April 27, 2021


Skyrocketing cost of long-term-care insurance leaves a couple in a bind

The long-term-care insurance industry as a whole has suffered gigantic losses due to pricing decisions made decades ago that proved to be far off the mark: Insurers underestimated how long policyholders would live and need nursing home care, while overestimating how many would drop plans before collecting benefits (few did).

Insurers are now raising rates to account for their past miscalculations. And in recent years, some of biggest names in the industry have gotten out of the business and no longer write individual long-term-care policies.

About half of Americans turning 65 will require long-term-care services. Most will need assistance for

Read More

South Florida residents dumbfounded by rising cost of home insurance

WEST PALM BEACH, Fla. — The cost of homeowners insurance in Florida is going through the roof. Residents who say they have never filed a claim are getting hit with huge rate hikes.

Steve Eppley of Boynton Beach received quite a shock this month from his homeowner’s insurance provider.

He was hit with a $1,000 hike in one year for a home he’s owned since 2006, and he has never filed a claim.

“I calculated it to be a 52 percent increase,” Eppley said. “It’s not fair. What they’re doing isn’t fair.”

What happened to Eppley isn’t uncommon.


Read More

Suez Canal Crisis May Cost Insurance Companies Millions

Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.

There were potentially thousands of insurance policies taken out on the steel boxes stacked high on the massive boat blocking the Suez Canal and upending world trade. They could result in millions of dollars in payouts — but first, a game of passing the buck.

Taiwan’s Evergreen Line, which chartered the Ever Given, says Japan’s Shoei Kisen Kaisha Ltd — the ship’s

Read More

Bill would waive cost for NC teachers taking personal days


Thousands marched down Fayetteville St. in downtown Raleigh on Wednesday, May 1, 2019 to demand more funding from state lawmakers for public education.

[email protected]

North Carolina educators may no longer have to foot the cost of paying for a substitute teacher to cover their classes when they’re taking personal days.

Legislation filed Tuesday in the state House would waive the “required substitute deduction” for teachers who provide a reason for taking personal leave on a school day. However, House Bill 362 also says teachers who don’t provide a reason would now be responsible for paying the full cost

Read More

The Virus Cost Performers Their Work, Then Their Health Coverage

Musicians are struggling, too. Officials at Local 802 of the American Federation of Musicians, the New York local that is the largest in the nation, estimate that when changes to its plan take effect this month, roughly one in three musicians will have lost coverage: It will have shed more than 570 of the roughly 1,500 people who had been enrolled a year earlier.

“Nothing has kept me up at night more and weighed on me more heavily than the health care question,” said Adam Krauthamer, the president of Local 802 and a trustee co-chair of the union’s health fund.

Read More

How much does home insurance cost per year? Here are the US averages

Your homeowners insurance costs can depend on several factors. (iStock)

The average cost of homeowners insurance depends on a few different things, but the average for all homeowners in the U.S. is $1,249 per year, according to data analyzed by the Insurance Information Institute (III).

Homeowners insurance costs can also vary widely by state, with Oregonians paying an average of $706, while residents of Louisiana paying $1,987. If you’re shopping around for a homeowners insurance policy, read on for you need to know. Then, head to Credible for free home insurance quotes and compare insurance policies.

What’s the

Read More