Long-Term Care Insurance Rates Increased by 9% in 2014
Long-term care insurance rates last year increased by almost 9% on average, according to a report by the American Association for Long-Term Care Insurance. Jesse Slome, executive director of the AALTCI, said higher claims costs contributed to the increase. Specifically, insurers’ claims costs increased by almost 5% in 2014, with insurers paying $7.8 billion.
- "Long-Term Care Insurance: Costs Are Up but Vary Widely" (Carrns, New York Times, 2/19).