Speakers: Juliet Spector and Jeff Anderson
ABOUT THE TOPIC:
With the goals of improving sustainability of long-term care insurance (LTC) blocks of business, implementing fewer rate increases, and greater product innovation, the private sector LTC insurance market has increased its attention on LTC wellness and aging-in-place programs. These programs are broad and vary, but all share the overall goals of improving health outcomes, reducing the severity of future claims, and reducing overall LTC costs. Although the idea of wellness is not new in healthcare, LTC carriers and vendors have been intensely focused on it in the last few years, as proven wellness strategies that work in healthcare have shown promise in optimizing the use of scarce and costly healthcare resources.
It is important for stakeholders to understand the components of LTC wellness arrangements, as well as the practical issues and impediments that contribute to success or failure. Many in the LTC market believe increased knowledge sharing, technological improvements, and identifying best practices can continue to increase the success of LTC wellness plan initiatives and the overall health and wellness of LTC policyholders.
Our speakers will discuss the key themes critical to program success and the important considerations for designing, evaluating risk, and measuring the results of LTC wellness programs. As stakeholders become more skilled at managing the practical details of LTC wellness and enhance their infrastructures to collect and process meaningful quality and savings metrics for their target populations, defining the key features that hinder or support the success of LTC wellness programs will become easier. In doing so, providers and stakeholders will refine and implement more sophisticated models to better manage LTC paid claims and policyholder experience.
A link to the August 6 report can be found here Long-term care wellness initiatives: Key components of building and evaluating a sustainable program (milliman.com)
ABOUT THE SPEAKERS:
Juliet Spector is a Principal and Consulting Actuary at Milliman. She offers expertise and guidance to both providers and insurers in understanding and estimating the complex financial risks associated with healthcare and long-term care costs. She has extensive experience with long-term care insurance including expert witness work, cash flow testing, mergers and acquisitions, financial reporting and reserve development, administrative conversion, first principles modeling, stochastic modeling, state insurance department rate filings, experience analysis, product development, pricing, and international work. She is a Product Manager for Milliman’s LTC Advanced Risk Analytics (LARA) product. Her combined experience in value-based care and long-term care gives her a unique perspective in the LTC Wellness space. And allows her to leverage learnings from ACOs and wellness vendors in other healthcare spaces to LTC. She is the editor of the Milliman LTC Newsletter, served on the SOA LTC Section Council, and edited the LTC Section Council Newsletter.
Jeff Anderson is a Principal and Consulting Actuary at Milliman. He has worked to support clients through various aspects of long-term care insurance since 2009. He has extensive experience in experience analysis, assumption development, and first principles modeling. He has also supported clients in mergers and acquisitions, pricing, state insurance department rate filings, valuation, asset adequacy testing, and financial reporting. He is a Product Manager for Milliman’s LTC Advanced Risk Analytics (LARA) product and has supported multiple insurance carriers as they develop, implement, and evaluation long-term care wellness and aging-in-place programs.
ACCESSING THE MEETING: The registration link for the meeting is https://us02web.zoom.us/meeting/register/tZ0tdeCsqzovHtbB1ui3TIOpOmBjrWEL6_7L