Bruce Bentley

PASCO COUNTY, Fla. - Nick Catalano, a retiree in Pasco County, never saw the other vehicle arrive. The driver slammed the back of his SUV at an intersection in New Port Richey last October. "Suddenly something hit us so hard that we drove through the three lanes of oncoming traffic," said Nick's wife Mildred, who was in the passenger seat. The accident caused approximately $ 3,000 in damage. Nick, who has a disability, was unable to get his walker in and out of the tailgate of the SUV. Since last October he's been struggling to get the walker into the back seat. According to the accident report, an FHP soldier charged the other driver with negligent driving. So Nick filed a claim with the other driver insurance. Two months later, the insurer sent a letter denying the claim. In this letter, Direct General wrote: “At this point we have not yet been able to speak to our policyholder about the damage. Unfortunately, based on this information, I have to refuse to pay ...

The entire long-term care insurance industry has suffered gigantic losses due to pricing decisions made decades ago that have proven a long way off: insurers underestimated how long policyholders would live and need nursing home care, while overestimating how many of those plans would sink before collecting of achievements (few have). Insurers are now increasing rates to accommodate their previous miscalculations. And in recent years, some of the biggest names in the industry have gone out of business and stopped writing individual long-term care guidelines. About half of Americans age 65 will need long-term care services. Most will need help for less than two years, but about one in seven will need it for more than five years. The average cost of care in a nursing home for a year in Massachusetts exceeds $ 125,000. The average assisted living cost in Massachusetts is more than $ 65,000 per year. The Flannerys are retired with a steady income and say they cannot afford the higher p...