by Kristine Grow
January 13, 2017
WASHINGTON, D.C. – America’s Health Insurance Plans (AHIP) has released a new study that takes a look at how today’s consumers, age 50 or older, are preparing for their future long-term care needs.
Prepared for AHIP by LifePlans, Inc., “Who Buys Long-Term Care Insurance? Twenty-Five Years of Study of Buyers and Non-Buyers in 2015-2016” caps 25 years of study of the long-term care marketplace. It includes socio-demographic information about those who buy coverage and those who do not, compares their opinions and attitudes about long-term care insurance, and looks at trends in the products they purchase. Among the findings:
“Our findings reflect that consumers continue to be satisfied with their choices for coverage, and that today’s plans offer solid protection for those looking for greater financial stability,” said Susan Coronel, executive director of product policy for AHIP.
This study follows a recent survey commissioned by AHIP of consumers who have claimed benefits under their long-term care policies. In that survey, conducted by LifePlans, nearly 90 percent of respondents were satisfied with the amount of coverage they purchased. For every 100 people who filed claims, only two were likely to have a disagreement about coverage that was not solved to their satisfaction.