$13.5 Billion in Long-Term Care Insurance Claims Paid In 2022

long term insurance claims report just in

Insurers paid out $13.25 Billion in long term care insurance claims during 2022 according to a new report released this week by the American Association for Long-Term Care Insurance (AALTCI). “Consumers need to understand that long-term care insurance companies have paid benefits to millions of Americans over the past decades,” says Jesse Slome, AALTCI’s director. “In fact, each year, insurers pay more in claim benefits to more beneficiaries than the prior year.” According to Slome, some $12.3 Billion in claim benefits was paid out in 2021. “The over $1 Billion increase…

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West Virginia legislators pass new law that gives consumers access to information on their insurance policies

The West Virginia House of Delegates has granted approval of a new legislation that would require insurance companies to disclose information regarding policies to consumers filing claims. The bill received support from both parties and passed with a 64-33 vote on Monday. The law aims to provide consumers with more understanding of how the insurance industry works and what they can expect to deal with when filing claims. It will also help consumers understand the limitations of their own policies and discover whether or not an insurer can deny a…

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