Claims History on Benefit Period
These statistics speak to our topic yesterday on the benefit period. For a major carrier in the business, this is their claims history on policies for a 30 year period of time.
The youngest claimant was 37 and the oldest was 105.
The average and longest length of claim for the types of care was:
- Assisted Living Facility - Average = 1079 days or 2.9 years; Longest = 10 yr and 5 mo
- Home Health Care - Average = 523 days or 1.43 years; Longest = 10 yr and 7 mo
- Nursing Home - Average = 721 days or 1.97 years; Longest = 14 yr and 5 mo
- All Benefits - Average = 690 days or 1.89 years; Longest = 14 yr and 5 mo
Percentage of Total Claims by Benefit Type
- Assisted Living Facility = 10.6 %
- Home Health Care = 77.9%
- Nursing Home = 11.2%
- Other = .3%
The top 5 Claim Types by Benefit Dollars Paid:
- Dementia (Alzheimer's, Senility) = 36.6%
- Stroke = 14.6%
- Parkinson's Disease = 3.9%
- Hip Fracture = 3.7%
- Fractures - Other = 3%
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