on Oct 3rd, 2007Long Term Care Insurance Providers Grilled by Chef Charles Grassley
How refreshing to see Senator Charles E. Grassley of Iowa actually using his position of power to pester those long-term care insurance companies who love to collect premiums but often fall short when when it comes to paying out after the insured winds up in the nursing home. The racket of collecting huge premiums and then reneging on your obligation to cover the cost of the wildly expensive nursing homes is long overdue. Three cheers for Senator Grassley!
We also appreciate the fact that he’s mucking around in how private equity’s involvement in nursing homes is effecting the quality of how those homes are run. The hedge fund boys seem addicted to making money regardless of whether its their own mother in a nursing home. I can hear those hedgies saying, “Need heat, trying wrapping yourself in an extra blanket because with the cost of heating oil is an expense that needs to be eliminated.”