The Long Term Care (LTC) Blog
Where Will The Workers Come From (and What Will The Price Be?)
Long Term Care is getting more and more expensive every year. LTC insurance is getting more and more expensive each year as well, it’s a direct correlation. This morning’s Green Bay Press Gazette had a guest commentary about boomers becoming part of the labor solution. The article stated that in less than 30 years, the…
Read MoreHelp! My LTC Insurance Premium Is Going Up
Inflation, you can’t live with it, and economists say we can’t live without it. But when you get a letter telling you that the cost of something you are paying for is going up, it’s not a pleasant experience. There are several things you can do to mitigate a price increase on your LTC insurance…
Read MoreIs It Too Late To Get Long Term Care Insurance?
For many it is too late. By 60 years old, approximately 25% of us are not healthy enough to be accepted for this insurance. It gets more expensive the longer you wait as well. For each year you wait in your fifties, you will pay 3% to 4% more, while in your sixties, waiting a…
Read MoreCaregivers Trials and Tribulations
The New York Times recently reported that caregiving is set to become the number one profession in the USA by the year 2020, overtaking retail. This tells us there are a tremendous number of people caring for an individual needing long-term-care (LTC) services. Whether they are working as a professional caregiver, or are caring for…
Read MoreQualifying To Purchase LTC Insurance Is Becoming Much More Difficult
Years ago the Long Term Care (LTC) insurance industry went through an education process which some say is continuing today. The industry learned that blood pressure and cholesterol led to death, not disablement, and thus insurers are not too concerned about those conditions. Cancer was not seen as a concern since once you needed assistance…
Read MoreIs Something Really Better Than Nothing?
Recently, I have had a few conversations with agents about clients who have purchased the life/long term care products. Now, it’s no secret that I am skeptical about the benefit of these products for clients (which I’ll explain later). When I share my concerns with the agents, I invariably get the response, “Well, something is…
Read More5 Retirement Income Risks
Are you aware that 80% of mountain-climbing accidents happen on the way down, not the way up? Reaching the peak is a thrill for climbers, but the second half of that journey, getting down safely, presents the greatest risk and requires the most planning. If you have saved and invested well and reached the peak,…
Read MoreMedicaid LTC Is Very Costly For States
Among people eligible for Medicaid but not Medicare, long-term care residents are most likely to be among the costliest beneficiaries for a state, according to a new report from the Government Accountability Office. Senator Charles Grassley (R-IA) requested the report, noting that much research has focused on those eligible for both Medicaid and Medicare, but…
Read MoreNumber Of Families Providing LTC Increasing Dramatically
More than 8 million people (mostly women over 65) used the services of a LTC provider in 2012, according to the first ever compilation of federal data on the subject by the National Center for Health Statistics. This includes adult day care, home health care providers, assisted living facilities and nursing homes. However, the lion’s…
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