“In early December, two insurance units of Allentown, Pa.-based Penn Treaty American Corp. that focused on long-term care (LTC) became the latest in a series of LTC insurers to declare failure. Though relatively small carriers, their liabilities were estimated to be dauntingly large”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Article cites Center friend Brian Gordon of corporate member MAGA. When contemplating Penn Treaty’s fate, it’s important to consider the federal government’s “unsustainably low premiums,” “reckless underwriting standards,” and unfunded liabilities for Social Security, Medicare and Medicaid, somewhat larger and more vulnerable LTC payment sources than the ill-fated LTC insurer.
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