“Why a Pennsylvania insurer’s collapse could whack Californians in the wallet,” by Chad Terhune, Kaiser Health News

“Among all the reasons for rising health insurance premiums, this one might be the most obscure: A long-term care insurer in Pennsylvania just went belly-up. Health insurers across the country are on the hook for hundreds of millions of dollars in losses stemming from the insolvency of Penn Treaty American Corp., of Allentown, Pa., and its two subsidiaries. . . . This is one of the largest insurance failures in U.S. history, said Joseph M. Belth, a professor emeritus of insurance at Indiana University. ‘The impact of this situation on the insurance industry is huge,’ Belth said. ‘Companies will try to pass it on in some fashion to policyholders.’”

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

Move waves from the Penn Treaty sinking.

Why a Pennsylvania insurer’s collapse could whack Californians in the wallet

#goldencareagent

#penntreaty