Women Will Pay More – Much More!

Mar 25, 2013

80% of the people in nursing facilities are female. Women often take care of their husbands, and then nobody is left to care for them, thus they end up in facilities. With women being the main users of LTC facilities, the LTC insurance companies are going to gender specific rates this year. Who do you…

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Alzheimer’s in Now the 6th Leading Cause of Death in America

Mar 20, 2013

Per the Alzheimer’s Association, Alzheimer’s Disease is the 6th leading cause of death in America. The rate of deaths due to Alzheimers rose 68% between 2000 and 2010. This is due in large part to longevity increases and better diagnosis. One in three seniors now dies while suffering from Alzheimers or another form of dementia.…

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HELP! The premium just increased for my LTC insurance

Mar 13, 2013

Have you recently received a letter announcing a price increase on your LTC insurance? It probably offered to mitigate that price increase if you would just lower the daily (or monthly) amount the policy pays when you need care. Or perhaps it offered another option of lowering the rate at which your policy keeps up…

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What is your retirement plan missing?

Mar 13, 2013

“The second most important financial priority, especially among older respondents, is saving money to pay health-care costs” from a recent article. This is not surprising, considering that 70% of those surveyed said they expect their medical expenses to increase during retirement. A smaller but not insignificant number of respondents listed a related concern – long…

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Irrevocable Burial Trusts for Family Members Not a Divestment Court Rules

Jan 31, 2013

In a Fond Du Lac courtroom on January 18th, 2013 the court ruled that a person funding irrevocable burial trusts for children and spouses of children is not a divestment for Medicaid purposes. For years insurance agents have used irrevocable burial trusts instead of final expense life insurance policies as the trusts are outside the…

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Why is the Partnership Program Kept Secret in Wisconsin?

Jan 24, 2013

Wisconsin, and most other states, have a program with an incentive to encourage purchase of LTC insurance. It is a form of bribery, actually, and here is how it works: You purchase a Partnership LTC insurance policy. It must have inflation on the benefit amount to qualify (actually, buying this insurance without inflation is like…

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The “Fiscal Cliff” and Long Term Care

Jan 3, 2013

The “Fiscal Cliff” legislation everyone has been talking about that passed in the dead of night has some changes for LTC in America. Initially the PPACA health care bill had a provision to start a Federal LTC insurance program. However, it was completely unsustainable as it would accept everyone, healthy or not, and would be…

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Why Do People Buy LTC Insurance?

Dec 13, 2012

Many insurance agents believe it’s to protect assets and to leave an estate to heirs. However, that reason is given by only one third of the people actually purchasing this coverage. Other, possibly more important reasons are, the desire to avoid dependence on others and to protect their living standards. The US Department of Health…

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Anti-Nursing Home Insurance?

Dec 4, 2012

Why is it called “Anti-Nursing Home Insurance?” Because having it gives you a really good chance of never seeing the inside of a nursing home. If you can pay for home care and/or assisted living type facilities, you may be among the 85% of those needing Long Term Care who never enter a nursing home.…

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