I and my wife have had a home health care policy since 1995. Cost is $2,558 a year for both. Pioneer of Illinois was the original company, now Conseco of Indiana. From publicity I have read and notices I have received by mail, I have been very concerned about the viability of this policy.

I am 80 and my wife is 83 and really am concerned about industry wide complaints and specifically Conseco regarding their ability and desire to accept and settle claims. I am aware of a class action suit against Conseco in Philadelphia, and a high count of complaints from North Carolina, where the policy was purchased. I am trying to get an idea if I should continue or drop this policy. My feeling now is that the policy is almost worthless. In the last ten years, the home health care industry has really come of age, and this seems to be a better alternative. Your opinion please. Or whom else can I contact? Thank You.

This is hard to answer as there is no perfect answer, so for what it is a worth, here are some thoughts -- regardless of the current carrier.

There are state insurance guaranty funds in all states (somewhat similar to the FDIC) if solvency is a concern.

If it is concern that the company won't properly pay a legitimate claim, given the duration of the policy and knowledge that they're in or would be in a spotlight -- especially under President Obama's administration -- makes it less likely; if that happens contact us.

If it is a concern that they will increase rates at some point, I'm sure they and other companies will.

If there is a better alternative by all means consider it. Yet I personally don't see a major benefit to switching given that your current premium should be significantly lower than that of other polices providing the same level of benefits you can buy now, many years later. And if you change carriers you'd be starting a new "incontestability period" meaning a new carrier possibly would be able to claim that you made a misstatement on the new application.