Beware this Long Term Care Insurance Advice..
June 25, 2006
Today I read an article about long term care insurance that was picked up by the Associated Press, then re-printed on the website newsday.com. The title was “Evaluate Long-Term Care Insurance”.
It didn’t give the author’s name, but I’d like to know it, because this person gives very bad advice. The article states that you should not buy LTCi in your 40’s because there is no guarantee that rates won’t go up.
It also quotes Consumer Reports, Consumer Reports recommends buying coverage at ages 55 and 60 only if you have a chronic condition like diabetes. If you’re healthy, start assessing your needs at age 60 and purchase it by age 65. I’ve seen this repeated elsewhere on the internet and it is dead wrong on some very important issues…
Two Sides to Caregiving..
June 19, 2006
As with everything in this crazy world of duality, there are two sides to caregiving.
Planning for Long Term Care is Best Done Early..
June 19, 2006
…countless Americans face dilemmas on how to prepare for the day they need help getting by. The choices can be daunting, and expensive, for long-term care insurance, nursing homes or assisted-living facilities. [Read more]
Governors Pushing Tax Credits for Owners of Long Term Care Insurance.
June 17, 2006
The National Governors Association urged the adoption of a $2,000 tax credit and $200 deduction to encourage individuals to buy long-term-care insurance, saying reforms are needed within and outside of Medicaid to control the program’s soaring costs for caring for the elderly… [Read more]
Study Reveals: Southerners are Prime Caregivers for Elderly Loved Ones.
June 16, 2006
ATLANTA - Southern hospitality, it seems, extends to the elderly: A higher percentage of Southerners care for the old and ailing than do people in other parts of the country, according to a new study. [Read more]
Bracing for the Wave of Aging Boomers.
June 15, 2006
Planners liken the coming age wave, minus a workable plan, to Hurricane Katrina. Why? [Read more]
Nellie and John.
June 13, 2006
Nellie Alford faced an agonizing decision last fall.
The 81-year-old Snellville woman’s 84-year-old husband, John, had been diagnosed with dementia, and her doctors told her his needs were too great for her to continue taking care of him at home.
As if deciding whether to place her husband of 43 years into a long-term care facility wasn’t a gut-wrenching enough decision emotionally, finances also played into it.
Long-Term Care Protection can be Tough Decision.
June 12, 2006
We’ve all heard horror stories about elderly people who can’t take care of themselves having to move into costly nursing homes and “outliving their money.”
As Americans live longer, more and more of us will need some sort of long-term care, and the insurance industry has a blizzard of policies to help pay for it.
Today, the cost of nursing home care averages about $71,000 a year nationwide, and the average patient stays for 2.4 years — for a total cost of about $170,400, according the AARP.
Consumers: Better Informed about Long Term Care Insurance.
June 12, 2006
National Underwriter Informal Poll On Consumer LTC Knowledge
Nationalunderwriter.com conducted an informal poll with readers of their newsletter and website. This poll asked the following question: In general, consumers are more informed about long term care insurance (LTC) than they were five years ago?
The Looming Problem of Long-Term Care and Medicaid Spending.
June 11, 2006
In 2008, the oldest of the baby boomers will turn 62, become eligible for Social Security benefits, and begin to retire en masse. As the retired population swells, so will the number of seniors living in nursing homes and other long-term care facilities.
