Short Term Care Growth

Did you know that Short Term Care (STC) premiums have grown by 40% from 2020-2024, and are expected to grow another 30% over the next five years?

Past blog entries have also highlighted growth in ancillary products. Today we are taking a closer look at Short Term Care policies.

Short Term Care plans are a small but growing type of supplemental health insurance products, created to help individuals cover the costs of care needed following a serious injury or illness. These products pay a daily benefit amount if the insured needs to stay in a nursing facility until they are well enough to return home on their own. Short Term Care plans may also include Home Health Care benefits that provide a benefit if the insured is able to finish their recovery in their own home. 

For additional insight into the carriers making up this market, loss ratio results, and projected future market scenarios, check out our Short Term Care Market Projection Report.

Please be sure to check out our prior blog post about the growth in ancillary products.