Tom McInerney

Steps on the Path to Public/Private Long-Term Care Financing

Yesterday, the CEO of the nation’s largest long-term care insurance company, Genworth, acknowledged the US needs a new model of LTC insurance that includes some government role.  Tom  McInerney estimated that between half and two-thirds of Americans simply cannot afford to buy insurance in the traditional private market.  A 50-something can expect to pay an average of $2,500-$3,000-a-year for a typical [...]

By |2015-06-24T15:36:34-04:00June 24th, 2015|long-term care insurance|2 Comments

More Bad News for Long-Term Care Insurance: A Major Carrier Reassess the Business Amidst More Rate Hikes

Genworth Financial, the nation's largest seller of long-term care insurance, is engaged in an “intense, very broad, and deep review of all aspects of our long-term care insurance business,” president and CEO Tom McInerney told investors last week. Industry sources say the firm could withdraw from the market if it does not win regulatory approval for new rate hikes on [...]

By |2013-08-08T23:36:48-04:00August 8th, 2013|long-term care insurance|0 Comments