Tragic Tale

About Tragic Tale, Paul Falck wrote: “A very moving and tragic story. I am unsure if the moral of the story is that U.S. healthcare is broken. But rather, [that] LTCi is not just for old people.

As a producer, it is my duty to inform my prospect that LTC is not only for the elderly. In Bill Mantlo’s case, it may have made a huge difference in his care and rehabilitation. It certainly would have saved the stress in fighting a healthcare insurer and a system that is not designed or equipped for long-term care.

This is indeed a tragic tale. I hope that it provides some level comfort to Bill, his family and friends that his story may inspire others to take steps in averting this tragedy in their own lives. Thanks you for sharing Bill’s story.”

Medicare

About NAIC to Congress: Medicare Cost-Sharing May Result in Higher Costs, Mike Carey said: “‘Cost Sharing’ is an interesting euphemism for ‘A Device So People Don’t Seek Care.’ The reason people buy Medicare Supplement Plans is primarily to avoid out-of-pocket expenses they cannot afford. If they can afford them, they don’t buy supplemental policies. It is rare for someone to buy a plan so they can get health services. I can see the argument as holding some validity the first year of coverage where a person could have put off medical care so they could get it under Medicare.

“It seems obvious to me that this is a vendetta directed at another segment of the insurance industry and at old people in general. You have to wonder, would all this be going on if Medicare Trust Funds had been held and invested in high-grade bonds? It is the theft of those funds and their earnings that should be the focus. After all, the funds are still being hijacked. It is that action that is primarily putting the future of Medicare in jeopardy.”

LTC

About LIFE: Americans Know LTC Basics, TheDean wrote: “It is good to see the improvement in the awareness of the risks and financial consequences of LTC. Still some ways to go, but moving in the right direction. While only 8-9% of consumers own the protection of an LTC insurance policy, consider that there are many consumers where priviate insurance just isn’t feasible (they will have to rely on Medicaid). The figure I’ve seen reported is 25-30% of consumers who should be seriously considering this protection actually own that protection. While there is still some ways to go, this shows the idea of owning LTC insurance is resonating with consumers better than what is often reported.”

Wall Street

About Insurance Can Be Systemically Risky, Says Expert, Laura said: “If invited to speak as an expert panelist, you would think Professor Schwarcz would have made clear that the ruin of AIG in 2008 was its financial services division. True, we do not fully understand insurance holdings company systems — but were the financial services division to have had the reserves in place that the insurance division had, arguably, a crises could have been avoided. Divisions of companies should be regulated accordingly — and insurance was in that case regulated more heavily than financial.”

Roger McCarty

About Brokerage Industry Leader Roger McCarty Dies, Donald Yerke wrote: “R.I.P. I am honored that for over 20 years I personally helped Roger, Bill, Darren, and Byron Lucas with their brokerage recruiting programs. It is thrilling to see the work that such talented and committed individuals can accomplish.”