Some insurance regulators are asking whether insurers should be selling long term care insurance.[@@]
The comments surfaced during a talk about how to improve the Long Term Care Insurance model act and regulation. Some of the talk focused on the issue of post-claims underwriting. It occurred here during a gathering of the senior issues task force at the spring meeting of the National Association of Insurance Commissioners, Kansas City, Mo.
Wisconsin Insurance Commissioner Jorge Gomez said that it was possible that a discussion of LTC insurance was needed to determine “whether or not it is viable and should even be sold.”
Florida Insurance Commissioner Kevin McCarty agreed, saying, “The overarching issue is whether the product is suitable for anybody.”