States increasingly are implementing regulations designed to help resolve consumer tussles with long-term care insurance companies, according to news reports.
Oregon, Alabama and Kansas are the most recent states to enact new processes by which consumers can turn to when LTC insurers deny or fail to pay claims within 30 days, Kaiser Health News reported.
Last year, for example, Oregon’s Insurance Division set up a new appeals process for consumers to appeal an insurer’s denial. Previously, policyholders had to go to court in order to appeal a decision. The National Association of Insurance Commissioners has developed model legislation to help other states adopt similar policies and procedures, according to Kaiser.
In the last year, several high-profile insurers have left the LTC insurance sector, or limited the types of policies they offer. Analysts on Wall Street also have predicted the demise of LTC policies in the near future.