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‘I feel deeply ripped off.’ Steep hikes in long-term care premiums jolting many consumers
Sacramento Bee

Davis resident John Rundin is outraged that his insurer wants to raise the premium for his long-term care coverage by 60 percent, and he’s convinced that this sharp increase, paired with the company’s admonition about more hikes in future, is a harbinger that long-term care insurance is on its last legs.

“The letter was quite clear in saying, ‘Oh, this is only our first bite at the apple. We tried to get more, but the state prohibited us from getting more,’” Rundin said. “I’m guessing that someone knew that this was all going to blow up. They knew this was going to be the result. I feel deeply ripped off. I was misled and was sold an exploding cigar.”