Robert Hunter, director of insurance with the Consumer Federation of America, maintains that some long-term care insurers have underestimated the costs of nursing homes and are struggling to provide benefits.
Estimated reading time: 0 minutes, 25 seconds
Regulators Force Long-Term Care Insurer to Close
In an unusual development, regulators are forcing long-term care insurer Pen Treaty of Allentown, Pa., to liquidate its assets and shut down its operations, which is leaving many of its shareholders with only a $300,000 benefit provided by some states. So reports The New York Times.
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