Long-Term Care Insurance Premium Hikes Ahead

Premium hikes on long-term care insurance policies are being planned by two of the industry’s largest players, but both stated their intentions to strengthen their positions and remain in the industry.  Both John Hancock Life Insurance Co. and Genworth long-term policyholders should expect to see their premiums raised in 2014 following announcements made during third […]

Nursing Homes Lead Senior Care for Cost Growth

The cost of care in a private room in a U.S. nursing home averages roughly $94,170 per year, with the costs of assisted living averaging $41,124 annually, according to a report by John Hancock Life Insurance Company. Home care, in comparison, averages $29,640 annually, the study finds based on responses from 16,000 long term care […]

The Future of Long-Term Care Insurance Looks Uncertain, Says Moody’s

Big-name providers fleeing the long-term care insurance market—think MetLife and Prudential—has contributed to uncertainty of the sector’s future, according to Moody’s Investors Services in a new report. The U.S. population is aging and will almost certainly need non-medical coverage on a major scale, but persistent losses, a challenging operating environment, and the exit of key […]