MetLIfe, Unum under scrutiny for big rate hikes in hearing today

Bernard Haut

Bernard Haut

Seniors as far away as Wellington say they are planning to attend a hearing today in Miami on proposed rate increases up to 114 percent in long-term care insurance.

Others can watch the hearing that starts at 1 p.m. live on the Internet at The Florida Channel.

Hearings for MetLife and Unum deal with proposed rate increases up to 95 percent and 114 percent respectively.

After hearing testimony from company officials, consumers and others, the state’s Office of Insurance Regulation will issue a decision in coming weeks.

The insurance pays for services like help with bathing, dressing, eating or housework, at home or an assisted-living facility. Such services are not routinely covered under Medicare, and more than 10 million people have purchased policies from the private market. But insurance companies say costs have mushroomed as people live longer and use the services more, forcing them to seek higher rates.

As The Palm Beach reported, seniors like Bernard Haut of Boynton Beach say the rate increase are unfair to people on fixed income: “They are forcing people who probably can’t afford this increase to give it up when they now need it more than ever.”

 

Hearing on MetLife, Unum

  • Date: Today, Friday, Aug. 12
  • Time: 1 p.m.
  • Place: Kovens Conference Center, Room 1145, Florida International University, Biscayne Bay Campus, 3000 N.E. 151st St., Miami
  • Watch: thefloridachannel.org

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