A Midwestern insurer says it may change the way it handles 170,000 policies in its closed block of long term care insurance business.
Conseco Inc., Carmel, Ind., is looking into the idea of hiring Long Term Care Group Inc., Eden Prairie, Minn., to take charge of running the customer call center for the closed LTC block and processing claims for holders of the policies, Conseco says.
The Conseco employees, who now administer the closed-block policies, would become employees of Long Term Care Group, Conseco says.
Even if Conseco hired Long Term Care Group, Conseco would continue to keep responsibility for adjudicating initial claims and handling claim appeals, Conseco says.
The Conseco employees who handle those jobs would stay with Conseco, Conseco says.
Conseco also would keep responsibility for all processing functions for LTC policies issued by the Bankers Life and Casualty unit.