INDIANA LONG TERM CARE PARTNERSHIP

PROGRAM STATISTICS

QUARTER 1 – 2014

January 1, 2014 through March 31, 2014

Insurance Companies Submitting Data

Active Companies

Bankers Life & Casualty

Genworth Financial

John Hancock

Massachusetts Mutual

TransAmerica Life

Thrivent Financial

Inactive Companies

Continental Casualty
Hartford Life
MET Life
Monumental Life
Prudential Insurance
Senior Health of Pennsylvania
State Farm
Travelers

INDIANA LONG TERM CARE INSURANCE PROGRAM

Statistical Summary

Quarter 1 - 2014

Period: January 1, 2014 through March 31, 2014

The Indiana Long Term Care Insurance Program (ILTCIP) is an innovative public/private partnership between the Indiana Medicaid Program and private long term care insurance companies, designed to help Indiana residents finance their potential long term care without fear of impoverishment. The Program began operation on May 17, 1993, with state approval of the first eight participating insurers. Actual marketing of Indiana Partnership policies by these companies began later that summer.

This report presents information for the quarter ending March 31, 2014, in the form of quarterly-specific and cumulative statistics since the Program's inception.

Highlights from this quarter include the following:

  • 398 policies were purchased in quarter 1 of 2014.
  • Cumulatively, 68,360 applications have been submitted with 56,506 policies purchased.
  • 100% of policies purchased in quarter 1 of 2014 were comprehensive.
  • 32% of policies purchased during quarter 1 of 2014 qualified for total asset protection and 68% for dollar for dollar. Cumulatively, 76% of all policies purchased qualified for total asset protection.
  • 96% of all policies purchased have been by first time purchasers.

STATISTICAL SUMMARY

QUARTER 1 – 2014 REPORT
QUARTER 1- 2013 / CUMULATIVE THROUGH 3/31/14
Applications Received: / 528 / 68,360
Applications Denied: / 88 / 10,805
Total / 398 / 56,506
Policies Purchased: Total Asset / 128 / 76%
Dollar for Dollar / 270 / 24%
Policies Dropped: / 72 / 55%
(voluntarily & unknown reason)
Policies Not Taken Up: / 15 / 20%
(dropped within 30 day free look period)
Total Policies In Force (active): / NA / 43,614
Policyholders Who Received Service Payments: / 527 / 1,792

Indiana Long Term Care Insurance Program:

Statistics for Quarter Ending March 31, 2014

In Comparison To Cumulative Program Statistics

Quarter ending 3-31-2014 / Cumulative through 3-31-2014
Total Policies Purchased / 398 / 56,506
Total Policies Dropped / 188 / 13,660
# / % / %
Died / 94 / 50 / 23
Voluntarily / 20 / 11 / 23
Unknown / 52 / 28 / 32
Not Taken Up / 15 / 8 / 20
Converted / 0 / 0 / <1
Exhausted Benefits / 7 / 4 / 1
Rescission / 0 / 0 / <1
Non-Forfeiture / 0 / 0 / <1
Policies in Force / NA / 43,614
# / % / %
Nursing Home and Home Care Policies. / 398 / 100 / 94
Nursing Home Only Policies / 0 / 0 / 6
First Time Purchasers / 391 / 98 / 96
Upgrades or Replacements / 7 / 2 / 4
Individual
Group Certificates / 0 / 0 / <1
Organization Sponsored / 193 / 10 / 5
Male / 863 / 45 / 43
Female / 1038 / 55 / 57
Married / 1680 / 88 / 82
Not Married / 221 / 12 / 18
Other / 0 / 0 / 0
Cumulative Program Statistics
As of March 31, 2014
Nursing Home Per Diem Amounts (Policies in Force):
Average Amount: / $150
Home Care Per Diem Amounts (Policies in Force):
Average Amount: / $140

Elimination Period (Policies in Force):

Nursing Home: Home and Community Care:

0 days 3% 0 day 39%

30 days 12% 30 days 9%

90 days 50% 90 days 29%

180 days 2% 180 days 2%

Riders:
Non-Forfeiture / 1%
Restoration of Benefits / 1%
Spousal Benefit Enhancement / <1%
Other Riders / 8%
Policy Amounts (Policies in force)
Range $22,050 - $4,516,875
Average Amount $213,189
# Lifetime Policies 9%

Policyholders in Benefit

Cumulative Information as of March 31, 2014

Benefit Status

Number of policyholders, to date, who have received benefit payments. / 1,792
Number of policyholders in benefit as of Quarter 1, 2014. / 529
Number of policyholders who died while in benefit. / 655
Number of policyholders who have exhausted benefits. / 118
Number of policyholders, to date, who have exhausted their benefits and applied to Medicaid. / 50
Asset protection earned by policyholders to date. / $115,697,654
Asset protection earned to date that will not be accessed (policyholders who have died). / $35,408,022

Service Utilization

Type of Service * / Quantity / % of Total Claimants by Type of Service**
Nursing Home Care / 1,295 / 72
Home Health Aide - hourly care / 213 / 12
Home Health Aide - daily care / 257 / 14
Attendant Care / 23 / 1
Other institutional / 0 / 0
Hospital Bed Hold / 273 / 15
Assisted Living / 487 / 27
Adult Day Care / 40 / 2
Personal Care / 105 / 6
Alternate Level of Care / 8 / <1%

* More than one service could apply to each claimant.

** Status and percent will change as claimant status changes.

CLAIMANT PROFILE

Cumulative Aggregate of All Policyholders Who Used Benefits

As of December 31, 2013

Gender:
Female / 67%
Male / 33%
Marital Status:
Not Married / 37%
Married / 59%
Unknown / 4%
Average Age At The Time Of Policy Purchase / 70
Average Age At The Time Of Claim / 80
Age Range At Time Of Claim / 44-100
Policy Type Owned:
Nursing Home only / 26%
Nursing Home & Home Care / 74%
Average time elapsed between purchase and claim date / 10.5 yrs.