California Task Force Plows Ahead With Long-Term Care Insurance Effort

[Northeast Agent]

California Task Force Plows Ahead With Long-Term Care Insurance Effort | ThinkAdvisor

The 13-member task force includes Jamala Arland, a vice president at Genworth, which is a major LTCI issuer, and Parah Shah, a senior product design actuary at Pacific Life.

The California Long Term Care Insurance Task Force

Task force members have been discussing the possibility of creating a program that would provide $3,000 to $6,000 per month in LTCI benefits for eligible participants for a period of up to two years.

 

[wiley]

Calif already screwed up with their earlier state run program--Calpers.. Everybody is looking for alternativesbecause it seems they ran outa money. And Genworth has similar problems. This is definitely the blind leading the blind

 

[Life Hawk]

Not in the LTC world. Dipped my toe in it once and felt like if I left it any longer that it might get eaten off. I was right. This product is like providing self-build home kits to beach dwellers, something is always shifting or caving in. IMHO

The last place on earth to get into something so complicated or so financially complex... is the state of California. Like I've mentioned before, most of these people fix things with hammers, when that doesn't work, they try a BIGGER HAMMER. LTC does not work that way... most capitalist programs do not.

This is why we watch as their state runs off the rails. Well educated idiots who have been educated far beyond their capacity to learn. Social experimenting with other people's money is not the job of government.

It will fail in the long run. You watch, you wait, you see.