Long-Term Care Claims Skyrocket in 2022: AM Best

Insurance Forums Staff

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Long-Term Care Claims Skyrocket in 2022: AM Best

Report finds shift from home care to long-term care facilities drives a 20% uptick in claims.
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The surge in Long-Term Care claims in 2022, as reported by AM Best, underscores the growing need for extended healthcare coverage. This significant increase may be attributed to various factors such as an aging population, evolving healthcare needs, and a higher awareness of the importance of long-term care planning. As insurance providers and consumers navigate these changes, it becomes imperative to assess and adapt policies to meet the rising demand for extended care services. The report from AM Best serves as a crucial indicator for both the insurance industry and individuals to reevaluate and enhance their long-term care strategies in response to the evolving landscape of healthcare requirements.