Posted on February 16, 2010.
How can I find a listing of long-term care insurance? In a note, I mean how difficult it is to receive if qualified? A recent article in The New York Times demonstrates how long-term care insurance scam seniors finding reasons not to pay the long-term care insurance when the time comes that the need for support for the elderly. I want to know if something like a consumer report that rates insurers on reimbursement when the need is legitimate.
The article to which you refer is shamefully misleading. The "journalist" who wrote this is that the search for a sensational story, which one did not exist, he simply made up.
I do not say there is no problem, because there are insurers who deny claims wrong - but they do not everywhere. When a request is delayed or denied, the insured or his representative must contact their state insurance commissioner office in writing immediately. Unlike blatently incorrect information provided in the article, the office of Commissioner investigate all complaints. If the complaint is justified, the Commissioner has the power to demand payment. Office of the Commissioner does not wait until they get a very large number of complaints about a subject before acting, which is a misconception. While this may trigger a "market conduct" inquiry into the rear, each complaint is reviewed and acted on first.
The best way to get the information you need is to contact your insurance commissioner state office and ask questions about the report "complaint" (verses justified unjustified) of LTC insurers doing business in your state. Much of the information posted on their Web sites, you can also visit the NAIC website and watch it.
I'm glad my answer helped you! Flag
My advice is stick well-known companies. John Hancock and MetLife good examples. There are several companies that sell long-term care insurance. When purchasing a LTC policy be sure to read the explanation of benefits and policy. A policy of long-term care typically requires 2 out of 5 activities of daily living (eating, bathing, toileting, dressing and transferring) the policy will be specific to what is the inability to perform 2 ADL above.
Getting tired of the articles you read on insurance. Many newspapers and media in general tend to be individual cases seem to be a national crisis. Just stick with well known companies and you can not go wrong.
OK, the rating of credit ratings, which can look up at www.ambest.com, and is totally unrelated LTC payments.
There is nothing that insurers pay rates. The CLOSEST thing there is the website of your department of insurance of the state - where they list complaints about specific companies. Usually, you must have the name of the company, then you can look at the number of complaints they have.
If there are too many complaints, the State Insurance Department examines things.
I have not read the article. . . but in general I found the impression of the people of this covering LTC is much, much different from what it actually covers. Let the agents selling these policies do not really give a good coverage descriptions, or people who buy them are not listening. Difficult to say which.
I know that "need" is legitimate. But the wording of the contract stands. .. and many, many people never read the contract (aka policy).
