LTCi Fans: A sigh of relief

As we noted almost 3 years ago, the Long Term Care insurance industry has begun paying attention to its own data:

"Until now, insurers have charged the same premiums regardless of gender ... beginning early next year, Genworth Financial, the country's largest long-term-care insurer, plans to start charging women applying for coverage as much as 40% more than men."

That's because women tend to live longer and thus incur more long term care claims.

So why bring this up now, and why the sigh of relief?

Well, it's because - for once - the gummint has (wisely) decided to let the market fend for itself:

"The U.S. Department of Health and Human Services (HHS) seems to be avoiding a battle over gender-based insurance premiums ... officials have not put a provision clearly changing or expanding federal insurance pricing restriction in the [proposed] Nondiscrimination in Health Programs and Activities (RIN 0945-AA02)."

That's good news for an industry already struggling to grow.