“About 172,000 of the affected enrollees made active decisions about their long-term care insurance benefits by the Sept. 30 decision deadline. About 96,000, or 56 percent, chose to keep their monthly premiums the same by accepting a lower level of long-term care insurance coverage. Another 40 percent agreed to pay higher premiums to keep their long-term care insurance coverage the same. Just 3.3 percent chose to stop paying premiums for long-term care insurance coverage. Many of those enrollees still have some coverage from the long-term care insurance program, because they received paid-up ‘nonforfeiture’ coverage when they decided to stop paying the premiums.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Kudos to FLTCIP CEO Paul Forte for managing this highly controversial premium increase with grace and efficiency.