The Long Term Care industry pays out $3.5B in claim payments. The new LTC insurance claims data is designed to help consumers to plan ahead. Some 180,000 Americans with long-term care insurance policies were paid benefits in 2007, according to a just-conducted study released by the American Association for Long-Term Care Insurance (www.AALTCI.org). This is [...]
Planning for long-term care requires financial savvy when choosing long term care insurance coverage, writes Bills.com. Americans are living longer than ever before, reaching a new life expectancy of more than 78 years and making long-term care insurance a valuable investment, especially for those who heed Bills.com president Ethan Ewing’s seven things to know before [...]
Although it is optional, every state provides a long-term care benefit through its Medicaid program–and not just to the poor. Medicaid is paying for the long-term care of a growing number of middle-income seniors, and this is one of the fastest-growing areas of state spending. At the time they retire, most seniors do not meet [...]
Social Security Statement, unread by many people, recommends private Long Term Care Insurance (LTC). The statement says “Medicare does not pay for long term care, so you may want to consider options for private insurance.” Medicare is not long term care insurance. “Many Americans assume that Medicare will cover their long-term care expenses,” says Cameron [...]
If you’ve put off getting long term care insurance, should you put it off a bit longer, anticipating the new administration’s health plan? “I wouldn’t advise it,” says Denise Gott, Chairman of the Board of LTC Financial Partners LLC (LTCFP), one of the nation’s most experienced long term care insurance agencies. “Long term care has [...]
Long term care insurance is one of the less popular insurance policies. Its lack in popularity is not really because of its unimportance but largely due to ignorance and general misconceptions. The consequences of these are usually grave. Because of this I think it will be a wise move if we took some space off [...]
Benefits of long term care insurance Now that the Deficit Reduction Act has been in existence for over a year, most states have enacted regulations or laws that define the extended waiting period for long-term care benefits paid by the State. Regardless of the value or intention of gifts, in many cases, a five-year waiting [...]
Seekers of long term care insurance need to make three key decisions: (1) whether the insurance is right for them in the first place, (2) what company they should buy it from, and (3) what specific policy best fits their needs. "When most people make these decisions, they go about it all wrong," says Cameron [...]
More than three dozen House members on Aug. 2 sent a letter to the Social Security Administration asking the agency to clarify that Medicare does not cover long-term care, CQ HealthBeat reports. The bipartisan letter urges SSA Commissioner Michael Astrue to include in Social Security statements sent annually to 143 million U.S. residents the sentence: [...]
A bipartisan group of House members last week introduced a bill (HR 3363) that would allow flexible spending accounts to include long-term care insurance, CQ HealthBeatreports. The legislation — sponsored by Rep. Earl Pomeroy (D-N.D.) andco-sponsored by Reps. Jim Ramstad (R-Minn.), Allyson Schwartz (D-Pa.)and Kenny Hulshof (R-Mo.) — would allow employees to pay for long-termcare [...]
