SHIP insurance lawsuit filed by ND insurance commissioner moving forward
BISMARCK, N.D. (KFYR) - A lawsuit filed by North Dakota’s insurance commissioner is going to court. The long-term care insurance company Senior Health Insurance Company of Pennsylvania (SHIP) tried to hike insurance rates significantly for about 370 North Dakotans in 2020.
In North Dakota, insurance rate hikes, like the one SHIP attempted, must be approved by the insurance commissioner. SHIP did not get theirs approved, so North Dakota Insurance Commissioner Jon Godfread filed a lawsuit against them in 2022. SHIP tried to get the case dismissed, but a North Dakota judge denied the move.
“A lot of these folks are in their 70s, 80s and 90s, about to go on claim or about to enter that assisted living home. And now is not the time to face that 150%, 200%, 300% rate increase,” said Godfread.
Iowa, Louisiana and South Carolina have filed similar lawsuits against SHIP. Godfread said it’s likely more states will follow.
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