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BUSINESS
February 21, 2013 | By Chad Terhune, Los Angeles Times
Dailey Mayo received some stunning news in the mail last week: an 85% rate increase for the long-term-care insurance he has had for 15 years from the California Public Employees' Retirement System. The retired sales manager in Pasadena said his monthly premium of nearly $400 would jump to $738, or about $8,850 annually, under this plan. "I'm 82 now and I might need this care soon," he said. "It really ticks me off that they are doing this. " More than 110,000 CalPERS policyholders are receiving similar news after the pension fund's board approved the changes late last year.
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NEWS
October 12, 2010
The typical American spends about $317,000 over his or her lifetime in medical costs, with 60% occurring after the age of 65. By comparison, people with autism spend nearly twice as much, with 60% of the costs starting after the age of 21. The figures were part of a study, "The Lifetime Distribution of the Incremental Societal Costs of Autism. " The nonprofit organization Talk About Curing Autism estimates the annual cost of treating a child with autism this way: $11,250 for speech therapy, $11,250 for occupational therapy, and $59,400 for behavior analysts and therapists for a total of $81,900.
BUSINESS
September 6, 1990
Bondholders of bankrupt American Continental Corp. filed a class-action lawsuit Wednesday to seek a court order enforcing insurance policies that 21 carriers provided for the directors and officers of the company and its primary unit, the failed Lincoln Savings & Loan in Irvine. The bondholders already have filed more than 15 lawsuits against the company and thrift seeking the return of about $200 million in investments.
BUSINESS
January 24, 1993
A recent Los Angeles Times article, "Big Insurers Cast Wary Eye on Clinton's Health Plans" (Dec. 7), erroneously reported that Phoenix Home Life does not support President Bill Clinton's health care reform proposals. In fact, Phoenix Home Life has a significant area of agreement with many of the views expressed by the President. In working out the details necessary to achieve true health care reform, we need to be mindful of the impact of each and every proposal on the ultimate users of the system, the consumers.
NEWS
May 13, 1992 | LYNN SIMROSS
If you're shopping for renter's insurance, be sure to: 1. Make a detailed inventory of your household goods and personal possessions, estimating the value of each. Note prices and dates of purchase where possible. Keep a copy of your list, including store receipts and photographs of items, in a safe place away from home. 2. Obtain quotes from several insurers, comparing costs, quality and coverage, as premiums vary widely. 3.
NEWS
April 24, 1988
"The Fight of Their Lives" was both illuminating and forthright. I thought that most of the information was accurate: that the implications both for the public and the health care industry are enormous and all bad. Simross and Johnston touched on two vicious lapses in the practice of insurance, permitted by law, that have needed to be changed for some time. The changes needed are not solely to combat abuses that can, do and will arise out of AIDS claims, but other illnesses as well.
BUSINESS
February 2, 2000 | JUAN HOVEY
If you're like many business owners, you embrace technology for the efficiencies it can bring to your operations--and you worry about keeping abreast of it. Your insurance broker should worry, too, because if your business coverage lags behind the pace of technological change, it may cost you more than necessary, and in a worst-case scenario it could land you in a fight with your carrier. Why?
BUSINESS
January 13, 2002 | KATHY M. KRISTOF, TIMES STAFF WRITER
Investors driven to safe havens--such as bank deposits and certificates of deposit--may be shocked to find that not all bank deposits are safe. In the last three years, investors have lost $114 million to bank failures because they exceeded the $100,000-per-depositor insurance limit imposed by the Federal Deposit Insurance Corp. And even as failures such as the collapse last summer of Superior Bank of Hinsdale, Ill., grab headlines, the estimated amount of uninsured deposits in U.S.
BUSINESS
March 7, 2014 | By Michael Hiltzik
In a debate almost totally infected with myth, perhaps the most tenacious myth about the Affordable Care Act involves the tsunami of old insurance policies that were supposedly canceled by insurers because they didn't comply with the ACA. How many policies? The figures are all over the place -- some say 17 million, some say 4.7 million. The implication is also murky -- however many cancellations happened, were all these people left without insurance? Two experts at the Urban Institute have crunched the best numbers we have, and their conclusion is that 2.6 million policies were canceled because of noncompliance with the ACA -- but that more than half the policyholders were eligible for subsidized, low-cost replacement insurance.
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