Two major insurance companies are trying to raise rates for long-term care insurance in Florida.
Florida's Office of Insurance Regulation website states premiums have been going up across the country for more than a decade:
"The premium increases are driven by incorrect assumptions regarding how many people would decide to cancel their coverage, the number of policyholders with cognitive issues such as Alzheimer’s, and longer life expectancy."
Metlife and Unum are both proposing rate hikes in Florida that could impact more than 10,000 people in the Bay Area, with majority of those policyholders in Hillsborough and Pinellas counties.
The regulation office will hold two public hearings on August 12, 2016. You can read more about them by clicking here.
When looking for long-term care, experts suggest you shop around, you can consult with elder lawyers, and it is best to start when you're younger if possible.
On Thursday, a special meeting was set up for Alzheimer's caregivers to give them a social support system. The Memory Cafe met for the first time at Roe's Deli in Pinellas Park.
The idea comes from a couple from Minnesota who found the solution of social interaction through a memory cafe. Once a month, the memory cafe offers social interaction, laughter, a bit of education and a lot of camaraderie.
Dr. Cate, Dementia Coach at Assisting Hands of St. Petersburg, and Arden Courts are partnering together to meet the needs of a place to come together.
The informal gathering meets once a month from 10 a.m. to 11:30 a.m.
If you have or know a caregiver who could benefit from this, contact Dr. Cate at firstname.lastname@example.org.