November 4, 2024
The Society of Actuaries has released the Long-Term Care Population Research Model, a tool developed by ARC. The Long-Term Care Population Research Model is an Excel-based model which examines the potential impact of public long-term care (LTC) benefits on beneficiary finances and service utilization. The model allows the user to define LTC benefits by specifying various parameters. This input is used to estimate illustrative impacts of the benefits on LTC utilization and expenditures in the United States.
In addition, the model provides a high-level financing estimate, in terms of a payroll tax, to provide context to the cost of the benefits.
The model can be accessed on the Society of Actuaries website: https://www.soa.org/resources/research-reports/2024/ltc-population-research-model/