Long term care providers in Texas will have another insurance option. Continuing Care Risk Retention Group, Inc. (CCRRG), will underwrite polices for providers in Texas, according to the San Antonio Business Journal.
Bob Bates, president of Magnolia LTC, the company that administers CCRRG, said that health care industry tort reform in Texas is the reason. High insurance rates have driven up health care costs, but the Texas legislature recently reformed the state’s tort system. As a result, laws now support CCRRG’s “rigorous underwriting standards that allow it to offer such low premiums.” (Source)
In other long term care news, lawmakers in Oklahoma have proposed a $20.4 million increase in funding for providers. According to Tulsa World, Oklahoma ranks quite low nationally and regionally in provider reimbursement. If the increase goes through, the Oklahoma Health Care Authority can increase reimbursement to Medicare and Medicaid providers.
