Los Angeles, CA, June 20, 2013 --(PR.com
)-- The director of the American Association for Long-Term Care Insurance issued a statement today praising Maine lawmakers who sustained Governor Paul LePage's veto of a bill involving long term care insurance.
"We do not take political positions but this effort was a wasteful effort and a mistaken attempt to force insurers to underprice policies that would have put many citizens at risk," explained Jesse Slome, executive director of the national group. "The whole effort to pass legislation mistakenly used terms like unfair discrimination which clearly was misleading."
The original bill sought for a the state study issues related to long term care insurance including the fact that insurers have started using gender-based pricing. "Insurers have demonstrated that women account for two thirds of all long term care insurance claims and roughly two thirds of the $6.6 billion paid out in claims last year," reports Slome. "It is only logical and appropriate that women pay more for insurance coverage just the way smokers pay more for life insurance."
In his veto letter Governor LePage noted that he opposes "unfunded mandates" that "create a significant drain on valuable state resources." The Maine House voted 87-55 to uphold the veto.
We commend the Governor for directing taxpayer dollars to further the public good. "We understand that women do not like to pay more for this important protection, but they have a far greater risk of needing care and receive far more benefit so it is understandable to all," Slome concluded.
The national long term care insurance expert explained that not all long term care insurance companies have started charging women more for protection. "That is a reason we strongly advise people to work with knowledgeable professionals who can get folks the best protection for the best cost," Slome added.
According to Association data, some 71,000 residents in Maine own long term care insurance. Roughly eight million Americans have some form of coverage in place reports AALTCI.
To obtain long term care insurance costs or connect with a designated specialist, a member of the American Association for Long-Term Care Insurance, visit the organization's website or call 818-597-3227.