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DELAWARE INSURANCE COMMISSIONER HOLDS HEARING TO IMPROVE REGULATION OF LONG-TERM CARE INSURANCE

 DELAWARE INSURANCE COMMISSIONER HOLDS HEARING TO IMPROVE
 REGULATION OF LONG-TERM CARE INSURANCE
 DOVER, Del., Sept. 10 /PRNewswire/ -- The Delaware Insurance Department today heard testimony from department staff and representatives from the insurance industry at a public hearing to amend the Insurance Department's regulation governing the sale of long-term care insurance.
 Proposed amendments to the existing regulation will establish new marketing standards for insurers and their agents; will increase benefits for community-based long-term care, such as that received in adult day care centers; will require the delivery of additional consumer information before the purchase of a long-term care policy; and, will prohibit companies from applying new waiting periods due to pre-existing health conditions when policyholders upgrade their insurance coverage.
 Insurance Commissioner David N. Levinson testified at this morning's hearing that these amendments are intended to improve the quality of long-term care insurance policies marketed in Delaware and to increase the educational requirements of those agents who sell long-term care insurance in this state.
 Levinson has stated that it is his intention to continue to improve regulations governing the sale of both long-term care insurance and Medicare supplement insurance, health insurance that is sold primarily to those 65 years old and older.
 "We must make every effort to ensure that Delaware's senior citizens have insurance protection that is meaningful and affordable and that insurance companies are able to pay claims when policyholders need health care benefits," said Levinson.
 -0- 9/10/92
 /CONTACT: David N. Levinson, Delaware Insurance Commissioner, 302-739-4251/ CO: Department of Insurance ST: Delaware IN: INS SU:


JS-MJ -- PH046 -- 8209 09/10/92 16:46 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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