Long-Term Care Insurance:

Risks to Consumers Should Be Reduced

T-HRD-91-14: Published: Apr 11, 1991. Publicly Released: Apr 11, 1991.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed long-term care insurance policies, focusing on whether: (1) states and insurers met National Association of Insurance Commissioners (NAIC) standards; (2) consumer protection issues were adequately addressed; and (3) there was a need for minimum federal standards. GAO noted that: (1) while states made substantial progress in adopting long-term care insurance standards, many states still failed to meet NAIC minimum standards; (2) insurers adopted NAIC standards more quickly than states, but their policies often did not meet more such recent NAIC standards as disclosure statements; (3) NAIC standards did not address definitions, eligibility criteria, or grievances; (4) NAIC standards did not protect consumers from inappropriate prices and unpredictable premium increases; (5) NAIC should consider expanding and strengthening its standards to achieve more uniformity among policies, improve methods for determining eligibility, and provide greater protection against the loss of a policyholder's coverage and financial investment; and (6) Congress may wish to consider legislation to establish minimum standards for long-term care insurance.

Sep 13, 2017

Sep 12, 2017

Sep 8, 2017

Sep 7, 2017

Aug 10, 2017

Jul 27, 2017

Jul 21, 2017

Jul 20, 2017

Looking for more? Browse all our products here