A showdown between David and Goliath is developing in the long-term
care insurance industry. On one side is a large insurance company,
Conseco, that last year shifted its long-term care insurance policies
to a trust in Pennsylvania where it is incorporated.
On the other side is Bill Silverman, a resident of an assisted
living facility in Massachusetts. He has turned into a determined
citizen activist in terms of demanding accountability of the insurance
company, as well as state agencies involved in allowing Conseco to
transfer its policy holders to an independent trust which has now
assumed responsibility for long-term care insurance benefits.
Bill Silverman and others are concerned that the trust is dependent
on substantially increased premiums from current policy holders and an
unsecured loan from Conseco. They suspect that in the current economic
climate, it's only a matter of time before the trust becomes
"insolvent."
The story is documented by a blog and web site based in Santa Fe,
New Mexico that specializes in commenting on the growing tide of
activism among the American public: www.guerillaorganizing.org.
Ever since the insurance trust was formed in Pennsylvania in the fall
of 2008, Bill Silverman has been working with the tools he has
available to get out the word: a cell phone, email account and a blog: www.bills2359.blogspot.com....
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