(p16) - 19 Consumer Reports, “Gotcha! The Traps in Long Term Care Insurance,” June, 1991, p. 427.
After, listening to fourteen sales presentations for long term care insurance, a reporter for Consumer Reports concluded that every sales agent misrepresented some aspect of the policy, the financial condition of the insurer, or the
quality of the competitor's product. She also felt that not one sales' agent properly explained benefits, restrictions, and policy limitations.19
1993 0518 - Washington Post - Paying for Long-Term Care: A Touch Problem that Reform is Unlikely to Resolve, By Albert B. Crenshaw - [link]
1992 - AP - Who buys long-term care insurance, by Nanda Kumar -
2007 0525 - Tuscaloosa News - Congress Putting Long-Term Care Under Scrutiny, by Charles Duhigg - [link]
<WishList> - A Congressional committee yesterday began looking into business practices in the long-term care insurance industry.
The House Committee on Energy and Commerce has asked Conseco and the Penn Treaty American Corporation, two of the nation’s largest sellers of long-term care insurance, to produce documents showing how the companies market long-term care policies and handle policyholder claims.
The requests, which are expected to be a precursor to hearings by the committee, come as the Government Accountability Office prepares to begin a separate investigation. At least five senators, including Hillary Clinton, Democrat of New York, and Barack Obama, Democrat of Illinois, have asked the agency to open an inquiry.
<WishList> - In March, The New York Times reported that some long-term care insurance companies had developed procedures that made it difficult, if not impossible, for policyholders to get paid. That article — which focused on Conseco and Penn Treaty — was cited by the House committee and in the senators’ letters as the instigation for their investigatory requests.
“We have two companies that seem to be engaging in questionable practices, and we have every reason to think we will turn up other companies engaged in questionable practices,” said Representative John Dingell, Democrat of Michigan who is chairman of the House Committee on Energy and Commerce. “Now that we’re aware this is occurring, we’re going to shine a light on it that won’t be extinguished.”
ACLI - “There is a tiny percentage of disgruntled policyholders filing complaints,” said Frank A. Keating, president of the American Council of Life Insurers, an industry trade group. “To the extent that this probe will shine a light on companies that are making mistakes, that will be a positive thing.”
2009 - GOV (Senate) - Boon or Bane? Examining the Value of Long-Term Care Insurance - [PDF-111p]
2014 - SOA - An Overview of the U.S. LTC Insurance Market, Society of Actuaries - 23p
2016 0310 - Pennsylvania - IN RE: Long Term Care Insurance - 138p
2017 0109 - Maryland - Long Term Care Public Informational Hearing - 107p
2019 0820 - Maryland - Deposition of Hearing - In the Matter of: Long Term Care - 72p
[50] - MR. SWITZER: Another is some questions voluntarily have said -- people knew that the regulators knew that things were going awry quite a while ago, the '80's, '90's.
2020 1119 - Maryland - Deposition of Hearing - In the Matter of: Long Term Care - 96p
2023 12- FPA - LTCI Rate Increases and Reduced Benefit Reductions: Insights from Financial Planners: It can be distressing to find out that insurance premiums are going up, but planners can help guide their clients through this delicate decision, By Brenda J. Cude, Ph.D.; Lisa Groshong, Ph.D..; Bonnie Burns; and Richard M. Weber, Financial Planning Association - [link]
HEALTH CARE REFORM
House - SUBCOMMITTEE ON HEALTH OF THE COMMITTEE ON WAYS AND MEANS - VOLUME VII - President's Health Care Reform Proposals: