis Star Tribune

Buffalo News

San Jose Mercury News

MarketPlace, National Public Radio





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