Thursday, March 30, 2023
2:00 - 3:00 pm
Eastern Time
Exploring Stakeholder Perspectives on State-based Catastrophic Long Term Care Coverage
Speakers: John Cutler and John O’Leary
ABOUT THE TOPIC:
The Society of Actuaries (SOA) Research Institute’s Aging and Retirement Strategic Research Program sponsored this exploration of stakeholder views on the feasibility and efficacy of a public catastrophic LTC insurance program at the state level. Minnesota was chosen because of its background as a state proactive in addressing aging and long term care issues. Based in part on prior work on federal catastrophic, including research by Marc Cohen, Judy Feder, Melissa Favreault, the Long-Term Care Financing Collaborative and others, this is the first phase of a study to explore stakeholder perspectives on catastrophic (backend) coverage at the state level. To do this, the authors defined two theoretical designs and then solicited feedback from a variety of Minnesota stakeholders.
Highlights of the research include:
Broad support for the concept and acknowledgement of its challenges
Concerns about the feasibility of a tax increase to finance such a program
Recognition of the value of properly interfacing a social insurance program with both Medicaid LTC coverage and private LTC insurance
The report can be accessed here:
About the Speakers
John Cutler, Esq. Over the last 30 years, John Cutler has specialized in Medicare, long term care insurance, aging policy and insurance benefit design. Since his retirement from the federal government in 2015, he has maintained a consulting business. His clients include the Society of Actuaries (SOA), exploring catastrophic public long term care insurance coverage. as well as the Minnesota Department of Human Services, looking at how to add home care benefits to Medicare as supplemental coverage.
Previous positions include the US Office of Personnel Management (OPM) where he was the architect and Project Leader for the Federal Long Term Care Insurance Program. John joined the federal government in 1997 as a Health Policy Analyst in the Office of the Assistant Secretary for Planning and Evaluation (ASPE) at HHS. Prior to that, he worked at AARP, with responsibility for regulatory and compliance matters involving AARP's insurance products. John has a BA from the University of Virginia and a law degree from the University of Georgia.
John O’Leary, MBA. John is President of O’Leary Management Associates LLC, a consulting practice dedicated to helping organizations plan, develop, and implement strategic, product, and market solutions for the aging market. John’s career in long-term care includes senior marketing and product development positions at Genworth Financial, CNA Financial, and John Hancock. He is a recognized expert on the topics of long-term care and long-term care financing. He consulted on and authored the Society of Actuaries (SOA) Long-Term Care Think Tank Research Study entitled “Land this Plane.” John has consulted with the State of Minnesota on their Own Your Future Long-Term Care reform initiative since 2014. His other clients have included the Society of Actuaries, Philips Lifeline, The Harvard Medical School, LeadingAge and the SEIU labor organization. In addition, he worked on the Technical Advisory Panel for an economic modeling project on long-term care financing conducted by Milliman and the Urban Institute. John was co-chair of the SOA Long-Term Care Think Tank from 2014 to 2020, where he was an integral contributor to a landmark consumer research study funded by the Society of Actuaries. From 2015 through 2020, John was also co-chair of the Alternate Solutions Track and co-chair of the Aging in Place track in 2021 for the Intercompany Long-Term Care Insurance Conference. He was one of three co-chairs for the LTC Tech Summit held in November 2019 in Sunnyvale California. John has an MBA from the Harvard Business School and a BA in Political Science from Northeastern University.
TO ACCESS THE MEETING:
Join Zoom Meeting
https://us06web.zoom.us/j/87488356398
Meeting ID: 874 8835 6398