Long Term Care
Alternatives to a straight long term care policy
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Are you shopping for a long term care policy? Buying a standalone long term care policy can be expensive and while you hope you don’t need it, it’s very expensive insurance that clients often see as money wasted when it isn’t used.Â
Long term care insurance options
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If you don’t buy long term care insurance you have two choices: self-insure or spend down most if not all of your assets so that you can qualify for Medicaid. At least that’s what the choices have been but there are at least three other options.Â
Women will see higher long term care premiums than men
Genworth Financial, the country’s largest supplier of Long Term Care policies has announced that they will begin charging women higher premiums than men for the same coverage starting next year.Â
New commission will study long-term care
Part of the American Taxpayer Relief Act of 2012 that was signed into law Jan.2 repealed the CLASS Act and replaced it by creating a Commission on Long-Term Care.Â
Genetic testing opens up the possibility for long-term care insurance discrimination
A couple weeks ago on the AgingOptions Radio show Rajiv and Jerry talked about whether or not it would be a good idea to get a test done to see if you had the genes for dementia or some other disease.Â
The price of long-term care policies will rise steeply for women
The average life expectancy of an American woman is 80.8 years, while American men live only 75.6 years on average. In fact, pretty much wherever you live in the world, no matter how short your life expectancy is, if you’re a woman, you’re going to live on average at least a couple months longer than … Read more
Long Term Care Insurance garners attention
The National Association of Insurance Commissioners has come up with model legislation on long term care insurance for the states due in part to the reputation companies have of being difficult to deal with. The high cost of long term care insurance and the many hurdles consumers have to jump through make long term care … Read more
Should you buy Long Term Care Insurance?
You might be thinking “Long-term care insurance is complicated, costly and unnecessary. I’m healthy! I have family who will care for me, and I refuse to go into a nursing home, anyway. Medicare and Medicaid will cover care once I need it — why waste money on insurance?” The odds that you’ll need long-term care … Read more
Planned National Long-Term Care Insurance Program in Critical Condition
The Obama administration may be on the brink of scuttling a new national long-term care insurance program that was part of the health reform law. The Community Living Assistance Services and Supports (CLASS) Act, Sen. Edward M. Kennedy’s final legislative legacy, would create a modest, voluntary insurance program aimed at helping to keep the elderly and disabled … Read more