Long-Term Care Insurance: Observations on long-term care problems to solve
Fred Andersen, Chief Life Actuary, MN Commerce Department, Insurance Regulator.
Andy Whitman, Facilitator for UMRA Finance & Legal Group
- LTC impacts most of us in some way
- Funding and accessing care are the biggest issues
- Insurance is a piece with various options and innovations coming up
- Savings can work out unless it's a costly case
- Expansion or evolution of programs – necessary to help reduce distress for many
Members Submitted Questions answered during the presentation.
- Will my significant investment in LTC insurance pay off? What if the company goes bust? I'd also like to be prepared for cost increases. Also, how much red tape will be involved when I need to receive the benefits of this policy?
- I have had long term care insurance, paying in since 1988. I am now 91, widowed, and in relatively good health. I need some household help and cooking help, but there is a test to see if you qualify for care and it is based on activities of daily living (ADL) and a cognitive test. I think I will flunk the test.
- My husband and I purchased long term care coverage in 2014. We did this after a representative gave a presentation at the University of MN. The premiums have steadily increased over the years. What are the chances that this company will be solvent when and if we need this care?
- Do I really need additional health insurance?
- Would I be better off putting the money in an equity, like S&P?
- Is it worth it to get insurance for long term care in a care facility?
Long-Term Care Insurance: Observations on long-term care problems to solve
Mon, Oct 13, 2025, 10am
By Fred Andersen, Chief Life Actuary, MN Commerce Department, Insurance Regulator.
Registration is required to attend and for a recording: Registration Link:
https://umn.zoom.us/meeting/register/MgoK6Ay-SqyGtlB-MUBylA
Please tell us about issues that we should cover in our fall 2025 zoom session.
Please email suggestions to me. [email protected].
Upcoming Events
The UMRA Photo Club will next meet at 12:30 p.m. on Tuesday, March 10, in the meeting room of the Hennepin County St. Anthony branch library in the small shopping center at New Brighton and St. Anthony Boulevards in St. Anthony, just north of the Twin Cities. For those interested in lunch, meet at the nearby Great Dragon Buffet at 11:30 a.m.
Please join the UMRA Family History Interest Group meeting on Wednesday, March 11, via Zoom, when Michelle Casey will present “DNA Testing and Analysis Using 23andMe, Ancestry, and MyHeritage.”
Public health is extremely important—and right now it is very confusing. Join us to ask questions and share your thoughts and concerns about the current state of our public health system.
UMRA’S March workshop will explore how to transform your memories, including those that have faded with time, into lively true stories. It will also show you how to reflect on them, how to express how you felt, and how to connect your stories to the values and beliefs you want to pass on.
Join fellow UMRA members for “Third Wednesdays in the West Wing" lunch at the Campus Club in Minneapolis. This is a pilot program for spring 2026.
UMRA’s Book Club I will discuss The Bohemian Flats by Mary Relindes Ellis when it meets via Zoom at 2 p.m. on Friday, March 20. Jim Lewis will lead the discussion.
University of Minnesota General Counsel Douglas Peterson will be the featured speaker for UMRA’s March 24 luncheon forum. He will speak about how the University is addressing its latest challenges and opportunities involving law.
'Seabiscuit' by Laura Hillenbrand
Join fellow UMRA members for a morning hike in Theodore Wirth Park to celebrate the International Day of Sport for Development and Peace, Monday, April 6.
Chris Gade, VP for University marketing communications, will join UMRA members on Tuesday, April 7, for the first in a new series of informal “Campus Conversations” to be held at the Campus Club in Minneapolis.
This month's theme is mountains, valleys and canyons.
"Third Wednesdays in the West Wing" is a pilot program for spring 2026.
UMRA’s Book Club I will discuss Rin Tin Tin by Susan Orlean when it meets via Zoom on Friday, April 17. Diane Madson-Kay will lead the discussion.
Bev leads a hike along Old Cedar Avenue.
Under Terry Straub's leadership, Hennepin County/UMN Extension has created the most ambitious master gardener program in Minnesota. His visit with us will feature the topic of lifelong gardening and how gardens can evolve with us and our life cycles.
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Ever wonder what goes on behind the shiny walls of the Weisman Art Museum on the University of Minnesota Twin Cities campus?
Family history with Craig Moody. A tale with many dead ends.
Pete leads this hike at the Arboretum.
Third Wednesdays in the West Wing" is a pilot program for spring 2026.