U.S. investigators speak of abuse in Sale of Nursing Home Insurance
Investigators from the General Accounting Office, Congress said today that they have found numerous failures on the sale of private insurance to cover high costs for home care for the elderly.
The testimony presented the efforts of Congress for setting minimum standards for such insurance, perhaps as early as this year, despite assurances that the leaders, there was no need for federal regulation.
The Inspector General of the Department of Health and Human Services, Richard P. Kusserow, appeared to support the application of federal minimum standards. He said that only 17 countries had adopted all the standards recommended by the National Association of Insurance Commissioners, an organization of government officials to regulate insurance.
The insurance market home care booming, as human beings try to ruinous against the costs of long-term care. Care fees residents averaged $ 68.50 per day or $ 25000 a year, and in major cities are often the annual costs of over $ 40000. The Reagan and Bush administrations have also develop a market for private insurance to cover these costs, in the hope that this would demand a costly federal program. Cries for seniors
Nearly two million people now have private insurance to help pay for long-term care. The number of people with such a policy has more than doubled over the past three years and will certainly grow as the elderly population increases.
In a congressional hearing, Janet L. Shikles, director of health, financing and political issues on the General Accounting Office, an investigative arm of Congress, testified today that purchasers of care before “unpredictable premium increases. Furthermore, she said that they had little or no protection against inflation on the cost of such treatment, had difficulties, the benefits for which they were entitled, and perhaps lose all their investment, if it lacks payment of a premium of 20 years.
Aggressive outlets have sold policies to consumers, are not necessary, including low-income people eligible for Medicaid, she said at the hearing of the House Ways and Means subcommittee on health. In California, they reported, officials sells an older man 16 different policies, health insurance funds over four years, half of them with the coverage of home care.
Representatives of Oregon Ron Wyden and Senator David Pryor of Arkansas, both Democrats, said it would soon be legislation on consumer protection by setting minimum standards for government insurance. This insurance covers home care and invoices can also help pay for health care services for the elderly living at home.
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