So, it would be a bit unfair to compare $VaR_\alpha$ estimated in 80s with what is going on right now. $VaR_\alpha$ assumes that the distribution of returns is normal. Not most beautiful assumption but the most straightforward to compute $VaR_\alpha$.
How often is it covered? Long-term care is a range of services and support for your personal care needs. Most long-term care isn't medical care, but rather help with basic personal tasks of everyday life, sometimes called activities of daily living. Medicare doesnât cover long-term care (also called custodial care), if that's the only care you need. Most nursing home care is custodial care.
Managed Long Term Care. Managed Long Term Care (MLTC) plans are insurance plans that are paid a monthly premium (capitation) by the New York Medicaid program to approve and provide Medicaid home care and other long-term care services (listed below) to people who need long-term care because of a long-lasting health condition or disability.