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3-Minute Interview

What significant changes have affected the long-term care category since we visited a year ago?

By Sponsor: Prudential | Updated on November 18, 2011

Malcolm Cheung Prudential Vice President of Long-Term Care Product and Risk Management

What significant changes have affected the long-term care category since we visited a year ago?   

One is the Obama Administration’s decision not to implement the Community Living Assistance Services and Support Act as part of health-care reform. In announcing the decision, Health and Human Services Secretary Kathleen Sebelius stated that “by 2020, we know that an estimated 15 million Americans will need some kind of long-term care and fewer than three percent have a long-term care policy.”  With the clear need for long-term care insurance coverage and no viable federal program for most Americans, the burden rests squarely on private insurers to continue to educate and on the American public to take action.

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