"Long Term Care Market & Products Forum Handout" - Kansas

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LONG TERM CARE
MARKET & PRODUCTS
Presented by
The Kansas Insurance Department
THE LTC MARKET
THE LTC MARKET
• Population Data
• Nursing Home Data
• LTC Insurance Company Data
• LTC Government Programs
LTC PRODUCT
LTC PRODUCT
• Current Morbidity Data
• Product Characteristics
• Policy Specifications
• Policy Provisions
• Regulatory Environment
1
LONG TERM CARE
MARKET & PRODUCTS
Presented by
The Kansas Insurance Department
THE LTC MARKET
THE LTC MARKET
• Population Data
• Nursing Home Data
• LTC Insurance Company Data
• LTC Government Programs
LTC PRODUCT
LTC PRODUCT
• Current Morbidity Data
• Product Characteristics
• Policy Specifications
• Policy Provisions
• Regulatory Environment
1
US POPULATION DATA
US POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
< 25
52,557,733
49,945,034
102,502,767
25 – 34
20,367,574
19,717,931
40,085,505
35 – 44
22,018,695
22,060,336
44,079,031
45 – 54
20,494,992
21,206,741
41,701,733
55 – 64
14,080,690
15,166,244
29,246,934
65 – 74
8,425,487
10,036,530
18,462,017
75 – 84
5,195,921
7,721,647
12,917,568
85 +
1,524,903
3,362,495
4,887,398
Total
144,665,995
149,216,958
293,882,953
US POPULATION DATA
US POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
< 25
36.3%
33.5%
34.9%
25 – 34
14.1%
13.2%
13.6%
35 – 44
15.2%
14.8%
15.0%
45 – 54
14.2%
14.2%
14.2%
55 – 64
9.7%
10.2%
10.0%
65 – 74
5.8%
6.7%
6.3%
75 – 84
3.6%
5.2%
4.4%
85 +
1.1%
2.3%
1.7%
Total
100.0%
100.0%
100.0%
US POPULATION DATA
US POPULATION DATA
Source: US Census
Source: US Census
Age
Population
Male
Female
< 25
102,502,767
51.3%
48.7%
25 – 34
40,085,505
50.8%
49.2%
35 – 44
44,079,031
50.0%
50.0%
45 – 54
41,701,733
49.1%
50.9%
55 – 64
29,246,934
48.1%
51.9%
65 – 74
18,462,017
45.6%
54.4%
75 – 84
12,917,568
40.2%
59.8%
85 +
4,887,398
31.2%
68.8%
Total
293,882,953
49.2%
50.8%
2
US POPULATION DATA
US POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
0 +
144,665,995
149,216,958
293,882,953
18 +
107,175,037
113,449,153
220,624,190
21 +
100,804,347
107,450,992
208,255,339
25 +
92,108,262
99,271,924
191,380,186
35 +
71,740,688
79,553,993
151,294,681
45 +
49,721,993
57,493,657
107,215,650
55 +
29,227,001
36,286,916
65,513,917
65 +
15,146,311
21,120,672
36,266,983
6,720,824
11,084,142
17,804,966
75 +
85 +
1,524,903
3,362,495
4,887,398
US POPULATION DATA
US POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
0 +
100.0%
100.0%
100.0%
18 +
74.1%
76.0%
75.1%
69.7%
72.0%
70.9%
21 +
25 +
63.7%
66.5%
65.1%
35 +
49.6%
53.3%
51.5%
45 +
34.4%
38.5%
36.5%
55 +
20.2%
24.3%
22.3%
10.5%
14.2%
12.3%
65 +
75 +
4.6%
7.4%
6.1%
85 +
1.1%
2.3%
1.7%
KANSAS POPULATION DATA
KANSAS POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
< 25
511,090
479,843
990,933
25 – 34
181,687
170,746
352,433
35 – 44
196,875
196,297
393,172
45 – 54
192,170
191,867
384,037
55 – 64
122,011
127,336
249,347
65 – 74
77,585
92,217
169,802
75 – 84
52,520
76,420
128,940
85 +
16,305
38,538
54,843
Total
1,350,243
1,373,264
2,723,507
3
KANSAS POPULATION DATA
KANSAS POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
< 25
37.9%
34.9%
36.4%
25 – 34
13.5%
12.4%
12.9%
14.6%
14.3%
14.4%
35 – 44
45 – 54
14.2%
14.0%
14.1%
9.0%
9.3%
9.2%
55 – 64
5.7%
6.7%
6.2%
65 – 74
75 – 84
3.9%
5.6%
4.7%
85 +
1.2%
2.8%
2.0%
Total
100.0%
100.0%
100.0%
KANSAS POPULATION DATA
KANSAS POPULATION DATA
Source: US Census
Source: US Census
Age
Population
Male
Female
< 25
990,933
51.6%
48.4%
25 – 34
352,433
51.6%
48.4%
35 – 44
393,172
50.1%
49.9%
45 – 54
384,037
50.0%
50.0%
55 – 64
249,347
48.9%
51.1%
65 – 74
169,802
45.7%
54.3%
75 – 84
128,940
40.7%
59.3%
85 +
54,843
29.7%
70.3%
2,723,507
49.6%
50.4%
Total
KANSAS POPULATION DATA
KANSAS POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
0 +
1,350,243
1,373,264
2,723,507
18 +
992,378
1,036,048
2,028,426
21 +
927,399
974,692
1,902,091
25 +
839,153
893,421
1,732,574
35 +
657,466
722,675
1,380,141
45 +
460,591
526,378
986,969
55 +
268,421
334,511
602,932
65 +
146,410
207,175
353,585
75 +
68,825
114,958
183,783
85 +
16,305
38,538
54,843
4
KANSAS POPULATION DATA
KANSAS POPULATION DATA
Source: US Census
Source: US Census
Age
Male
Female
Total
0 +
100.0%
100.0%
100.0%
18 +
73.5%
75.4%
74.5%
21 +
68.7%
71.0%
69.8%
25 +
62.1%
65.1%
63.6%
35 +
48.7%
52.6%
50.7%
45 +
34.1%
38.3%
36.2%
55 +
19.9%
24.4%
22.1%
65 +
10.8%
15.1%
13.0%
75 +
5.1%
8.4%
6.7%
85 +
1.2%
2.8%
2.0%
KANSAS
vs
US POPULATION DATA
KANSAS
vs
US POPULATION DATA
Source: US Census
Source: US Census
Age
Kansas
US
0 +
100.0%
100.0%
18 +
74.5%
75.1%
21 +
69.8%
70.9%
25 +
63.6%
65.1%
35 +
50.7%
51.5%
45 +
36.2%
36.5%
55 +
22.1%
22.3%
13.0%
12.3%
65 +
75 +
6.7%
6.1%
85 +
2.0%
1.7%
STATE POPULATION DATA
STATE POPULATION DATA
Source: US Census
Source: US Census
Rank
State
Population
1
California
35,935,728
2
Texas
22,507,449
3
New York
19,241,987
4
Florida
17,410,642
5
Illinois
12,723,486
6
Pennsylvania
12,415,905
7
Ohio
11,467,890
8
Michigan
10,120,456
9
Georgia
8,836,225
10
New Jersey
8,705,620
5
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