Dear John: We are seniors – I'm 81 and she's 76 – and our premium on the long-term care policy was increased from $6,538 to $10,068 by Genworth Financial. That's an annual increase of 54 percent.
We couldn't afford this increase, so we had to opt for a reduction in benefits.
I possess a simple question regarding this increase: Shouldn't Genworth – an institution with numerous insurance providers, accountants and actuary experts – happen to be able to determine future life span and long-term care needs for its subscribers?
If they did this correctly, a future increase might have been avoided. My wife and I took out our policy in 2007 and also have not had to use any benefits.
I shared my concerns with our state senator and that he took the time to follow track of a letter towards the superintendent of financial services in Albany. Perhaps this will help other Genworth subscribers within the same position. L.P.
Dear L.P.: Thanks for sharing these details. You may already know, I already wrote about Genworth and also the increases it had been putting through. And it is only some of the one – all long-term care information mill doing the same.
But let's be grown up here. Genworth is a publicly owned company that's in the business not just of providing long-term care, but additionally of creating money. So, like every other company, it will subjected to as numerous increases as it can get away with.
And the company probably figures that if it drives both you and your wife from your policy, that's even better, since you may start collecting at the ages.
Dear John: You and the rest of the media missed the boat on why there is subpar economic growth.
Try running a business under the massive and ever-expanding regulatory burden and talk to other people who do so, and then you'll realize that regulations are the cancer that's slowly but inexorably killing the worldwide economy. G.T.
Dear G.T.: OK. I'll jump to your boat.
But there are many other reasons why the economy is failing at this time.
Some help delivering the goods
Dear John: We at Selis Manor for that Blind were built with a beautiful arrangement using the Associated supermarket on 14th Street and Eighth Avenue.
We used to call up and order groceries and use our food stamps over the telephone. No problem whatsoever.
But the supermarket closed down, so we are left to fend for ourselves.
We are stuck inside due to bad backs, etc., and merely can't escape.
We are forced to use drugstores and delis because supermarkets we can afford are extremely far away. Met Foods and Gristedes have phone-in service, although not for orders using food stamps. It's not fair at all. H.M.
Dear H.M.: I spoke with John Catsimatidis, the owner of Gristedes, and he will work something out for you. He seemed excellent and cooperative and understands your dilemma.
I've already sent you his direct telephone number. Please have the manager of the facility call him and exercise the details.
There are apparently rules that make it difficult to use food stamps on phone orders. It's something related to the private identification numbers.
FreshDirect, which only makes home food deliveries, is focusing on the same issue in certain pilot programs in The Bronx. I tried, but I couldn't have it to pilot your neighborhood too.
So enjoy your Gristedes deliveries. And don't forget to tip.
