Long-Term Care Legislative Update

November 29, 2022

November 23, 2022

The traditional long-term care (LTC) market has been challenged due to a strict regulatory environment, rising claims, and lower than expected lapses, leading to higher prices often unaffordable to a large portion of the affected population. People reaching the age of 65 now have an average life expectancy of an additional 19.4 year1; and 70% of those will require long-term care2, with a large portion of this care provided by a family member—creating additional caregiving pressures on the working population and impacting employers.

As the costs associated with eldercare increase, and Medicaid budgets are further strained, state governments are looking for new ways to address the looming problem. As state Medicaid budgets get depleted and liabilities grow, more states are considering or sponsoring legislation around employee funded LTC solutions. Adding complexity, a number of insurers have opted out of the traditional LTC market, leaving relatively few to provide much-needed long-term care solutions.

Click here to download the PDF of the full legislative update. 



1.  https://acl.gov/sites/default/files/Aging%20and%20Disability%20in%20America/2020ProfileOlderAmericans.Final_.pdf 
2. https://acl.gov/ltc/basic-needs/how-much-care-will-you-need