Unparalleled insight
Long-term care Advanced Risk Analytics (LARA)
The Milliman Long-term care Advanced Risk Analytics® (Milliman LARA®) preclaim risk model was developed using predictive analytics and can be used to assist LTC carriers in stratifying their population to proactively manage the health and claim activity of their members.
How can carriers and wellness vendors get the insights they need to tailor outreach approaches for different groups?
Milliman LARA is a proprietary suite of predictive modeling solutions that help long-term care (LTC) carriers understand and manage individual LTC risk with risk scores and drivers, bringing insights through industry-leading data and models.
Aging-in-place interventions can be an effective method to improve health outcomes, reduce severity of future claims, and reduce overall long-term care claim costs.
Pre-claim interventions can be an effective method to improve health outcomes, reduce severity of future claims, and reduce overall long-term care claim costs.
Understand and manage individual long-term care (LTC) risk with risk scores and drivers bringing insights through industry-leading data and models.
We forecast annual paid long-term care insurance claims to peak around $45 trillion in the early 2040s, up from around $20 billion in 2026, excluding new sales.
Average LTC insurance premiums increased steadily over the last decade, but incurred claims rose at a faster rate, according to our analysis.
We expect long-term care insurance claims to peak in excess of $40 billion annually in the 2040s, excluding any new sales, according to our latest projections.
To best evaluate whether long-term care wellness programs produce claim savings, carriers need to perform a robust analysis of results, among other steps.
