Florida bill targets high long-term care insurance rates

Share this article:

A new bill in Florida would hold down long-term care insurance costs, which can rise more than 200% during the 20- to 30- year life of a contract.

The bill would require that current policyholders' rates be no more than the cost of any new policy. It also would give current policyholders the option of keeping premiums stable and taking a reduced package of benefits – either a shorter time in a long-term care facility or less money toward it. Because of exorbitant rates, some seniors are forced to cancel their policies, losing all the money they put into them.

The Florida Senate Banking and Insurance Committee approved the legislation. The Senate Healthcare Committee must now approve it. A similar measure is being introduced in the Florida House.
Share this article:

More in News

Also in the news for Sept. 30, 2014 . . .

CMS clarifies appropriate use of power strips in long-term care resident rooms ...GAO: Integrating Medicare and Medicaid may not reduce costs on dual-eligible care ... Brookdale discriminated against worker with fibromyalgia, EEOC claims ... State standards for physician access under Medicaid managed care vary widely, ...

More programs drop out of Pioneer ACO pilot

The Pioneer Accountable Care Organization program is now down to 19 programs, out of an original 32, worrying those who have pushed for skilled nursing facilities to embrace the concept.

Elderly with complicated grief benefit from targeted program, study says

Complicated grief is an under-recognized problem in the elderly, but a specific treatment can help, a new study says.