Navigation Links
Expert: Long-term care health coverage a hidden casualty of economic slide
Date:12/4/2008

as happened since then to make people more comfortable with this product," he said. "What has changed is that people may need to consider it because their other investments have declined in value. But long-term-care insurance is even riskier today than it was just a year ago."

Hefty premium increases for existing policyholders that have long been charged by smaller insurers are now surfacing among the industry's very largest companies, he said. Three leading insurers Genworth Financial, John Hancock and MetLife had never before raised premiums for existing policyholders, but recently bumped rates by as much as 18 percent, he said.

Those rate increases come as policyholders grow older and may have no realistic alternative to paying higher rates, said Kaplan, a member of the National Academy of Social Insurance.

"The practice of raising rates on existing policyholders is a breach of faith and a slap in the face to those seniors who tried to do the right thing and take responsibility for their long-term-care needs," he said.

The economic downturn also has sparked concerns about whether insurers will still be in business when policyholders ultimately file claims, Kaplan said. One of the industry's largest carriers recently saw its credit rating downgraded, he said, and another essentially dumped all of its policies on a state-administered trust this week.

"These state trust funds try to guarantee policies in the event a company fails, but they have serious limitations such as caps on benefits," he said. "Their problems will be compounded further if several companies fail because the fund's assets can be depleted pretty quickly."

Because of the new risks, Kaplan says prospective policyholders should carefully examine benefits, scaling back coverage to keep premiums within their means. For example, he says adding home health-care coverage can raise premiums up to 50 percent, but is often inadequate because it typical
'/>"/>

Contact: Jan Dennis
jdennis@illinois.edu
217-333-0568
University of Illinois at Urbana-Champaign
Source:Eurekalert

0

GOOD

Page: 1 2 3

Related medicine news :

1. HALT-C researchers: Interferon as long-term treatment for hepatitis C not effective
2. Traumatic Brain Injuries Linked to Long-Term Health Issues for Iraq Vets
3. Mayo Clinic identifies best treatments for long-term survival in brain tumor patients
4. Mayo Clinic Identifies Best Treatments for Long-Term Survival in Brain Tumor Patients
5. New Internet Service Delivers Relief to Families of Those in Long-Term Care
6. Long-Term Erythromycin Cut COPD Complications
7. Long-term antibiotics reduce COPD exacerbations, raise questions
8. National Senior and Disability Advocates Agree on Principles for Financing Long-Term Services and Supports
9. Advisory Vote Begins on California Long-Term Care Local
10. Talyst Unveils InSite for Long-Term Care
11. Long-Term Antibiotic Use Affects Good Gut Bacteria
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/14/2009)... facilities (SNFs) in Ohio are making major changes in ... 92 percent increase in the state-imposed Medicaid bed tax ... per day, scheduled for December 15. The increase ... $17,520 to the state each month, or $210,240 per ... Nearly 96 percent of skilled nursing facilities responding to ...
(Date:12/14/2009)... Grubb & Ellis Healthcare REIT II, Inc. announced today that ... stockholders of record as of the close of business on ... and ending on Feb. 28, 2010. The distributions will ... and will be equal to an annualized distribution rate of ... These distributions will be aggregated and paid in cash ...
(Date:12/14/2009)... Kurth Krause, an aerospace engineer,for NASA, was giving ... moon, he,was confident that technology and science could ... was one thing that science couldn,t solve.,His wife ... dialysis machines,would keep her alive for awhile, she ... is 69 and is starting dialysis next month. ...
(Date:12/14/2009)... But the bump in odds is small and shouldn,t ... (HealthDay News) -- Older women who take antidepressants may ... stroke and death compared to women not on the ... can be different from clinical significance," stressed Dr. Jordan ... Medical School, and lead author of a report in ...
(Date:12/14/2009)... 2 diabetes and obesity are linked to an increased ... that insulin glargine (a synthetic insulin preparation marketed under ... higher risk of certain cancers than other insulins or ... unable to control for important factors such as obesity ... the other hand, a large randomized trial designed to ...
Breaking Medicine News(10 mins):Health News:Survey Shows Tax Increase Forcing Ohio Skilled Nursing Facilities to Make Cuts 2Health News:Survey Shows Tax Increase Forcing Ohio Skilled Nursing Facilities to Make Cuts 3Health News:Grubb & Ellis Healthcare REIT II Declares Initial Distribution 2Health News:Grubb & Ellis Healthcare REIT II Declares Initial Distribution 3Health News:69-Year-Old Grandmother Needing A Lifesaving Kidney Transplant Finds a Miracle on the Internet: a 25-Year-Old Living Altruistic Organ Donor Stranger 2Health News:69-Year-Old Grandmother Needing A Lifesaving Kidney Transplant Finds a Miracle on the Internet: a 25-Year-Old Living Altruistic Organ Donor Stranger 3Health News:Antidepressants May Raise Women's Stroke Risk 2Health News:Antidepressants May Raise Women's Stroke Risk 3Health News:UNC scientists coordinate study of link between insulin use and cancer in people with diabetes 2
... the need for the operation differ about 20% of ... News) -- People with severe osteoarthritis tend to be ... eye-to-eye with their health-care providers on the issue of ... about 20 percent of patients don,t agree with providers ...
... care did better, regardless of race, study found , , ... white and black patients with early-stage lung cancer disappear ... U.S. study that included nearly 18,000 patients. , ... resection) provides the best chance of a cure for ...
... Jan. 19 DaVita Inc., a,leading provider of ... disease (CKD) and kidney failure, today announced that ... dialysis patients,against influenza (flu). Today,s announcement highlights DaVita,s ... care services, setting the standard for,superior clinical care. ...
... but odds as good as males once on list , , MONDAY, ... than their male counterparts to kidney transplants as they age, a ... of the Journal of the American Society of Nephrology , ... starting in those aged 46 to 55. That group had only ...
... rate grows, so do,the numbers of unemployed workers and ... insurance. COBRA continuation coverage can offer critical,(albeit small) peace ... to,purchase such coverage, only about 20% actually opt in ... study by non-profit advocacy group,Families USA reports that COBRA ...
... from iron with virtually no gastrointestinal side effects ... 19 Bifera ( www.bifera.com ), an over-the-counter ... and non-heme iron (plant-based iron) is now available ... iron supplements, Bifera provides two types of iron ...
Other Medicine News:Health News:Knee Replacement Works Best When Patients, Providers Agree 2Health News:Optimal Treatment Boosts Blacks' Lung Cancer Survival 2Health News:DaVita 'Flu Fighter Program' Vaccinates 85 Percent of Patients 2Health News:Older Women Get Fewer Kidney Transplants Than Men 2Health News:Is Your Business Ready for the COBRA Premium Subsidy? 2Health News:First-Ever Over-the-Counter Dual Action Iron Supplement Available at Major Retail Outlets in the United States; Bifera is a New, Innovative Dual Iron Supplement Now on the Market 2
(Date:12/14/2009)... Dec. 14 Greenway Medical Technologies, ... EHR, Prime Suite (®) 2011, ... Ambulatory EHR, additionally certified for Child Health ... Greenway,s Prime Suite 2011 achieved the ... designations offered by the Certification Commission for ...
(Date:12/14/2009)... -- Cardium Therapeutics (NYSE Amex: CXM ) ... GAM501 (Ad5PDGF-B/Collagen) in the Treatment of Diabetic Ulcers," ... Industry Conference held December 10-13, 2009 in St. ... attended by top industry leaders and renowned researchers ... Dr. Barbara K. Sosnowski, Cardium,s Vice President of ...
(Date:12/14/2009)... Cancer patients in Finland have gained access to ... radiotherapy technology from Varian Medical Systems (NYSE: ... clinic in the Nordic region. Clinicians at Docrates ... precise form of radiotherapy to treat patients with ... and prostate. ,, RapidArc, which enables clinicians to ...
Breaking Medicine Technology:Greenway Medical Technologies' PrimeSuite 2011 Receives CCHIT 2011 Comprehensive Certification 2Greenway Medical Technologies' PrimeSuite 2011 Receives CCHIT 2011 Comprehensive Certification 3Greenway Medical Technologies' PrimeSuite 2011 Receives CCHIT 2011 Comprehensive Certification 4Cardium Presents at Tenth Annual Wound Healing: Science and Industry Conference on Matrix Wound Healing Clinical Development 2Cardium Presents at Tenth Annual Wound Healing: Science and Industry Conference on Matrix Wound Healing Clinical Development 3Cardium Presents at Tenth Annual Wound Healing: Science and Industry Conference on Matrix Wound Healing Clinical Development 4Cancer Patients in Finland Gain Access to Advanced RapidArc Radiotherapy Treatments 2Cancer Patients in Finland Gain Access to Advanced RapidArc Radiotherapy Treatments 3Select Telecom Adds Surveillance System Installation and Maintenance Services Receives New York State License 51417 1Select Telecom Adds Surveillance System Installation and Maintenance Services Receives New York State License 51417 2Pinnacle Health Solutions Launches New Web Site Making Affordable Health Care and Benefits Easy to Understand 51415 1Pinnacle Health Solutions Launches New Web Site Making Affordable Health Care and Benefits Easy to Understand 51415 2New Cases of Alzheimers and Dementia Continue to Rise Even in the Oldest Old 51413 1New Cases of Alzheimers and Dementia Continue to Rise Even in the Oldest Old 51413 2New Cases of Alzheimers and Dementia Continue to Rise Even in the Oldest Old 51413 3New Cases of Alzheimers and Dementia Continue to Rise Even in the Oldest Old 51413 4
... Formulation to Improve Brain Health, Memory, LOWELL, ... demonstrated success in improving the memory and brain ... be published in,the December/January issue of the American ... the vitamin-based formulation has been shown to,improve memory ...
... October 24 Novexel, a speciality pharmaceutical,company focused ... to overcome the significant global problem of microbial,resistance, ... of five posters,at the joint annual meeting of ... the Infectious Disease Society of America (48th,annual ICAAC/IDSA ...
Other Medicine Technology:Alzheimer's Association Grant Furthers Successful Research at UMass Lowell 2Novexel to Present Five Posters at the Joint Annual Interscience Conference on Antimicrobial Agents and Chemotherapy and the Infectious Disease Society of America (ICAAC/IDSA) Meeting 2
... Tuttnauer manual autoclaves set the standard for ... designed to compliment any healthcare and laboratory ... all of your sterilization needs. Time tested ... Tuttnauer product. The Tuttnauer M Series is ...
... Phacoemulsification System is a complete ... and portable, it offers high-end ... small console. It also provides ... anterior segment surgery. These include ...
... isotope used in Theraseed devices. It ... uncooked grain of rice, are implanted ... just three months it has given ... has lost almost all of it ...
... design for strength and durability. Four 64 ... with minimal lens rotation. Choice of three ... use. Small diameter contact surface allows static ... multi-layer polymer coating protects mirrors and is ...
Medicine Products: