Washington State is about to pass a public LTC Program

[goillini52]

Don't forget when Medicare for Seniors passed, it was gloom and doom about the future of the insurance business... Turned out to be one of the greatest opportunities in the history of the industry..

Medicare for all means that everybody's a prospect for a Medicare Supplement. Opportunity knocks.

 

[Arthur Rudnick]

Rousemark said:
"Don't forget when Medicare for Seniors passed, it was gloom and doom about the future of the insurance business... Turned out to be one of the greatest opportunities in the history of the industry".

True, but what would have happened if Medicare paid 100% instead of 80% and all co-pays, deductibles, out of pocket costs, dental, eye care and drugs were paid 100% by the government?
Different story, right?

 

[goillini52]

Rousemark said:
"Don't forget when Medicare for Seniors passed, it was gloom and doom about the future of the insurance business... Turned out to be one of the greatest opportunities in the history of the industry".

True, but what would have happened if Medicare paid 100% instead of 80% and all co-pays, deductibles, out of pocket costs, dental, eye care and drugs were paid 100% by the government?
Different story, right?

Then the national debt would be 50 trillion, instead of 22 trillion.

 

[rousemark]

Rousemark said:
"Don't forget when Medicare for Seniors passed, it was gloom and doom about the future of the insurance business... Turned out to be one of the greatest opportunities in the history of the industry".

True, but what would have happened if Medicare paid 100% instead of 80% and all co-pays, deductibles, out of pocket costs, dental, eye care and drugs were paid 100% by the government?
Different story, right?

Probably ain't gonna happen but there will still be opportunity.. Just, like now, even if people have medicare and a plan F supp. they still buy ancillary insurance to cover non medical expenses.

 

[Barbara S]

And yet, WA will not approve the sale of STC policies because they are worried that the clients will buy them and "think" they have LTC (this is from their response to the now-defunct NAIC Committee on Short Term Care Insurance) - so it's not OK if the client buys a 1 year plan from Aetna or GTL or Medico, but it is OK if they rely on a $36,000 benefit from the state - which won't be available for at least 10 years. Typical.

 

[somarco]

it is OK if they rely on a $36,000 benefit from the state - which won't be available for at least 10 years.

But it's from the government. Socialists will love it.