LTCI premium hikes reek of bait and switch
It’s a problem that will likely cost every tax payer. Long-term care insurance companies, taking advantage of the elderly. But now, State Senator Chris Marr is asking Washington’s insurancecommissioner to crack down on requested price increases. In some cases,it seems, prices are so out of control, some seniors have had to droptheir policies before ever using them. Many claim that’s exactly what insurance companies are banking on.Then, when seniors need health care, they’re either forced to draintheir savings, if they have any, or turn to the state to pay for it. One spokane couple is fighting back, and have been surprised by the response. “It’s unconscionable is what it is,” says Wanda Flood.
Source and more: KXLY.com, http://www.kxly.com/news/?sect_rank=2§ion_id=560&story_id=14392