United Security Assurance Enhances Their LTCi Plans to Help Meet Market Needs

SOUDERTON, Pa., March 17 /PRNewswire/ -- United Security Assurance Company of Pennsylvania ("USA") understands the importance of providing quality senior health products, and over the past 27 years has developed quality long term care plans to help address customer needs.  USA offers comprehensive non-tax qualified, tax qualified, and state LTC Partnership certified long term care insurance plans, along with stand-alone home health care plans, to help cover expenses that are not traditionally covered by Medicare, medical, and disability insurance.  

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USA knows that the need for long term care services can arise at any time.  A serious illness or accident can strike people at any age. While many people will need long term care, few plan for it.  The average cost of a private room in a nursing home in the United States is $203 per day or $74,095 annually(1).  Elderly couples -- those 65 years and older -- who need long term care represent a growing segment in our society.  A Census Bureau report dated June 2009 states that 50 percent of this age group will require some form of long term care by 2050.  In addition, the 75-plus age group will have the greatest need for long term care; and as a result, this group must manage their finances carefully to meet these costs and enjoy an independent lifestyle during retirement.  For all these groups, USA most recently enhanced their Florida products to include more affordable options:

• Long Term Care plans with a one year benefit period and 180-day elimination period
• A Home Health Care plan with a six month benefit period

And, to help fill a gap left in the marketplace, USA launched two products in Pennsylvania -- LifeStyle Solutions(SM) and LifeStyle Solutions Select(SM).  These plans offer individuals who are being treated for moderately extensive to substandard medical conditions the opportunity to purchase long term care insurance.  "We are pleased to offer seniors these much needed, new long term care products," said Bill Neugroschel, CEO and President of USA.  "These new products have strategically positioned USA as a leader in the LTCi marketplace."

About United Security Assurance Company of Pennsylvania

United Security Assurance Company of Pennsylvania (http://www.usa-cal.com), a privately held company, is dedicated to providing quality health products at fair and reasonable rates, and committed to the fair treatment of its agents and policyholders.  The company currently offers products in 17 states, and has expertise in the individual insurance market, especially long term care, home health care, hospital indemnity, and senior life products. 

(1) GenworthFinancial's 2009 Cost of Care Survey.

SOURCE United Security Assurance Company of Pennsylvania