What is Elder Long Term Care Insurance Market Scope?
Long-term care insurance is sometimes called nursing home insurance or senior care insurance. It is one of the ways to pay for long-term care. The Coverage varies but often includes: Extended nursing home stays. Assisted living communities. Individuals who require long-term care are generally not sick in the traditional sense but are unable to perform two of the six activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring, and walking.
The Elder Long Term Care Insurance market study is being classified by Type (Traditional and Combination), by Application (65-74 Years Old, 75-84 Years Old and Over 84 Years Old) and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Elder Long Term Care Insurance market throughout the predicted period.
MassMutual (United States), LTC Financial Solutions (United States), Anthem Inc. (United States), Humana Inc (United States), GoldenCare (United States), Aetna, Inc. (United States), Express Scripts Holding Company (United States), International Medical Group (United States), Continental insurance (Sri Lanka), Transamerica (United States), UnitedHealth Group Inc. (United States) and CLTC insurance (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Elder Long Term Care Insurance market by Type, Application and Region.
On the basis of geography, the market of Elder Long Term Care Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
Leading health and well-being company Humana Inc. announced that it has signed a definitive agreement to acquire One Homecare Solutions (“onehome”) from WayPoint Capital Partners (WayPoint), the private equity affiliate of a New York-based family investment office. The acquisition will further advance Humana’s strategy to build a value-based home health offering. onehome is a provider of a variety of home-based services, as well as a convener of home health services stakeholders and a care and risk manager.
Leading health and well-being company Humana Incopens new window. announced the launch of a value-based care payment initiative designed to support clinicians in addressing nonmedical health risk factors affecting Humana members.The Social Determinants of Health Value-Based Program aims to improve health outcomes by encouraging a more holistic approach to patient care that goes beyond traditional clinical treatment.
Influencing Market Trend
- Technological Advancements
Market Drivers
- Increasing Demand of Long-Term Care Insurance
- Coverages Includes in Elder Long-Term Insurance
Opportunities
- Increasing Online Sales is Boosting the Market
Restraints
- High Costs Associated with the Insurance Premiums
Challenges
- Stiff Competition Among the Major Players
Key Target Audience
Insurance providers, Distributors, Researchers, Government and Others
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