BestWeek: Industry Eyes Plan For Government-Run LTC Program In Health Reform

Main Category: Health Insurance / Medical Insurance
Article Date: 13 Oct 2009 - 3:00 PDT

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Buried within U.S. health reform legislation being debated in Congress is a provision to create a government-run long-term care insurance plan the private industry contends would not meet the needs of millions of baby boomers if they need these benefits later, according to BestWeek U.S./Canada. The government plan would "kill the long-term care insurance industry in a New York minute," said Mike Smith, president of The Brokerage Inc. and a member of the National Association of Health Underwriters.

In BestWeek Europe, the occurrence of a large insurance claim is normally followed by the arrival of a loss adjuster, who will sift through the damage and begin to work out the numbers. Loss adjusters have traditionally represented insurers. But they are now increasingly found on the other side of the fence, speaking for clients who may feel overwhelmed by the complexity of the claims process.

And in BestWeek U.S./Canada, the insurance industry - minus some major health insurers - has spent more than $81 million and dispatched 875 lobbyists for 2009, according to the Center for Responsive Politics. Insurance regulatory reform is always the chief issue for the Independent Insurance Agents & Brokers of America, said spokesman Charles Symington.

BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, visit http://www.ambest.com/sales/BestWeek.

Source
BestWeek U.S./Canada

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