Higher Rates for Women Challenged?

I can see it holding up for plans that are connected to the state Medicaid plans unfortunately. It will cause the insurance companies to lose the incentives that they currently have to work with the states and prices will rise on all of the plans, once again destroying the usefulness of the product.
 
Interesting article:

[Group challenges gender-based LTCI rates | LifeHealthPro]

This is an excerpt from that article "A nonprofit legal organization says charging women more for private long-term care insurance (LTCI) violates Section 1557 of the Patient Protection and Affordable Care Act (PPACA)."

personally, I think ACA has nothing to do with ltci since it is not really classified as health insurance, ltc is more focused on custodial/personal care, right? Correct me if I am wrong but that is how I see it. However, there is some sort of confusion because there are policies tied to the government (as stated by unic consulting) Well, there could be an endless debate regarding this issue but who really knows who will win..there have been gender based pricing even in auto and I think life insurance too...
 
previously posted by KarenLorezo

personally, I think ACA has nothing to do with ltci since it is not really classified as health insurance,

Incorrect Karen, according to IRS rules & regs, LTCi is considered health insurance. You need a Life & HEALTH license to sell LTCi don't you?
 
previously posted by KarenLorezo



Incorrect Karen, according to IRS rules & regs, LTCi is considered health insurance. You need a Life & HEALTH license to sell LTCi don't you?



I do not believe it is considered to be Major Medical - it can still be underwritten just as life insurance is - and in that case, risk is a factor.


When you look at morbidity statistics, it is very likely that women would live longer & need long term care services, therefore presenting more of a claims risk for the insurer - right? Unless we're going to just tax everyone heavily and go full single payer the way they do in Canada and have everyone have access to long term care as a 'ward of the state', I don't see how they can tell insurers to treat everyone equally and have any facet of a private market survive.
 
Companies could simply elect to raise male LTC rates by 40% moving forward, and now the rates are equal again. Introduce 1 year benefit periods and 2% simple inflation riders and have the marketing departments generate new cost of care studies indicating this is all people need.
 
previously posted by ltcadviser

Companies could simply elect to raise male LTC rates by 40% moving forward, and now the rates are equal again. Introduce 1 year benefit periods and 2% simple inflation riders and have the marketing departments generate new cost of care studies indicating this is all people need.

They're working on that now..............
 
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