Long Term Care

The Actuarial Research Corporation has been extensively involved in research efforts to determine  the feasibility and cost of insuring long term care services. The firm has also assisted various government agencies in investigating alternative means of financing long term care by developing estimates  of the future cost of long term care. These include several seminal studies, including:

• Analyzing the capitation rates used for long-term care services under the Arizona AHCCCS program.
• Long Term Care, Actuarial Cost Estimates for CBO. This study pioneered the demographic projection technique to project  future long term care needs and costs.
• Estimates for a study to develop a long term care component for Medicare or to include long term care services in national health insurance programs.
• Development of an actuarial data base and premium rate model for a prototype long term care private insurance product.

The firm has taken advantage of the pioneering work of the type described above to advise clients concerning the opportunities in insuring long term care services. The firm has provided consulting services in various aspects of planning for, developing, rating, and sensitivity analysis of long term care insurance products.