Obama Health Care drops Long Term Coverage

The long term health care provision in the Obama health care law was dropped by congress the other day. No doubt the reason was the numbers. The private LTC market is reeling already because actuarially it has been hard to get a handle on the right premiums to charge. This product is a coverage that needs to be paid into for sometime to work. Under the Federal health care LTC would become an onerous burden on tax payers because actuarially it doesn't hold up and most likely would bust the health care overhaul. If Congress gets into the insurance "game"  with health care in 2014 and the States set up their exchanges to make it happen, they better have good numbers going in. Insurance bites back hard if the actuarial assumptions are way off. Until next time be careful out there and know you risks.  K

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