- The Future Of Insurance – Post COVID 19
What a difference 6 weeks makes
As we entered this new decade at the start of 2020, industry assessments reflected a positive outlook with increased growth potential expected, despite the low interest rate environment that historically has challenged insurers. What a difference in just a short 6 weeks on the outlook for the insurance industry as a result of COVID-19.
read more - American Academy of Actuaries: Medicare’s Financial Challenges Persist
Serious issues with Medicare’s financial condition persist
An analysis of the recently released 2020 Medicare Trustees Report by the American Academy of Actuaries notes that the serious issues with Medicare’s financial condition persist, a situation that if left unaddressed could shift growing financial burdens to future taxpayers and beneficiaries.
read more - The Pulse of Insurance Shopping During COVID-19
Consumers are home and in a “money-saving” mode, and more responsive to inquiries
Consumers are home and in a “money-saving” mode, and more responsive to inquiries New buyer-data from Jornaya, a market research company. Contributed by Jornaya’s GM of Insurance Jaimie Pickles and Senior Director Jeff Piotrowski. Reprinted with permission. Visit here for more information. April 14th, 2020 — As insurance carriers and agencies continue to adjust to…
read more - Crisis, Caring & A Long-View For Long-Term Care
COVID19 is giving way to thinking about a long term solution to eldercare
As eldercare has become top of mind for many Americans during the Coronavirus crisis, a new survey conducted by PSB Research for Saturday Insurance, finds Americans are increasingly considering long-term care options for their parents.
read more - How COVID-19 Is Affecting Life Insurance in the U.S. and Canada
For most, 'no significant change in applications'
LIMRA surveyed 47 U.S. life insurers and 12 Canadian life insurers to learn what, if any, changes they were making due to the COVID-19 pandemic and the federal and state social distancing guidelines.
read more - Advising In A Time Of Crisis
Six things brokers can do today to position their business for success later
by Jim McGovern
We knew early on that 2020 would be an important year for the employee benefits industry, with a strong economy and talent-recruitment landscape creating an appetite for worksite-based voluntary insurance products. COVID-19 is quickly making an impact on many businesses’ trajectories and causing long-term uncertainty.
read more - The Real Reasons People Decide to Buy Long-Term Care Insurance
A decision that is bigger than budgets and more about family
by Dennis Ho, FSA, CFA®
In simple terms, long-term care insurance is about paying for assisted living or nursing home care as you age or in the event of a chronic condition or disability. Deciding whether it makes sense for you can seem like a basic math equation.
read more - With Covid-19 Outbreak, Life/Health Insurers Get Real World Test of Enterprise Risk Management Programs
Will 'pandemic scenario' preparations, installed after 2007 crisis, work?
AM Best believes insurers have done well in implementing improved enterprise risk management (ERM) controls since the financial crisis a decade ago, but until the COVID-19 virus outbreak, these changes have not faced a significant test.
read more - New Financial Stress Survey Shows How Workers Deal with Unexpected Expenses
Voluntary Benefits are One Way Employers Can Offer Alternatives to Credit Card Debt
Unexpected expenses can derail budgets and send those living paycheck-to-paycheck further into credit card debt. Results of a survey conducted online by The Harris Poll on behalf of Purchasing Power® in December 2019 among 807 U.S. adults who are employed full-time reveals that 83% of full-time employed Americans faced an unexpected expense in the last…
read more - The Ballooning Costs Of Long Term Care
14 million people need long-term care today; By 2030 that will be 24 million
An estimated 14 million people in the United States currently need long-term support services.[1] According to the Department of Health and Human Services (HHS), 7 in 10 seniors reaching 65 years old are now expected to need some type of long-term care (LTC) before the end of their life.
read more - LIMRA Establishes Data Exchange Standards for Non-Medical Workplace Benefits
A new standard for data-exchange
LIMRA today released the first set of data exchange standards focused on post-enrollment data for the employee benefits market.
read more - Trends That Will Shape Senior Care in 2020
Challenges and opportunities of a rapidly changing industry
Health Dimensions Group (HDG), a leading post-acute, long-term care, and senior living consulting and management firm recently published “2020 Top Trends In Aging Services: Preparing For Historic Changes,” a strategic resource for senior care organizations working to achieve success in the coming year.
read more - U.S. Medicare Supplement Continues to Gain Popularity
Net premiums rise 55% 20 $30 billion
Net premiums earned for the Medicare supplement insurance line of business have risen 55% since 2011 to $30 billion annually, in line with growth in the senior population and the expansion of other Medicare-related products during this timeframe, according to a new AM Best report.
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