Thursday, August 30, 2012

New Long-Term Care Insurance Claims Protections | The Lund Report

Hat tip to the invaluable Lund Report:
Oregon Insurance Division 
July 10, 2012 -- Oregonians who have long-term care insurance now have the right to have their claims paid promptly and to appeal an insurance company decision to deny benefits.

The changes are due to a 2011 law that became effective for people who buy new policies starting July 1, 2012. For those with existing policies, the law is effective when their policy renews, meaning it will be phased in over a year’s period.

Consumers with long-term care insurance policies have not had the same protections as consumers with other health insurance claims, yet they are some of the most vulnerable Oregonians,” Oregon Insurance Commissioner Lou Savage said.

Now, people with long-term care insurance or their representatives can more easily challenge claim denials or delays, which are the most typical complaints we receive,” Savage added. . . . . (more)