Congress Investigates Long Term Care Insurers
May 30, 2007 by Jerri Lynn Ward, J.D.
Filed under Other Posts
The New York Times (free registration) reports that Congress is putting the long term care insurance industry “under scrutiny.†The House Committee on Energy and Commerce is investigating long term care insurers Conseco and the Penn Treaty American Corporation.
It seems that certain long term care insurers are making policyholders jump through hoops to have their claims paid. Congressman John Dingell of Michigan told the paper that “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. Now that we’re aware this is occurring, we’re going to shine a light on it that won’t be extinguished.â€
With people living longer and baby boomers entering long term care, whatever issues Conesco and Penn Treaty American Corporation have with paying claims likely will get worse. The investigation is coming at the right time.
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Penn Treaty fought with me for 4 years, before I finally figured it out and became an unlicensed care home in the State of Texas. Then they HAD to pay me to take care of my mother-in-law at home, they had no choice! But I had to turn our home into a facility before they would do it!!! I was only able to do this after four years of thinking and thinking and thinking. Meanwhile, we were slowly going broke. This company is BAD, BAD, BAD. Hopefully Congress won’t shut them down, but make them honor their policies. Our home has been in foreclosure twice because of this mess but my mother-in-law is still with me and I intend to keep her with me, no matter what. Meanwhile, Irving Levit, the founder of Penn Treaty, owns several race horses. I wonder if he pays more than $70 per day (our supposed maximum daily benefit under the Policy) for their grooming and stabling? What is wrong with our country?