Long Term Care Insurance Association Reports Positive Claims Data
The American Association for Long Term Care Insurance worked with a leading insurer to create heightened awareness regarding the benefits of owning long term care coverage.
Los Angeles, CA, February 20, 2015 --(PR.com)-- Positive news for the nation's aging senior population and taxpayers. An increasing number of individuals who possess long-term care insurance are receiving benefit payments.
"There are presently some eight million Americans who possess some form of long-term care insurance coverage and an increased number are now starting to claim benefits," explains Jesse Slome, director of the American Association for Long-Term Care Insurance.
Contrary to most perceptions, the majority of new claims are for services received in the policyholder's own home. "People mistakenly associate long-term care insurance with skilled nursing home care, but our yearly research finds that over half (51%) of all newly opened claims begin with home care," Slome shares.
The Association worked today with one leading long-term care insurance company to help create heightened awareness of the growing importance of this form of protection. "There's much media coverage about the importance of long-term care planning but rarely is the story told of how this benefits real people today," Slome shares. "We salute MedAmerica Insurance Company for their help in enabling our organization to tell this important and powerful story."
"In 2014 we paid $105 million in claim benefits, a 12 percent increase over the prior year," reports Bill Naylon, President of MedAmerica Insurance Company a leading provider of long-term care insurance protection. "As more Americans purchase this important protection and existing policyholders reach the age when care is often needed, we are prepared to continue delivering on our promise to pay."
Slome adds that the Association has projected the value of claims paid industry wide will continue to grow. "Billions of dollars are paid every year and that helps people get the quality of care they want, helps avoid turning family members into unpaid caregivers," Slome explains.
To learn more about long-term care insurance planning including ways to reduce costs for this important protection, visit AALTCI’s website or call 818-597-3227.
"There are presently some eight million Americans who possess some form of long-term care insurance coverage and an increased number are now starting to claim benefits," explains Jesse Slome, director of the American Association for Long-Term Care Insurance.
Contrary to most perceptions, the majority of new claims are for services received in the policyholder's own home. "People mistakenly associate long-term care insurance with skilled nursing home care, but our yearly research finds that over half (51%) of all newly opened claims begin with home care," Slome shares.
The Association worked today with one leading long-term care insurance company to help create heightened awareness of the growing importance of this form of protection. "There's much media coverage about the importance of long-term care planning but rarely is the story told of how this benefits real people today," Slome shares. "We salute MedAmerica Insurance Company for their help in enabling our organization to tell this important and powerful story."
"In 2014 we paid $105 million in claim benefits, a 12 percent increase over the prior year," reports Bill Naylon, President of MedAmerica Insurance Company a leading provider of long-term care insurance protection. "As more Americans purchase this important protection and existing policyholders reach the age when care is often needed, we are prepared to continue delivering on our promise to pay."
Slome adds that the Association has projected the value of claims paid industry wide will continue to grow. "Billions of dollars are paid every year and that helps people get the quality of care they want, helps avoid turning family members into unpaid caregivers," Slome explains.
To learn more about long-term care insurance planning including ways to reduce costs for this important protection, visit AALTCI’s website or call 818-597-3227.
Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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