While Congress, in an election year, has been gingerly discussing the costs and credits of federal medical insurance for the nation's aged, an insurance company has been quietly testing whether a private firm could make money in the same field. After month-long trial studies, Chicago's Continental Casualty Co. (1959 assets: $469,465,000) last week announced a hospital insurance devised for oldsters 65 and above that offers up to $5,000 coverage without a physical examination or health questions.
Continental, which is seeking the approval of insurance commissions in every state, and Puerto Rico besides, already has received 35 O.K.s. For a $7...
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