HEARING - U.S. Senate Special Committee on Aging

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177 1 Health conditions which you may presently have (pre-existing conditions) may not be immediately or fully covered under the new policy. This could result in denial or delay in payment of benefits under the new policy, whereas a simila claim might have been payable under your present policy. 2. You may wish to secure the advice of your present insurer or its agent regarding the proposed replacement of your present policy. This is not only your right, but it is also in your best interest to make sure you understand all the relevant factors involved in replacing your present coverage. 3 (To be included only if the application is attached to the policy.) If, after due consideration, you still wish to terminate your present policy and replace it with new coverage, read the copy of the application attached to your new policy and be sure that all questions ame answered fully and correctly. Omissions or misstatements in the application could cause an otherwise valid claim to be denied. Carefully check the application and write to (Company Name and Address) within thirty (30) days if any information is not correct and complete, or if any past medical history has been left out of the application. (Company Name)
(pinnal Rasting &mdsninn 178 Benefits under individual long-term care insurance policies shall be deemed reasonable in reation to premiums provided the anticipated lcs ratio is at least 5596 for conditionally renewable policies, 50% for guaranteed renewable policis and 45% for noncancellable policies. In evaluating the anticipated loss ratio, due consideration shall be given to all relevant factors. including: 1. 2. 3. 4. 5. 6. 7. L. Statistical credibility of incurred claims experience and earned premiums; The period for which rates arn computed to provide coverage; Experienced and projected trends; Concentration of experience within early policy duration; Expected claim fluctuation; Experience refunds, adjustments or dividends; Renewability features All appropriate expense factors:
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S. HRG. 100-69 CATASTROPHIC HEALTH
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CONTENTS Opening statement by Senat
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2 Second, I think the private insur
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4 So the question before us is how
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6 the elderly, long-term health car
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8 ments for our retirement. I might
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10 Mrs. YELINECK. Well, it would be
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12 As I understand it, you have not
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14 Mrs. YELINECK. One does not expe
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16 Senator BURDICK. Well, thank you
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18 Mrs. YEL.INECK. No. I started ou
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20 Therefore-I am supposed to take
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22 Chairman MELCHER. Well, I am ple
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24 month. Let us assume it costs $1
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26 STATEMENT BY SENATOR PETE WILSON
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28 Mrs. RIEGER. We have; we have wo
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30 Four years ago this August was w
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32 she has only 50 percent vision i
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34 Senator HEINZ. So it is both a p
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36 rich. Indeed, in the academic co
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38 pointedly in the comment from Mr
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40 finding out is that it is very l
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42 industry's role in providing cat
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44 Senator HEINZ. So things are wor
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46 Chairman MELCHER. In exactly the
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48 plement policy, what should that
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50 - 2 - I am Robert Shapland, Vice
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52 - 4 - CATASTRIPC PROTECTION IiDE
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54 -6- MiCIGAP INSJRANCE: A RPL1C/P
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56 To ensure that all of these cont
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58 - 10 - The HJAA also endorses Me
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60 - 12 - Finally, given that Congr
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62 - 14 - A recent HLAA survey of o
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64 Chairman MELCHER. Senator Heinz.
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66 Mr. SHAPLAND. I think we are in
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68 Those problems are real problems
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70 Mr. SHAPLAND. Oh, no. There are
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72 comprehension, and it is growing
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74 that educational process, and we
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76 So we have supported and activel
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78 Mr. SHIAPLAND. How much would nu
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80 rently being offered by the indu
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82 Recently, Karri Lynn has started
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84 Mr. Chairman and Members of the
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86 standards for voluntary certific
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88 non-group subscribers of reporti
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90 We believe a new federal program
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92 However, public awareness is nee
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94 Item 3 Testi~ony of GAIL SHEARER
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96 to Secretary Bowen's proposals c
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98 -4- most-states do not monitor t
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100 Catastrophic Protection within
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102 - a - participants and in part
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104 - 2-- Consumers Union suV orts
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106 29), but fails to acknowledge t
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108 explore all alternatives to lon
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110 adds to the complexity of Medic
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112 - 10- Consider first the propos
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114 - 12- insurance premiums and me
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Consunmer Unon Pubtishcr of Consume
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FOR RELEASE AT 9:00 P.M. H2ST) TUES
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120 Itema I CENTER FOR MEDICARE ALw
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Page 3 122 aide services, however,
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Page 5 state treasuries." 124 Judge
Page 129 and 130: 126 462 6485 New Developments 10,05
Page 131 and 132: 128 462 6-85 New Developments 10,05
Page 133 and 134: 130 462 6-85 New Developments 10,05
Page 135 and 136: 132 10,930 New Developments tI.PZ ;
Page 137 and 138: 10,932 134 New Davelopments 492 346
Page 139 and 140: 136 10,934 New Developments It! ;6
Page 141 and 142: 10,936 138 New Developmenlt I. Thc
Page 143 and 144: 140 10,938 New Development. 492 S-8
Page 145 and 146: 10,940 142 New Developments i92 586
Page 147 and 148: ATroR EYS -HARLES C. -ULiIN JUDITH
Page 149 and 150: 146 reformed its decision-making pr
Page 151 and 152: 148 : 14 2i57 New Developments 13,1
Page 153 and 154: ~ 150 a>, rsn Cdw ~w (e d rum 0A7,.
Page 155 and 156: 152 All Of these figures are based
Page 157 and 158: 154 The requirements of this Act sh
Page 159 and 160: 156 Drefting Note: Where the word "
Page 161 and 162: 158 (b) The issuance of the group p
Page 163 and 164: 160 (2) Contain a provision establi
Page 165 and 166: 162 and competitive reasons. It is
Page 167 and 168: 164 -13- E. Affordability of Long T
Page 169 and 170: NAIC LTC ADVISORY COMMITEE EXPOSURE
Page 171 and 172: Setinzn IS. Poicyx D~efinitieno aid
Page 173 and 174: 170 3. The term "noncancellable' ma
Page 175 and 176: 172 extension of benefits beyond th
Page 177 and 178: artinM B Requirmnts for Rplnmacwt 1
Page 179: 176 The above "Notice to Applicant"
Page 183 and 184: APPEMI!X B 180 OCWARISCN OF lVLCY i
Page 185 and 186: COMPAIeSON OF LOtG TEIM CoAt PfLtCI
Page 187 and 188: COMPABI:SZN OF LC#C TE" CAiE -OLICI
Page 189 and 190: COWaPAISON Of LOSt TERM CARE POLICI
Page 191 and 192: cowRiiSOi or touTE reM CasE nOuczcS
Page 193 and 194: COGPARISON OF LONG TERM CARE POLICI
Page 195 and 196: SOME BASIC THINGS YOU SHOULD KNOW M
Page 197 and 198: Private health insurance is availab
Page 199 and 200: WHAT MEDICARE PART B PAYS 196 MEDIC
Page 201 and 202: EXPENSES NOT COVERED BY MEDICARE Me
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HEARING - U.S. Senate Special Committee on Aging

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