NPR did a story this week on long-term care insurance. The reporter asks, but failed to answer, many important questions:
-- Will you need the insurance?
-- Can you afford the premiums?
-- Can you afford not to have the coverage?
-- If you get the insurance, will they pay on claims when you need them to?
-- If they don't pay (and you don't happen to live in Oregon), what is your recourse?
Oregon recently implemented an appeals procedure to review denied claims, which saves elderly citizens from having to wade through the complicated policy documents and court procedures to secure payment. Oregon, though, tends to be fairly progressive on these types of social issues.
Will other states follow? Time will tell.
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