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ISSUED: 4/23/2002 FOR IMMEDIATE RELEASE

DEPARTMENT LAUNCHES NEW "LONG TERM CARE RESOURCE CENTER" ON ITS WEB SITE

Superintendent of Insurance Gregory V. Serio today unveiled the Department’s new "Long Term Care Resource Center" on its Web site as part of the Department’s ongoing effort to promote consumer education about this important health care coverage.

"The Department has designed this new Long Term Care Resource Center on our Web site to provide consumers with the most comprehensive information on long term care and the insurance policies available in New York to assist in paying for long term care services," said Serio. "The decision to buy long term care insurance is a very important one. I encourage consumers to utilize this important resource."

The Long Term Care Resource Center at www.ins.state.ny.us is an important source for consumers who are determining their needs for long term care insurance. The Resource Center provides the following information on long term care:

  • What is long term care;
  • The need for insurance coverage of long term care services;
  • Long term care benefits paid by other health insurance;
  • Insurance covering long term care services;
  • Classifications of insurance policies covering long term care services;
  • Favorable tax treatment of certain policies covering long term care services;
  • Factors to consider before purchasing insurance covering long term care services;
  • Comparing insurance that covers long term care services;
  • Optional long term care benefits;
  • Where to call for information on long term care and other useful sources; and
  • Insurance companies offering long term care policies.

"With it being estimated that more than 5 million Americans need long term care due to chronic or serious illness, disability or simple old age, the new Resource Center gives New Yorkers the necessary tools they need to make an informed decision when ascertaining their long term care needs," added Serio.

 

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