Rising Demand and Costs for Long-Term Care Insurance

October 20, 2003 Rising Demand and Costs for Long-Term Care Insurance Long-term care insurance has grown from covering 1.7 million people in 1992 to 5.2 million in 2001, the last year for which figures are available. While cumulative premiums collected by the insurance providers rose from $3.2 billion as of 1992 to $40.4 billion as of 2001, or 1,163 percent, the claims have been rising faster. The cumulative claims went from $957 million as of 1992 to $14 billion as of 2001, or an increase of 1,363%, according to the National Association . . .