First up, regular readers may recall our recent post on John Hancock's substantial (unprecedented?) rate hike. Thanks to FoIB Jeff M, we learn that they've also announced a moratorium on new group LTCi cases. Not to be outdone, fellow LTCi biggie GenWorth has announced that it's "seeking an increase of 18% on PCS I and PCS II LTC products." They cite "lower than expected lapse rates."
That's an interesting point, by the way: rates are set based on a number of factors, and most of us would recognize things like return on investments and overall claims costs to be near the top. But carriers also have a "fudge factor" built in that relies on a certain percentage of policyowners "bailing" over time; that this rush to get out of the pool never materialized is telling.
Second, FoIB Bob D alerts us to thus far under-the-radar news that many of the newly-minted Republican governors are on track to opt out of ObamaCare©. According to the Wall Street Journal's Janet Adamy:
"Newly elected Republican governors are planning to blunt key parts of the federal health overhaul and join lawsuits against it ... Mr. Walker, along with new GOP governors in Wyoming and Oklahoma, said they planned to join in the legal fights against the law's requirement that most Americans carry insurance or pay a fine."
Good on them!
That's an interesting point, by the way: rates are set based on a number of factors, and most of us would recognize things like return on investments and overall claims costs to be near the top. But carriers also have a "fudge factor" built in that relies on a certain percentage of policyowners "bailing" over time; that this rush to get out of the pool never materialized is telling.
Second, FoIB Bob D alerts us to thus far under-the-radar news that many of the newly-minted Republican governors are on track to opt out of ObamaCare©. According to the Wall Street Journal's Janet Adamy:
"Newly elected Republican governors are planning to blunt key parts of the federal health overhaul and join lawsuits against it ... Mr. Walker, along with new GOP governors in Wyoming and Oklahoma, said they planned to join in the legal fights against the law's requirement that most Americans carry insurance or pay a fine."
Good on them!
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