Long-term care insurance company tried to cut off benefits for a woman with Alzheimer's Disease who required 24 hour care:
Unfortunately, there's a $10 million cap on these awards in Montana, so the award will be successfully appealed and reduced.
Score One for the (Confused) Little Guy
By elliemae Follow Sat, 14 Apr 2012, 4:06pm 764 views 2 comments
In Saint George UT 84770
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If the courts had any brains whatsoever, they would make the $10 million that's under the cap come directly out of the pockets of every executive in the company rather than the company's funds. That way, the key decision makers, the root of the problem, would be punished instead of simply making the other policy holders pay for the award.
If the executives feel no pain, the punitive damages have no effect. The courts need to pierce the corporate veil and hold those ultimately responsible accountable.
It would also be nice if the executives got a few years in pound-me-ass prison for reckless endangerment of the elderly.
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I've seen some outrageous insurance policies in the past - like the ones that require a patient use 100 days of Medicare before the insurance kicks in. Many (most) people don't use the entire 100 days - and therefore wouldn't be eligible. The ones that don't adjust for inflation are useless too - $100/day used to be enough for placement, now it's half or less of the daily rate.