“The Looming Collapse of a Long-Term Care Insurer Raises Questions for DFS,” by Bill Hammond, Empire Center

“The Department of Financial Services filed court papers on Feb. 22 seeking to take control of the American Independent Network Insurance Co., or AINIC, a long-term care insurance provider. The company has approximately 690 policyholders across the state, a portion of whom are drawing benefits as residents of nursing homes. … AINIC’s parent companies were recently closed down by regulators in Pennsylvania, leaving the company in ‘hazardous condition,’ according to one of the court filings on behalf of DFS Superintendent Adrienne Harris.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Sad saga continues.