Topic: Long Term Care Population Model: Making Sense of LTC Financing Proposals

Discussion of long term care (LTC) benefit offerings often focuses on cost and risk management. However, the benefit’s impact on those with an LTC need is just as important. The Society of Actuaries has released the “Long-Term Care Population Research Model”, an Excel-based model which estimates the potential impact of a public long-term care menu of benefits on beneficiary finances and service utilization. The model is meant to be used as a resource to describe the population with LTC needs and examine potential benefit impacts at a high level. The model and user guide can be found here https://www.soa.org/resources/research-reports/2024/ltc-population-research-model/

This session will introduce the LTC Population Research Model and demonstrate how it can be used to examine the potential consumer impacts of illustrative front-end and catastrophic public benefit plans. The model allows users to define a benefit by changing parameters such as the daily benefit amount, elimination period, benefit period, and so forth. 

About the Speaker:

Eddie Armentrout

Eddie is an actuary with experience in long-term care policy analysis and Medicare and Medicaid payment systems. He has participated in the analysis of public LTC proposals including the CLASS Act and state initiatives in Hawaii, Washington, and Minnesota. These efforts included the development of proposed benefits, estimates of potential consumer impacts of the programs, and estimates of program financing requirements. Eddie graduated from the University of Virginia, and he is an Associate of the Society of Actuaries (ASA) and a Member of the American Academy of Actuaries (MAAA).

Accessing the Meeting:

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When: Jan 14, 2025 01:00 PM Eastern Time (US and Canada)

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