Current Insurance Issues (Dec. 20, 2013)
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In a program recorded live at the regular Red Hook Rotary meeting, insurance agents and Rotarians Carl and Bill Dowden discuss the Affordable Care Act (or ACA, sometimes called “Obamacare”), Cyber-Liability Insurance, and Long-Term Care Insurance. They explain how ACA relies on individual insurance companies instead of having a government-run single-payer plan, such as Medicare. While the ACA requires that insurers provide consumer protections and some benefits, its primary goal is to insure the currently uninsured, so people with satisfactory insurance now do not need to register. Cyber-Liability Insurance primarily protects companies and nonprofits from data breaches if their computer system is hacked or a device with private information is lost or stolen. The Dowden brothers also explain the differences between long-term care insurance and long-term disability insurance as well as the differences between homeowner’s insurance and flood insurance.