Most States Report Increase in LTC Insurance Policyholders
Twenty-five states reported a double-digit percentage increase in the number of residents with long-term care insurance, according to annual data compiled by the American Association for Long-Term Care Insurance (AALTCI). The data will be published in the organization’s 2011 LTC Sourcebook.
Smaller states recorded the greatest percentage growth compared to the prior year’s report. “The number of insured individuals in Alaska grew by nearly 130%,” AALTCI Executive Director Jesse Slome said in a release. “Other smaller states like Wyoming [62%] and Vermont [48%] saw significant increases as well.”
According to the Association’s Sourcebook, states with the largest number of residents owning long-term care insurance include California, New York, Texas, Florida, and Illinois.
With more than 450,000 policyholders, New York recorded the largest percentage increase (8%). Only two states—Pennsylvania and Missouri—saw year-to-year declines in the number of residents with coverage.