Penn Treaty American Corp. has filed audited financial statements and a Form 10-K for the period ended Dec. 31, 2005.

Penn Treaty, Allentown, Pa., a long term care insurer, says one significant change in its audited financial statements is the reclassification of $2.3 million in “benefits expense to a cumulative effect from change in accounting.”

The change does not affect the 2005 results or the company’s book value, Penn Treaty says.

The company is reporting a $14 million net loss on $309 million in revenue for 2005, compared with $20 million in net income on $320 million in revenue for 2004.

A copy of the Penn Treaty 10-K is on the Web