Long-Term Care Insurance-An Unbiased Opinion

It's never too early to look into Long-Term Care Financing and Planning. You may not like the prospect of ever needing any assistance with your simple daily activities. Needing assistance does also not mean the end of a productive life. Many older adults that receive assistance with the activities of daily living may still enjoy many activities like playing bridge, book clubs, spending time with their families just to name a few.

Long-Term Care insurance can provide for in-home care, assisted living and nursing home care. Having a plan in place is the equivalent of planning for your next vacation. Don't you want to be the one to make the decision of how and where you will receive your care when the time comes?

It is important not to "stick your head in the sand" when it comes to planning for long-term care. It is a responsible thing to do for you and for your family.

You need to investigate the insurance company carefully before buying a long-term care policy. You should consult with a Long-Term Care insurance Specialist, one with additional education and training in Long-Term Care Planning. An independent agent can compare multiple carriers without being bias toward any one company.

For additional education and a good online source Visit: LongTermCareInsurancePros

Long-Term Care...It's a Women's Issue!

The Women’s Institute for Financial Education gives a good overview of why long term care is a crucial financial and emotional issue for women;

Women, especially, bear the brunt of these care costs. Because women live longer than men, they require lengthier care as they age, and because women often assume responsibility for their family’s health and welfare, the task of caring for elderly parents, an ill spouse, or disabled brothers and sisters usually falls to us. With long-term care insurance, you can get the assistance you need and your loved ones deserve.

Longevity and social expectations tend to shift the burden of care as well as the need for care to women. Because of this, insurance for long term care an important issue to consider in the financial planning and protection. Remember that planning for long-term medical care is just another part of a continuous lifelong financial plan. An Long-Term Care insurance specialist can assist you in exploring whether Long Term Care insurance is appropriate for you and your family.

Long-Term Care Insurance-Helps Supplement Retirement Savings

With the collapse of the stock market, the once healthy nest eggs have left baby boomers and many retirees unable to pay for long-term care costs. It may take years to recoup the losses to their stock portfolio. The average cost for a year’s stay in a nursing home is $77,000.00. Older investors may now be short of funds for costly long-term medical care if their health fails.

Many retirees and workers nearing retirement have counted on retirement savings to effectively self insure against health-care expenses that are not covered by Medicare, such as at-home care, assisted-living and nursing home facilities.

This is a good time to take a first or second look at long-term care insurance. When looking into long-term care insurance, it is important to consult with a long-term care specialist. An independent agent who represents the top carriers will show no bias toward one company or another.

Many retirees and workers nearing retirement have counted on retirement savings to effectively self insure against health-care expenses that are not covered by Medicare, such as at-home care, assisted-living and nursing home facilities.

It important to purchase long-term care insurance when you are young and in reasonably good health. Most people are not aware of the health underwriting that goes along with applying for this insurance. This has to be part of your retirement planning. This is insurance that will not be utilized for 20-30 years from the time you first purchased it.

There are many factors that need to be considered before applying for long-term care insurance. In most cases, if you are in reasonable good health you can expect to be approved for long-term care insurance. Some of the most common reasons why a person could be declined for long-term care insurance include health conditions such as: multiple sclerosis, Parkinson’s disease, AIDS, ALS (Lou Gehrig’s disease), Alzheimer’s or dementia, muscular dystrophy and certain aggressive and metastatic cancers.

A knowledgeable long-term care specialist will be honest in assessing your candidacy for long-term care insurance with regard to your individual health condition. He/she will know the differences between the carriers. What one carrier may allow, another carrier will automatically decline.

It important to consider that your health rating buys long-term care insurance, but your money pays for it. Without good health, you may not be able to get long-term care insurance at any price.

For more articles and resources, Visit LongTermCareInsurancePros

Long-Term Care Insurance-Helps Supplement Retirement Savings

With the collapse of the stock market, the once healthy nest eggs have left baby boomers and many retirees unable to pay for long-term care costs. It may take years to recoup the losses to their stock portfolio. The average cost for a year’s stay in a nursing home is $77,000.00. Older investors may now be short of funds for costly long-term medical care if their health fails.
Many retirees and workers nearing retirement have counted on retirement savings to effectively self insure against health-care expenses that are not covered by Medicare, such as at-home care, assisted-living and nursing home facilities.
This is a good time to take a first or second look at long-term care insurance. When looking into long-term care insurance, it is important to consult with a long-term care specialist. An independent agent who represents the top carriers will show no bias toward one company or another.
Many retirees and workers nearing retirement have counted on retirement savings to effectively self insure against health-care expenses that are not covered by Medicare, such as at-home care, assisted-living and nursing home facilities.
It important to purchase long-term care insurance when you are young and in reasonably good health. Most people are not aware of the health underwriting that goes along with applying for this insurance. This has to be part of your retirement planning. This is insurance that will not be utilized for 20-30 years from the time you first purchased it.
There are many factors that need to be considered before applying for long-term care insurance. In most cases, if you are in reasonable good health you can expect to be approved for long-term care insurance. Some of the most common reasons why a person could be declined for long-term care insurance include health conditions such as: multiple sclerosis, Parkinson’s disease, AIDS, ALS (Lou Gehrig’s disease), Alzheimer’s or dementia, muscular dystrophy and certain aggressive and metastatic cancers.
A knowledgeable long-term care specialist will be honest in assessing your candidacy for long-term care insurance with regard to your individual health condition. He/she will know the differences between the carriers. What one carrier may allow, another carrier will automatically decline.
It important to consider that your health rating buys long-term care insurance, but your money pays for it. Without good health, you may not be able to get long-term care insurance at any price.
For more articles and resources, Visit LongTermCareInsurancePros

Long-term Care is a Real Risk. November is the Time to Plan

November has been declared Long-Term Care Awareness Month because even the U.S. Congress recognizes the importance of making people aware of the risks and costs associated with long-term care.

Even though the risk is real, most people avoid thinking about long-term care until it is too late. So, I am sending you this E-mail to share three important facts. And, I hope you'll use this occasion to consider your options and contact me for more information.

FACT #1. Most long-term care is received at home; not in a nursing home. In fact, 43% of long-term care insurance claim benefits paid to individuals covered home care (and only 24% paid for nursing home care.) *

FACT #2. One of the significant ways to save on long-term care insurance protection is to take advantage of available discounts. People in good health can save. You can lock in these savings even when your health changes. Less than half (44%) of people between 50 and 59 qualify though and that percentage declines at older ages. Why not see if you qualify.

FACT #3. Married couples and partners can save on long-term care insurance, sometimes even when only one person is protected. And with new "shared care" options, two people can actually share each other's coverage. Less money … more benefit … worth considering. November is

Long-Term Care Awareness Month and it's the perfect time to find out what protection costs and which discounts and savings you qualify for.

Visit LongTermCareInsurancePros for a great online source for long-term care planning and insurance.

Request a Free, No Obligation Quote Today!

Medicare Open Enrollment-2009

Saturday, November 15th is the first day that people 65 and older can choose a Medicare prescription drug plan for next year and experts warn seniors against automatically re-enrolling in the plan they have now without considering other options. It is important to look at the different drug plans according to what prescription drugs you are taking.

Some plans may or may not have the prescription you need while another plan does. Many of the dozens of competing drug plans have increased their prices and changed their offerings. It is also important to consider what the co-payments are, if your local pharmacy accepts the plan and whether or not there is coverage during the “donut hole” or “gap.”

The gap, or ‘doughnut hole,” refers to what happens when the total drug costs paid by the patient and the health insurance company rise above $2700. After that point, the patient is responsible for pay everything until costs reach $4350, when catastrophic coverage starts. Some plans pay for generic drugs during this “gap.”

November 15th through December 31st, 2008 is also open enrollment for Medicare Supplement or Advantage plans. This is also the time that you can switch to a different plan without any problems. The costs of the plans vary from carrier to carrier. New coverage and costs begin January 1, 2009. It is recommended that you do your homework with the help of an independent agent, one who represents many carriers. It is also important to check with your Doctors to see if they accept Medicare.

Medigap policies can be sold in only 12 standardized plans, "A" through "L". In other words, the benefits covered by Medigap Plan A are the same regardless of which health insurance carrier is offering Plan A. However, health insurance carriers may charge different prices for the same Medigap plan. Here is a good place for comparative quotes for Medicare

Long-Term Care Insurance IRS Deductibility Limits for 2009

The IRS allows qualified Long-Term Care insurance premiums to be deducted with some limits. Those limits for 2009 have been established in this article which has a good explanation of what those limitations are as well as what qualifies as a tax deductible policy.

As in all tax matters it is best to consult with your tax professional for advice on how much Long-Term Care insurance premiums can be deducted in your individual situation.

Simplify Your Long-Term Care Financing and Planning with a Long-Term Care Specialist!

A qualified Long-Term Care Specialist can help you determine the best policy for you.

Long-Term Care Insurance- 2009 Tax Deductions

2009 Tax Deductions For Long-Term Care Insurance
The Internal Revenue Service has announced the maximum tax deduction that can be taken on qualified LTCi premiums in 2009.
Maximum Deduction for Qualified LTCi Premiums Under Code 213(d)(10)
Attained Age Before Close of Year 2009:

• 40 or less - $320
• More than 40 but no more than 50 - $600
• More than 50 but no more than 60 - $1,190
• More than 60 but no more than 70 - $3,180
• More than 70 - $3,980
  

Of course, these deductions are not available to everyone who owns Long-Term Care insurance. Those who are self-employed, owners of an LLC, or incorporated, will be able to get the most benefit from this schedule. I would happy to explain who benefits most from these deductions for anyone who inquires.
As in all tax matters it is best to consult your tax professional for clear advice on how much Long Term Care insurance premiums can be deducted in your individual situation though.

Plan for Health Care Costs in Retirement

It is expected that a married couple at age 65 in 2008, without employer-based retiree health benefits, will need $194,000 in savings to have a 50% chance of having enough money to cover Medigap premiums, Medicare Part B premiums, Medicare Part D premiums and median out-of pocket prescription drug expenses throughout retirement.

To have a 75% chance of having enough money to cover these expenses they would need $253,0000, and to have a 90% chance they would need $305,000.

If out-of-pocket drug costs are higher, the savings needed would increase. These savings to not include what might be needed for any long-term care expenses.

These findings were from the Employee Benefit Research Institute (EBRI).

Long-term care planning is essential to make sure there is money set aside or readily available when needed for your long-term care needs. Long-Term care insurance assure you that the money will be there when it is needed.

For free resources, information or a quote visit Long Term Care Insurance Pros

Long-Term Care Insurance Offers Safeguards during a Financial Crisis

We are facing some turbulent times in the housing and financial markets. During these times, monies that may have allocated for any unforeseen expense just may not be there. The chances of needing some kind of long-term care in the future doesn't disappear during a financial crisis.

The chances are real, but now is the time to put a long-term care plan together.
An often over-looked protected spot for some of your money is long-term care insurance. You are asking Why?

Well, long-term care insurance is one of the safest, most prudent financial decisions you can make right now. I am confident that our financial and housing crisis will turn around, but it may take a year or five years for things to get back to where they were before the crisis. The big question of WHY is what if you needed long-term care tomorrow? Where would you get the money? Would you have to liquidate a home with fallen values or sell stock or mutual funds that are down 30%.

Long-term care insurance is an inexpensive hedge against the chance of needing long-term care in the future. If you are healthy, this is the best time to start your planning.

For the best online source for resources, articles and information on long-term care planning and insurance, visit LongTermCareInsurancePros

Want a Quote?

Long-Term Care Costs Could Grow to the Trillions

In today’s economic environment, we almost become numb to the mind boggling numbers of billions and trillions of debt that the U.S.in is. As individuals, however, we have seen our retirement savings reduced at a time that retirement or a redirection of ours lives seem so close.
AHIP just released the following:

State Medicaid programs could spend $1.6 trillion on long term care expenses throughout the next 20 years.

According to a report by America's Health Insurance Plans (AHIP), when federal matching funds are included, total government spending on long term care will exceed $3.7 trillion. In fact, AHIP predicts that Medicaid long term care spending will grow at a faster rate than overall health care spending, faster than Medicare and faster than the national gross domestic product.

If existing trends go on, annual Medicaid long term care expenditures could grow by 124 percent between 2008 and 2027, to $116 billion, from about $51 billion, AHIP says.

Finally, AHIP President Karen Ignani says the report shows the nation needs to improve its preparation for long term care costs and find better ways to improve recipients' access to home and community-based care. She says, "Many Americans underestimate their risk of needing long term care and many erroneously believe they have long term care coverage."

Simplify Your Long-Term Care Financing and Planning with A Long-Term Care Specialist

For your online source of information on Long-Term Care Financing and Planning, Visit: LongTermCareInsurancePros

Long-Term Care Insurance and the Current Market Turmoil

Over the past few weeks we have experienced the most turbulent markets that many of us have ever experienced. As we are uncertain about the future and planning for retirement, we have our focus on the market and every move it makes. This market has affected everyone in America.

We are not getting any younger and the costs for long-term care are skyrocketing. Again, this is something we can’t control even with eating right and exercising. Inevitably, we will age and at some time need help.

As a Long-Term Care Financing and Planning specialist, I believe it is important to say focused on the things we can control. I have not lost the objective of providing Long-Term Care insurance coverage to families who will need it to protect their assets and maintain their independence in the future.

What we can control is where to place your Long-Term Care business and your trust. As an independent specialist, I have the choice of placing business with the top carriers in the Long-Term care industry.

One of these carriers is John Hancock. A recent letter from Marianne Harrison, President of John Hancock Long-Term Care Insurance stated, “I would like you to know that John Hancock, together with its parent company, Manulife Financial, is one of the institutions least affected by the financial crisis and hence, we remain one of the most financially secure insurance companies in the world.” “Our LTC insurance business, with more than $9.2 billion in long-term care insurance claims reserves, is back by the financial strength and stability of our parent company, Manulife Financial, say Harrison.

Long-Term Care insurance is the protection your family needs to cover the expense of in-home care, assisted living or nursing home care. Today you may feel that you will never need help, but if you wait, it will not only cost a lot more, but there is a good chance you may not be able to purchase it at any cost.

If you have any questions, please feel free to contact me: Dane Petchul at LongTermCareInsurancePros or call me at 949-854-3001.

A Sad Decision Made Regarding Eligibility for Long-Term Care Insurance

A few months ago, I was contacted by a couple who were interesting in getting the information on Long-Term Care planning and insurance. At the time we spoke, they had a lot going on in their lives (finishing a bathroom remodel). They felt they didn't have the focus at that particular time.

At their request, they wanted to get together in a few months. My follow-up call approximately six months later was very sad and disappointing to both my potential clients and myself. During this time, the husband (51years old) while having a routine physical was diagnosed with early onset of Alzheimer's.

I like to come into people's lives before a long-term care event occurs. After the fact, there is nothing I can do to help with the expense that this long-term care event will incur over this gentleman's lifetime.

It's true that long-term care insurance is less expensive when you are younger and in good health. It is also true that you may not qualify at any price if your health is failing.

We all are healthier today than we will be tomorrow. Yes, even with going to the gym and eating right. With those good habits, we will all live longer with a better lifestyle, but at some time living longer means we will eventually need some kind of long-term care.

Start your planning early enough so that you can make the decision if long-term care insurance is right for you. Do not let the companies make that decision for you.

A great source to start your education in Long-Term Care Planning and insurance is at LongTermCareInsurancePros

Long-Term Care Insurance Keeps Up in Troubled Times

We are all trying to keep up in troubled times, Prices of just about everything seem to be going up, house values are down and everyone is aware of the financial crisis our economy is in.

Consumers are taking a closer look at spending habits and making the most of their earnings and savings. Some seniors may have an easier time living more frugally than younger generations.

In these belt-tightening times, it may be tempting to drop the "extras" to save money. Some items (like your insurance) should not be considered "extras."

It is important to remember, life's risks do not go away...meaning while it's important to watch what you spend, insurance protection is an area where you don't want to cut corners. The chances of getting cancer, having a heart attack or needing long-term care do not go away just because the economy has troubles.

During these tough economic times, the protection your insurance provides is even greater.
Any Questions? Or give me a call at 949-854-3001.

A Long-Term Care Specialist can answer any of your questions or concerns.

Long-Term Care Insurance-Where is it When You Need it?

I cannot tell you how often I get a call from a distraught husband, wife, life partner , children or nieces or nephews of people they love. The call usually goes something like this.

• “My wife has been having trouble managing the household chores, shopping, etc. and just staying organized.”
• “My husband just came back from the Doctor’s office and was diagnosed with early stages of Alzheimer’s. “
• “ I think my mother is ready for a nursing home, she just can’t stay alone anymore.”
• “My uncle needs some assistance, I think an assisted living facility would be the right choice for him.”

The next question is always “I would like to learn about and purchase Long-Term Care Insurance for _______________.”

I am always sad to advise the client that long-term care insurance is not available to their loved ones in the above situations. It’s the equivalent of calling your local insurance agent as you are running out the door when your house is burning down.

Where is the insurance when you need it?

I guess that’s what insurance is. According to the English dictionary, insurance is summed up by these definitions.
1. Insurance: Legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits, or property damage. Insurance provides a means for individuals and societies to cope with some of the risks faced in everyday life.

2. Financial Protection against loss or harm: an arrangement by which a company gives customers financial protection against loss or harm such as theft or illness in return for payment premium

3. Money paid by an insurance company: The sum of money that an insurance company pays or agrees to pay if a specific undesirable event occurs.

4. Means of Protection: An act, measure, or provision that gives protection against an undesirable event or risk

Why do we have insurance?

In life, losses are sometimes unavoidable. People may become ill and lose income or savings to pay off medical bills. Individuals or their relatives may die of illness or accidents. People’s homes or other property may suffer damage or theft. People also may accidentally cause injury to others or damage to the property of others.

No one knows in advance when a loss will occur or how serious that loss will be. The uncertainty surrounding potential losses is known as risk. Insurance offers a way for people to replace risk with known costs—the costs of buying and maintaining insurance policies.

Long-Term Care insurance is available with substantial health discounts so it is important to obtain this type of coverage when you are still in good health.

According to the American Association for Long-Term Care (AALTCI) the following is the percentage of Long-Term Care Insurance applicants who qualify for good health discounts or are declined coverage.
Percentage of Long-Term Care Insurance Applicants Who Qualify For Good Health Discounts

Age 40 to 49 --- 63.2%
Age 50 to 59 --- 51.5%
Age 60 to 69 --- 42.2%

Percentage of Applicants Declined Coverage (Individual Policies)
Age 50 to 59 --- 13.9%
Age 60 to 69 --- 22.9%

A good place to start getting information is talking to a Long-Term Care Specialist who represents multiple long-term care insurers. The costs vary and acceptable health conditions vary among the top carriers.

Long-Term Care Insurance Online Competitive Quotes

One of the great ways to get best deals on long term care insurance and home health care is to get and compare quotes online from an independent Long-Term Care Specialist. An independent specialist can give you multiple quotes from all the top carriers. The carriers differ in what they offer in terms of benefits and additional options. A specialist will get the quotes to be as close to an "apples to apples" comparison.

As a matter of fact, getting your LongTermCareInsurancePros quotes online automatically gives you savings. This is because you are actually helping insurance companies to lower their cost in getting new clients by getting you online.

Doing business over the Internet is reducing driving to and from your agents office. It is a win-win for everyone. It is convenient to conduct business from the comfort of your home.

LongTermCareInsurancePros has a special screen sharing program where you can log into the specialists computer and and interact in creating the best long-term care insurance policy for you and your family. You can even see side by side comparison from the different companies.

For more information and articles on Long-Term Care Planning and insurance you can visit LongTermCareInsurancePros

Long-Term Care Insurance Covered by Time Magazine

A recent article in the September 15, 2008 of Time Magazine discusses the benefits of buying Long-Term Care Insurance at younger ages.

According to the article, more than half of folks in their 50s qualify for a good-health discount, and only 14% are denied coverage. But just 42% of those in their 60s get the discount,while 23% are denied coverage.

Consult with an independent Long-Term Care Specialist who can shop around for the best rates and carriers for your situation.

Here is what affects the price of your policy:

• Your Age
• Daily or Monthly Benefit
• Length of coverage
• Waiting period
• Inflation protection

It is recommended that you "lock-in" your long-term care insurance premiums with your good health and take care of this valuable planning as soon and as inexpensively as possible.

You can find articles and more information on Long-Term Care planning or a ask for Free Comparative Side by Side Quote at www.LongTermCareInsurancePros.com

Call me for a free consultation and personalized comparison at -877-GO-4-LTCi (464-5824)

Long-Term Care Insurance-Can A Reverse Mortgage Be Right for You?

Reverse mortgages have been battered in the media recently, but reverse mortgages are often the perfect solution for cash-strapped seniors. The dollars that come in from reverse mortgages can be the difference between paying basic bills such as food and utilities, and even certain medical expenses or not.

Reverse mortgages are designed for people 62 and over. They enable you to have a bank buy back your home while you’re still living in it. You have to pay the money back (plus interest) when you vacate or sell the home, and there are fees involved. Still, these mortgages do have a place, and they're rapidly finding it.

Here's what you need to consider before you (or your parents) commit to a reverse mortgage:

Your age. These mortgages aren't for everyone, but the older you are, the more likely you are to benefit from one. For one, you probably have more equity in your home. But the other reason is this: Banks calculate the payout based on not only the value of your home, but your age and average expected length of life.

Your situation. A reverse mortgage probably isn't for you if you're not planning to stay in your home for a long time, so consider that upfront. Then think about other factors related to both your current and future lifestyle. People get these loans for a variety of reasons. Some do it to finance an active lifestyle in their retirement, others because the home needs to be repaired or updated with health care equipment or to help with the rising costs of health care.

Learn how the loans work. Most reverse mortgages require no repayment as long as you live in your home. The loan must be repaid in full, along with interest, when the last living borrower dies, sells the home or moves away.

Understand the lender’s role. A lender – typically a bank – will provide you with a loan in an amount ranging from 20 percent to 60 percent of your home’s equity. In exchange, the lender will receive a portion of your home’s value when you die or sell the home.

Choose a payment preference. The loan can be paid to you in three ways: as a lump sum, in regular monthly or quarterly installments, or as a line of credit you can tap as needed.

Know your responsibilities. Borrowers are responsible for property taxes, insurance and home repairs. Your loan could become due and payable in full if you fail to meet those responsibilities.

Assess neighborhood real estate prices. Over time, a reverse mortgage whittles away at the home equity you built up over the years. But if you live in an area where home prices have a history of rising, your home’s equity could continue to go up despite your reverse mortgage. It goes without saying, though, that you can never count on such increases to last forever. As evidence, just consider the housing slump and accompanying foreclosure fallout sweeping real estate markets across the United States.

The reverse mortgage can be an excellent financial planning tool for seniors from all walks of life. It can enhance their retirement years by providing some extra income to help provide seniors with a lifestyle of their choice. They can be used as part of their estate or legacy planning.

For more information on long-term care financing and planning, visit LongTermCareInsurancePros. and download a Free Ebook.

What is Your Suitability, Insurability for Long-Term Care Insurance

Prudential Financial newly issued 2008 Long-Term Care Cost of Care research report is a valuable resource for consumers seeking information to help them make informed decisions about their long-term care needs. The study found an increase in the average cost of long-term care ranging from 5 percent to 13 percent, varying by type of service, in the past two years alone.

Prudential's Cost of Care study sheds light on the State-specific average costs associated with nursing homes, assisted living facilities, and home health care services. National average cost of Assisted living facility care is more than $100/day or $3241 per month or about $37,000 per year. the cost of a private room in a nursing home has reached $217/ day or $79,205 annually. Home health care rates have also risen to an average of $21/ hour for an increase of 5-10 percent over the rates two years ago.

The fact is, without proper planning, the annual cost of long-term care can quickly deplete even a sizable nest egg. Many of us do not want to think about 'that time' when we may need care in an assisted living facility, a nursing home, or at home care. It makes good sense that you consider the costs now and implement a financial plan today to help ensure you receive the quality of care you desire.

To determine the suitability of long-term care insurance for your unique situation, the costs of long-term care insurance and your insurability, contact me at 949-854-3001 or email at dane@longtermcareinsurancepros.com

For A Quote

Checklist for Choosing the Best Long-Term Care Facility

Let’s suppose you have properly done all of your long-term care financing and planning. You have either purchased long-term care insurance or have a bundle of money readily accessible to pay for your long-term care needs.

With the right long-term care plan in place, there won’t be the stress and strain of trying to liquidate property or stocks at a time where you may incur losses or pay a hefty tax bill.

With that said, it is now time to look for a long-term care facility. In order to help make an educated decision of which facility is best, here is checklist of questions you should ask yourself when visiting the facilities. The checklist is broken down into different areas of importance regarding the facility and its amenities.

For the complete checklist Visit The Best Questions to Ask

For more inforamtion on Long-Term Care planning and Long-Term Care insurance, consult with a Long-Term Care Specialist (LTCP, CLTC).

Long-Term Care Insurance-Helps You Plan for Your Future

Long-term care insurance is a necessary part of responsible planning for your future. Most people spend their lives planning for the best quality of life. Quality of life is different for everyone. One may want to sit on the beach while others would rather play tennis or golf.

We work hard to provide for the best quality of life while we are young and physically active. When it comes time to think about planning for our future when we may or may not be as physically active something amazing happens. The planning usually stops and goes into coasting mode.

Coasting? What does that mean? It means that most people go into denial and just plain do not want to think about planning for a time when they may need some kind of assistance with their daily activities. The next is that without any education most think that long-term care insurance is just too expensive. Another reason no planning is done is procrastination. It is easy to procrastinate about purchasing long-term care insurance today because you feel great at this moment and so it can wait.According to the Employee Benefit Research Institute (EBRI), it is expected that a married couple at age 65 in 2008 without employer-based retiree health benefits, will need $194,000 in savings to have a 50% chance of having enough money to cover Medigap premiums. Medicare Part B premiums, Medicare Part D premiums and median out-of-pocket prescriptions drug expenses throughout retirement.

To have a 75% chance of having enough money to cover these expenses they would need $253,000, and to have a 90% chance they would need $305,000. If out-of-pocket drug costs are higher, the savings needed would increase. These savings do not include what might be needed for any long-term care expenses.

The expense of a Long-term care insurance policy seems insignificant to what it costs today for long-term care. It is important to understand what long-term care is. It is care that is needed above and beyond the time period that is covered by Medicare or any major medical insurance. It includes intermediate or custodial care (not covered by Medicare) and can be performed in many different settings such as in your own home, adult day care, respite care, assisted living and in a nursing home.

According the Met Life Mature Market survey, the national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The annual premium is more affordable than spending anywhere from $3000-$7000 a month for care. Doesn’t it make sense to pay a premium averaging $900 to $2000 per year now than pay huge amounts later which may jeopardize your family’s lifestyle both financially and emotionally.

The bottom line is America needs to be educated in long-term care financing and planning. The best way is to consult with a Long-Term Care Specialist. A Specialist who has additional education and training (LTCP, CLTC) in long-term care planning as well as being State Partnership certified.

An independent Long-Term Care Specialist shows no bias toward any one company. He knows the language of the policies, knows the different features of the different companies so he can help you compare the different plans. His goal is to educate first and then design (with your help) a plan that fits your budget and situation.

Long-Term Care Insurance-Helps You Plan For Your Future

Long-term care insurance is a necessary part of responsible planning for your future. Most people spend their lives planning for the best quality of life. Quality of life is different for everyone. One may want to sit on the beach while others would rather play tennis or golf. We work hard to provide for the best quality of life while we are young and physically active. When it comes time to think about planning for our future when we may or may not be as physically active something amazing happens. The planning usually stops and goes into coasting mode.

Coasting? What does that mean? It means that most people go into denial and just plain do not want to think about planning for a time when they may need some kind of assistance with their daily activities. The next is that without any education most think that long-term care insurance is just too expensive. Another reason no planning is done is procrastination. It is easy to procrastinate about purchasing long-term care insurance today because you feel great at this moment and so it can wait.

According to the Employee Benefit Research Institute (EBRI), it is expected that a married couple at age 65 in 2008 without employer-based retiree health benefits, will need $194,000 in savings to have a 50% chance of having enough money to cover Medigap premiums. Medicare Part B premiums, Medicare Part D premiums and median out-of-pocket prescriptions drug expenses throughout retirement.

To have a 75% chance of having enough money to cover these expenses they would need $253,000, and to have a 90% chance they would need $305,000. If out-of-pocket drug costs are higher, the savings needed would increase. These savings do not include what might be needed for any long-term care expenses.

The expense of a Long-term care insurance policy seems insignificant to what it costs today for long-term care.

It is important to understand what long-term care is. It is care that is needed above and beyond the time period that is covered by Medicare or any major medical insurance. It includes intermediate or custodial care (not covered by Medicare) and can be performed in many different settings such as in your own home, adult day care, respite care, assisted living and in a nursing home.

According the Met Life Mature Market survey, the national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The annual premium is more affordable than spending anywhere from $3000-$7000 a month for care. Doesn't it make sense to pay a premium averaging $900 to $2000 per year now than pay huge amounts later which may jeopardize your families lifestyle both financially and emotionally.

The bottom line is America needs to be educated in long-term care financing and planning. The best way is to consult with a Long-Term Care Specialist. A Specialist who has additional education and training (LTCP, CLTC) in long-term care planning as well as being State Partnership certified.

An independent Long-Term Care Specialist shows no bias toward any one company. He knows the language of the policies, knows the different features of the different companies so he can help you compare the different plans. His goal is to educate first and then design (with your help) a plan that fits your budget and situation.

You can get Free information and articles regarding Long-Term Care and Long-Term Care insurance at http://www.LongTermCareInsurancePros.com and download a Free Ebook.

Long-Term Care Insurance Instant Quote vs.Expertise of a Long-Term Care Insurance Specialist

Don't waste your time with meaningless quotes that will not give you an "apples to apples" quote. The easiest and fastest way to get the information you want and need about long-term care insurance is to consult directly with a Long-Term Care specialist. Together you can choose the most appropriate policy for you.

There are two reasons that long-term care insurance quotes cannot be automated...

1. Product Complexity- Long-term care insurance coverage is pieced together from many complex options which are best discussed with a licensed independent specialist who knows the laws, companies and policies in your particular state. It not "one size fits all", so generic quotes are basically meaningless.
2. Suitability laws- Unlike other types of insurance, state laws require that a licensed insurance agent determine whether your selected long-term care coverage is uniquely suitable for you. Since long-term care insurance is so complex, these laws have been made to protect you, the consumer, from buying a policy that may not provide the coverage that you want or need.If you have have a long-term care insurance policy, and you question the value of your current policy, then you might want to have it looked over by a Long-Term Care Specialist.

Long Term Care Insurance Pros is an unbiased, independent and experienced specialist dedicated to being absolutely honest.

See for yourself and schedule a consultation.

Guidelines for Shopping and Selecting the Right Long-Term Care Insurance

When selecting a long term care insurance policy or getting a long term care insurance quote, it's important to look for a policy that not only you can afford but also meets your needs. There are many insurance policies covering Long Term Care available today. Policies can vary widely in terms of benefits they'll offer, terms of the contract, and features. Choosing the right long term care insurance policy is not simple.

Using the guidelines found in the article at Long Term Care Insurance Pros and with the expertise of a long-term care insurance specialist, you will have an easier time understanding the nuances of the long-term care insurance policy. It is important to understand the different options available and how they differ from company to company.

There are many more options to consider when evaluating long-term care insurance policies. Long-term care insurance is more complicated than life insurance or health insurance, so it’s best to consult with a Long-Term care insurance specialist. The process is simplified and made easy to understand. It is the best way to design a plan for is suitable for you and your situation.

Long-Term Care Insurance Gives You Peace of mind

Long-term care insurance is purchased for many reasons. In this article I focus on the number one reason you should purchase long-term care insurance. Long-term care insurance puts a plan in place that provides for your loved ones and brings peace of mind at the same time.

Everyone knows a family that has suffered a catastrophe. Long-term care events happen to young working adults as well as active seniors who are just aging as gracefully as possible. The difficulties families face after the catastrophic event are determined by how well they planned.
We all know that advance planning is critical.

So, why do so many people fail to plan for such an occurrence? The key reason why people don't plan is fear and discomfort with facing the prospect of family tragedy especially one in which you are involved. Who wants to discuss your own aging, becoming frail and eventually needing help with the activities of daily living? It is easier not to approach the subject that to picture oneself getting and needing assistance with activities that we take for granted when we are in our youth.

I even hear jokes about what people will do if this does happen to them and then they stick their heads in the sand and pretend everything is fine. The potential consequence of a long-term care event affects you and all the close family and friends around you. Emotions are not rational and instead of suppressing them and procrastinating it is important to deal with them. Once the emotional hurdle is addressed and crossed, long term care insurance brings relief as well as peace of mind.

Here are some tips that may help you make the right decision:

(1) Contact a Long-Term Care Specialist who has the additional education and training in long-term care financing and planning. A consultation with a long-term care specialist will give you the best options for you and your specific situation.

(2) Think about the importance of your own peace of mind. Let yourself appreciate how much better you would feel if you did not have to worry about your family. Let yourself face the fact that your own fate is ultimately out of your control, but that you can control the impact of your demise on others.

(3) Get an application in as early as possible to be able to qualify for the discounts available for good health and marital or partner status. Without an application, you will not know exactly how you qualify for the policy or exactly what the cost is. After you are approved, you have 30 days to accept, change or decline the plan. You may be pleasantly surprised at how affordable long-term care insurance can be.

For more information on Long-Term Care planning and Long-Term Care insurance and before you purchase a long-term care policy, consult a Long-Term Care Specialist. I have found Long Term Care Insurance Pros to simplify this type of planning. Request a Free Ebook on long-term care planning.

Long-Term Care Insurance and What A Long-Term Care Specialist Do For You

A long-term care specialist has his clients’ interest at heart. He/she is an independent agent with no ties to one particular carrier or another. The companies all pay the agents the same. The insurance industry is regulated by the State Department of Insurance. No one agent can sell the same plan with the same benefits for a different price.

So, why seek counsel with a Long-Term care specialist?

1. With the counsel of a Long-Term care specialist, you will be able to research the different companies and their plans. The long-term care specialist helps to simplify this research by making it easier to compare the different plans . Every company has something unique to it which may or may not be a benefit for you and your situation.


2. A long-term care specialist will assess if you have the assets to protect as well as comfortably be able to pay the premiums without sacrifice.

3. A long-term care specialist will help you understand the different benefit options and which ones have value for your particular situation.

4. A long-term care specialist will recommend carriers with the highest financial ratings and lowest customer complaints.

5 . A long-term care specialist will ensure you that you understand the carriers’ definition of the activities of daily living (ADLs).

6. A long-term care specialist keeps up with the changes in the law as well as new products that come into the marketplace.

7. A long-term care specialist has additional training and education (LTCP, CLTC).

8. A long-term care specialist is State Partnership Certified.

9. A long-term care specialist does business with top-rated carriers.

10. A long-term care specialist will help design a plan that is customized for you, your lifestyle and financial situation.

Seek the advice from a Long-Term Care Specialist. You will be provided with online quotes from the top carriers. You receive the counseling from the comfort of your own home or office. LongTermCareInsurancePros simplifies your Long-Term Care Planning.

Request your free Ebook on Long-Term Care Planning.

Long-Term Care Insurance-FAQs

Many questions keep coming up in regards to Long-Term care planning. The questions, however, have different answers for different people.

Long-Term Care planning and insurance are not the same for everyone. Insurance is about understanding risk and how you are prepared to handle the financial and emotional components if and when a long-term care event occurs in your family.

In the long run, it isn’t just about money, but the assurance that there is a plan in place. This plan will lessen the impact on your family when the need for care arises.

The Top Questions:

1. What is Long-Term Care?
2. When is the right time to buy Long-Term Care Insurance?
3. What should the Policy cover?
4. How do you make sure the insurer will be around when you need the coverage?
5. Won’t Medicare pay for Long-Term care?
6. What are the Partnership plans?
7. Can’t I just invest the money?

These questions and more can be answered when you consult with a Long-Term Care Specialist.
Any other questions?

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Simplify Your Long-Term Care Planning with a Long-Term Care Specialist!

A long-term care specialist has additional training and education (LTCP, CLTC) in long-term care planning. The industry is changing constantly with new products coming into the marketplace.

Is There is A Risk to Living Longer- Long-Term Care Insurance Can Help

Financial service professionals help client manage risk, most obviously the risk of death and disability. There is a less understood risk emerging that is going to face the aging baby boomers. This is the risk of longevity and is a threat to even the best-laid financial strategies.

While baby boomers worry about outliving their retirement savings, longevity has other implications as well. The older we get, the more likely we are going to need long-term care. The odds of needing long-term care increase with age, according to a 2007 report by the Health Insurance Association of America. The cost of this care can be staggering.

We are not even talking about just nursing home care. The cost of in-home care can drain retirement savings and change any plans for loved ones. Longevity poses risks and needs a strategy to hedge against this risk.

Medicare does not pay for unskilled nursing care, such as bathing, eating and other daily activities. This is often the kind of care that people need most. This is the type of care that keeps people in their own homes. Individuals need to understand that Medicaid is not the answer. You would first have to meet Medicaid’s guidelines for income and assets in order to have access to Medicaid/ Medi-Cal eligible nursing homes. In addition, Medicaid does not cover in home services.

As we get older, the cost of long-term care insurance increases along with the chance of becoming uninsurable. It is important to understand that long-term care insurance is part of comprehensive strategy that helps with the preservation of retirement income, asset protection, and wealth transfer.

Younger individuals are adding this protection to their retirement portfolio while the premiums are low and their good health enables them to get substantial discounts.

Businesses are losing work hours due to the “Sandwich Generation”. The sandwich generation are the adults caught in the middle of taking care of their own children while beginning to care for their aging parents. Employers bear the cost of long-term care when a worker needs to take time off or resign due to caregiver issues. Employers are beginning to see the benefit of offering long-term care insurance on a voluntary basis. Employers provide access to this valuable benefit often at a discount. This benefit can extend to family members as well.

It is important to pick the right carrier. A lot has been written about long-term care insurance carriers in recent months, not all of it good, particularly in relation to sudden increases in premiums. Choosing the right carrier enables you to have the confidence that the company will be around when it is time for you to receive benefits. It is important to choose a company with strong financial strength.

Now that we are all living longer, we will have to pay for it, but we do not have to exhaust all our resources doing so. With long-term care insurance, you protect yourself from the risk of longevity as well as protecting ones assets and maintaining your lifestyle.

Consult with an independent Long-Term Care Specialist that has the training in long-term care financing and planning (LTCP, CLTC). You will find this education at LongTermCareInsurancePros
Dane Petchul, LTCP, CLTC is a Long-Term Care insurance Specialist. He counsels his clients in Long-Term Care Planning and insurance. You can get Free information and articles regarding Long-Term Care and Long-Term Care insurance at http://www.longtermcareinsurancepros.com/ and download a Free Ebook.

Long-Term Care Insurance and What is the Real Cost of Self-Insuring?

Financial professionals realize that Medicare doesn’t cover long-term care and that it’s a bad idea to gift assets to qualify for Medicaid or MediCal (in California). The Deficit Reduction Act of 2005 tightened loopholes that allowed people to transfer assets to their children so they can qualify for Medicaid benefits.

Self- insuring for high net worth individuals needs to be addressed. Long-Term care specialists need to provide the proper information so that the clients can make an educated decision about long-term care insurance. It is important to calculate the real cost of self-insuring and communicate it to the client.

It is dangerous to ignore the inflation factor when planning for Long-term care. Let’s look at a married couple in their mid 50’s with $2 million of liquid assets not including their primary residence. At first glance, the couple considers what their liability would be at today’s rate. The average daily rate for a nursing home in California is $210/day. So, now the couple does some quick arithmetic and arrives at an annual cost of $76,660 with a potential 5-year cost of $383,250.00.

They quickly conclude that they can easily afford to self-insure when they compare the 5-year cost of $383,250 to their $2 million liquid net worth. The problem with this is that the couple didn’t come close to the true cost of self-insuring. To do that they would have to do the following:
· Adjust today’s cost of care for inflation
· Consider the potential tax consequences of taking a qualified plan distribution or selling as asset that has appreciated in value to pay the cost of care-out-of-pocket.
· Account for lost investment opportunity on the money that was spent self-insuring during the five years they pay for care.

Now, let’s look at the real cost of care with the couple living another 30 years. This would be the approximate time one of them may need long-term care. Today’s expense of $210 per day could grow to more than $900 per day 30 years from today. Multiplied out over a five-year care event, this would result in an out-of-pocket expense of $1.66 million, which is substantially more than the clients were anticipating.

In addition, if high net worth individuals have a combined state and federal marginal tax bracket of just over 37%, the could incur an additional tax liability of $610,000 if they take large enough distributions from their qualified retirement plans to cover the cost of care. The cumulative distributions could exceed $2.27 million to cover this care event. If the long-term care event was for only one spouse and the second spouse lived on another five years after the first spouse’s death, the second spouse has lost the use of the $2.27 million which was spent caring for the first spouse.

So what is the cost to insure this risk? What is the cost of purchasing a long-term care insurance policy as a hedge against the risk of needing long-term care? If the couple is in good health, they may be able to purchase a State Partnership long-term care insurance policy with a $210 daily benefit, a five-year benefit period and 5% compound inflation protection for a standard rate annual premium of approximately $2200/year per person. The couple would pay a total of $132,000 over 30 years to insure themselves against the $2.27 million in long-term care costs.

To be totally honest and fair, you can even take into account the lost investment opportunity on the premium. Assuming an after-tax rate of return of 4%, they would lose an additional $124,000 of investment return, bringing the true lifetime cost of purchasing long-term care insurance policies to $256,000 when paying for 30 years.

In conclusion, when most high net worth individuals understand the true cost of their choices, they see that long-term care insurance is an extremely cost-effective hedging strategy. It is important for the individual to understand the financial impact a long-term care event brings to brings to their retirement. That is when you see the real value of long-term care insurance.

For more information, consult with a Long-Term Care Specialist who has been trained in Long-Term care Financing and Planning. Visit http://www.LongTermCareInsurancePros.com and request a Free, No Obligation Consultation with Dane Petchul, LTCP, CLTC

Long-Term Care Insurance-What are Your Options?

The aging of America is bringing the topic of Long-Term care to the forefront. There is more in the news about the aging baby boomers and who will be available to provide 78 million seniors with home health care. We are not even talking about room in assisted living or nursing facilities.

The reality of the situation is who is going to pay for long-term care when it is needed. What are your choices and do they fit in with your own long-term care planning?

Medicare

Sometimes Medicare will pay for 20 days at a nursing home for recuperation and rehabilitation after a hospital stay and it picks up part of the cost for an additional 80 days. It does not cover custodial care that you need when you can't bathe, eat, dress or get around with help-or when you need supervision because of Alzheimer's disease or other forms of dementia.

Medicaid or Medi-Cal (in California)

This is a welfare program which is run jointly by the Federal government and the states and is for people with few assets and low income. This program kicks in when a person's assets are $2000 or less. Under a new Federal law, residents that purchase Long-Term Care Partnership plans from private insurers can qualify for Medicaid even if they have assets totaling more that $2000.00.

Savings and Assets (Private Pay)

You can self-insure which means you are responsible to pay for your long-term care if you have the financial means to do so primarily from your existing assets.

The national average daily rate for a private room in a nursing home is $213 or $77,745 annually. The national average, private pay monthly base rate for an individual residing in an assisted living community is $2969. or $35,628 annually.

Long-Term care planning must be put into place to make sure there are funds to cover these costs and still maintain the lifestyle of the spouse not in need of these services.

Long-Term Care Insurance

Long-Term Care insurance increases the family's leverage to choose the care it wants and provides peace of mind about getting the care. Not all facilities accept Medicaid patients and those that do may limit the number of spaces available because Medicaid pays at a discounted rate.

Long-Term care insurance pays for home care, assisted living and nursing home care. A policy with options for home health care and assisted living are useful as more people favor staying in their own homes as long as they can.

A Long-Term care Specialist can help design a plan that is specific for your own needs. For some, long-term care insurance may serve as a supplement to other savings and retirement planning.

It is important to add the inflation protection feature especially for younger buyers who may not claim benefits for many years.

Before purchasing a policy, make sure that the premium is affordable even when you retire. It is a bad strategy to purchase a plan and then let it lapse because you cannot afford the premium. It doesn't make sense to purchase long-term care insurance if it is not affordable.

Use the expertise of a Long-Term Care Specialist to simplify the process and help you compare different carriers and the different options available from the carriers as well as design a plan that will be affordable now and through your non-income producing years.

Before you purchase a long-term care policy, consult with Dane Petchul, LTCP, CLTC, a Long-Term Care Specialist. You will receive a free, no obligation quote with the costs and benefits appropriate for you and your family.

Long-Term Care Insurance and Adult Day Care Services

How are adult day care centers related to long-term care insurance? This service is a blessing to those looking for respite care for an aging parent or loved one.

What happens when you are still working, raising teenagers and now you have a parent that just needs help that you cannot provide on a daily basis without putting a tremendous strain on yourself as well as your family and work schedule.

Hooray, here comes the Adult Day Care Centers to the rescue. The services they provide are really fantastic. Of course, it is not free unless the participant qualifies for Medicaid which is about $2000.00 in assets.

Here is where Long-Term Care insurance comes into play. These services are covered by many long-term care insurance policies.

The bottom line is that you will be able to keep your family member at home longer. They will receive help during the day and you can avoid the guilt of placing them in institutional care.

It may be time to consider choosing an adult day program when someone you know appears unable to provide himself or herself with any structure for daily activities, is isolated from others for more than a few hours a day and misses companionship, cannot be safely left alone at home or lives with someone who works outside the home or needs regular time away from home for other reasons.

It is important to check out the Adult Day Care Centers in your area to see exactly what services they offer and if they meet your needs.

The services offered may include supervision, meals and snacks, group and individual activities, formal exercise, inter generational programming, health monitoring, caregiver support ,group nursing services, transportation, therapeutic art activities, therapeutic music programs, therapeutic programming with pets, podiatry, hair care, manicures, health care, medication management, shower/bath, medical evaluation, therapeutic dance activities, specialized diets, horticulture therapy, reminiscence therapy, physical therapy, speech therapy, occupational therapy and massage therapy.

Consult with Dane Petchul, LTCP, CLTC, an independent long-term care insurance specialist before purchasing a policy. With no obligation, a plan will be designed with your specific needs in mind. He will make sure that adult day care services will be provided in the policy. For more information and a free Ebook on long-term care, visit: http://www.longtermcareinsurancepros.com/

Long-Term Care Insurance Helps You Control Your Own Destiny

Many states have a "Own Your Future" campaign as part of a government effort under the auspices of Health and Human Services to promote Americans' need to be more aware of long-term care options.

Medicare does not cover the cost of many long-term care services. The private sector is expected to fill that role. It is important that people need to consider and plan for their long-term care needs.

The U.S. Department of Health and Human Services estimates that 70 percent of Americans who reach 65 or older will need some sort of long-term care services. These services are highly customizable.

Many people when they hear about long-term care or long-term care insurance automatically think about a nursing home. That is no longer true. We have so many choices today. Long-term care insurance gives you the opportunity to receive care how and where you want it. It can be in your own home, in an adult day care facility, assisted living or any number of rehabilitative options.

The point is that long-term care insurance keeps you in control of your own destiny.

To educate yourself, consult with a Long-Term Care Specialist to learn what your options are.

Why You Need to Read and Know About Long-Term Care and Aging

Without sounding too pessimistic, how are you planning on taking care of yourself and spouse if either one or both of you require long-term care? Are you aware of the costs of assisted living, nursing home or even what it costs for a caregiver to come into your home?

According to Met Life Mature Institute report and Genworth, it is wide-ranging but up to $75,000 per year per person. The cost is expected to hit a hundred thousand in the near future.

Do you have the financial means to pay $100,000 per year and still continue to maintain the lifestyle you had planned? What this means is that you will spend all of your assets on your long-term care until you are essentially broke. Then once all of your money and assets are gone, the government will step in.

As Americans are aging and the baby boomers are retiring, there will only be so much government to go around. You already hear about how social security is in trouble, plus medicare and other programs. There is no guarantee that you will benefit from any of the social programs that the government provides.

Do you want to exhaust your savings and leave no inheritance or legacy to the ones you care about? Do you want to be in charge of where you receive care? You have worked your whole life to be independent and in charge of your life.

The solution to this is to purchase a Long-Term care insurance policy when you are still healthy and of an age where the premiums are reasonable. A Long-Term care specialist will educate you first and then with your input help design a plan that works for your unique situation.

Before you purchase Long-Term care insurance, contact Long Term Care Insurance Pros for a free, no obligation, comparative quote from the top companies. For immediate assistance, call 877-GO-4-LTCi (464-5824)

Education is Needed for Long-Term Care Insurance

No one likes to think about relying on long-term care. But the reality is that any person could fall victim to a disability or need chronic care because of aging.

New research from Mintel (Chicago), a leading global supplier of consumer, product and media intelligence suggests that many Americans are not prepared for these possibilities.

In a new report, Mintel found that less than 60% of adults are familiar with long-term care insurance. Furthermore, three-quarters (74%) do not currently have any type of long-term care coverage. Almost one in five state they don’t know why they haven’t purchased a long-term care policy or that they “don’t know anything about it.”

Overall Americans are not educated and lack the understanding that the benefits and value long-term care insurance policies offer. Many people either don’t want to confront the issue of aging or they view long-term care insurance as too expensive and unnecessary.

Mintel’s consumer survey found that cost is the primary reason people don’t purchase long-term care insurance. Forty-two percent of survey respondents said they haven’t purchased it because “it is too expensive.” Other common deterrents include the belief they won’t ever need long-term care (17%) or that its costs will be covered by Medicare or Medicaid (15%). Finally, 13% of respondents say they would like to purchase it but they just haven’t gotten around to it yet.

It is important to educate the public about long-term care insurance’s value,” says Dane Petchul, Long-Term Care Specialist. Education is the first step with a client in determining whether Long-Term Care insurance is necessary for their own Long-Term Care plan.

Over two-thirds of the people surveyed who had long-term care insurance purchased policies because they didn’t want to burden others with their care. Another reason given by consumers is the preservation of assets which helps preserve their lifestyle in retirement.

Consumer education can be done from the convenience of one’s own home or office. It can be done over the telephone and internet with web screen-sharing. It is only with education that the consumer can make an informed decision in regards to his Long-Term care plan.

Stop procrastinating and get the Long-Term care information that will save you and your family from the rigors of planning for long-term care well before an event may occur.

Long-Term Care Insurance State Partnership Plans

About two thirds of the states have long-term care insurance partnership programs put in place for their residents. These partnership programs were designed to encourage the purchase of Long-Term Care insurance by state residents so that the states can reduce its liability for paying for long-term care costs in the future. These partnership plans are vital if the current State Medicaid (or MedI-Cal in California) are to remain solvent.

The advantage the partnership policies have to consumers is that the state acts as a safety net for them in case their care exceeds the benefits of their Long-Term care policy, and they are guaranteed that long-term care costs will not be allowed to completely wipe out all of their assets.

The basic premise of the partnership program is that it allows the purchaser of a Long-Term Care insurance policy to shelter an amount of funds equal to the amount the policy pays out in benefits and still qualify for state assistance through Medicaid, as long as he or she has exhausted all of the benefits and still needs care. This ensures that Long-Term Care insurance partnership policyholders will never have to be impoverished to receive state assistance, even if their need for care outlasts the benefits of their Long-Term Care insurance policy.

This is a clear benefit to consumers, because they no longer have to buy policies that contain lifetime benefits to ensure that long-term care costs won’t wipe out their life savings. They can choose a lower benefit period instead, perhaps three to five years, which is very adequate coverage for the vast majority of consumers.

What identifies a policy as being partnership-qualified? There are several qualifications that were outlined in the federal Deficit Reduction Act of 2005, including the need to be federally tax-qualified and to contain the consumer protection provisions of the NAIC LTC Model Act and Model Regulation. The vast majority of policies sold today already have those provisions.However, there is one requirement that contributes more than almost any other to qualifying a Long-Term Care insurance policy for the partnership program. It must have the age-appropriate inflation protection benefit.

These requirements are as follows:

• Those age 60 or younger must have “compound annual inflation protection.”
• Those at least 61 but younger than 76 must have “some level of inflation protection.”
• Those age 76 or older must be offered an inflation protection option, but they are not required to purchase that option.

Why is inflation protection given such prominence in partnership-qualified policies? The answer is that if partnership-qualified policies don't have inflation protection, the purpose of a partnership program may be defeated.

This is because the whole purpose of the partnership program is to help relieve the financial burden of long-term care costs from the state Medicaid or Medi-Cal systems. If a consumer buys a Long-Term Care insurance policy but does not allow it to keep pace with the rising costs of care, the insufficient benefits will be more likely to force the policyholder to turn to Medicaid or Medi-Cal anyway. With very few assets left, the state will have to pick up the rest of the bill for this individual and the original intent of the program is defeated.

Long-Term Care specialists require special state certification to be able to sell the partnership plans. The long-term care specialist works for you, the client, and shows no bias towards one carrier or another. Schedule a consultation to determine which carrier, and what benefits would best satisfy your individual needs.

Long-Term Care-What's All the Fuss About?

It is universally agreed that no one wants to think about their parents or themselves in a situation where they are no longer able to do everything they used to do without any assistance. So, what’s all the fuss about? The fuss is about not wanting to think about nor make a plan for long-term care. Should we continue not thinking about it or put a long-term care plan in place that will be able to handle the situation when it arrives?

With a long-term care plan in place, we as children will be able to continue maintaining our roles as children rather than caregivers. We will continue our relationships with our parents by visiting, having family gatherings, outings and celebrations together. It also means that the chores of caregiving will be handled by the caregivers entrusted to care for our parents.

Parents usually do not want to burden their children with their long-term care, but still want their children involved in their lives. The physical and emotional side to caregiving is more than most can handle. When the roles are reversed with the child now caring for the parent, the family dynamics change drastically. Caregiving for our children is expected, but for our parents it is difficult. We look to our parents as mentors, advisors and reversing the role of child and parent has emotional consequences.

A Long-Term care insurance policy can help make an unpleasant situation more bearable by providing the finances to pay for caregiving in the home. Most people would like to stay at home to receive care. It is hard enough to admit that someone you love needs help with the activities of daily living such as bathing, grocery shopping household chores. However, keeping them in the familiar surroundings of their own home minimizes the trauma these events have on the families.

Your need for long-term care could not only deplete the inheritance you had planned on leaving to your children, it may also affect their financial security, career goals, as well as their personal lifestyle. To alleviate these problems, more and more parents and their grown children are putting both their heads and their money together to develop a long-term care plan.

Long-Term care insurance may offer security to both parents and children, by assuring that education, retirement income, and inheritance dollars will not be invaded to pay for care needed by an older parent. In some cases, children and parents are sharing in the cost of coverage. The emotional issue of inheritance, mixed with the stress of the potential need for long-term care provides the catalyst for grown children to consider paying for at least some of the Long-Term care insurance premium for their parents. This may also alleviate the potential problems that might arise among siblings once a parent requires long-term care.

Although inheritance and income protection are the rational reasons behind having the long-term care conversation with parents, the primary motivation for grown children to consider sharing in the premium with their parents is the peace of mind of knowing that their parents will have options for quality care-options that otherwise might not be available to them. Long-Term care insurance is purchased because the emotional and psychological benefits of knowing their parents will be well cared for outweigh the cost of the premiums.

If you haven’t had the conversation with your parents, the time is now. Planning for long-term care now when everyone is healthy and has good cognitive ability will make you say Long-term care…what’s all the fuss about?

For free Long-Term Care insurance advice from a Long-Term Care Specialist, visit http://www.longtermcareinsurancepros.com/ You can get free online comparative rate quotes from top carriers as well as a plan personalized for your own situation.

Long-Term Care Costs are on the Rise...Do You have a Plan?

I had to share this article from the The Orange County Register.

This comes as no surprise: The cost of long-term care in nursing homes, assisted-living facilities and in-home care has increased for the fifth consecutive year.
Also not surprising is the news that we face a shortage of direct-care workers, which will further increase the cost of long-term care.In 2008, the average annual price of a private nursing facility reached $76,460 nationwide, according to a survey by Genworth Financial.
The assisted-living home cost is $36,090 a year nationally, the same survey revealed.Meanwhile, in-home care costs stayed fairly flat at about $44,000 nationally, says Beth Ludden, senior vice president for long-term care products for Genworth, a major long-term care insurance provider.

Q: Your study indicates the expense of just a few years of long-term care in a facility or at home can quickly wipe out a lifetime of savings.

A: Well, having an insurance policy that pays for this type of service is definitely a benefit. These policies should be part of retirement planning.

Q: The nursing home cost varies widely by region – for instance, Alaska averages $187,902 a year and Louisiana $45,539. Can you explain the variation?

A: In certain urban or remote areas, costs can jump 40 percent above other regions. One interesting thing is demand. The cost for assisted living in Orange County, Calif., for example, went up quite a bit, about 16 percent, suggesting that assisted living is relatively popular.

Q: What about adult day-care services - where the elder is cared for during the work day and then returns home at night?

A: Costs are relatively modest, and this is a viable alternative for people who may be living with a family member who works outside the home.

Q: The study mentions a lack of sufficient home-care workers in the future. Does this have anything to do with immigration, as many of these workers currently are from Hispanic countries?

A: Immigration trends definitely are playing a role in the workforce issue. But we need, as a country, to take a step back to promote caregiving and those types of services as a more attractive career option.We need to advocate for better wages, education and training.

Q: What's new in home care that could reduce costs?

A: Technology is playing a larger role and reducing, to some extent, the need for human intervention. Remote monitoring comes into play. People are able to transmit blood pressure and blood sugar readings. Medication can be dispensed and there is a way to make sure it is actually being taken.Some of the new technology in the pipeline will mitigate the demand for home-care workers.

Q: Long-term care insurance is still a new product that not too many people buy. Why not, and what's the future?

A: At this point, among people in the 50-plus age group, long-term care insurance has about a 7 percent penetration, and about a third of these people are using their policy. Many people don't understand the need for this insurance.

Q: When does it make sense to buy this insurance and what if I don't use it?

A: We recommend looking at buying the insurance around age 50, because it is cheaper then. There are several products that return the premium in the event no long-term care is given, and if you can go through life without needing long-term care, that's a good thing.

Q: California has a partnership program for long-term care purchasing. I understand policies are available to people as old as 70.

A: Yes, but they are more expensive, of course.

Q: Given the current economy, are more family members providing caregiving?

A: We see the workforce component as being a key driver, and our policies will pay for a family member to provide care as long as the caregiver was not residing in the home prior to caring for the insured person. We do advocate for some of the proposals giving family caregivers tax incentives to relieve some of their burden.Long-term care insurance doesn't take the place of the family providing care, but it does offer caregiving in a different way. It frees the family member to spend quality time with the elder when the person is disabled.

Q: And we need to think about this sooner rather than later?

A: Yes, because we're all getting older and we require different strategies.

A Long-Term Care Specialist can assist you in comparing all the top carriers. A Long-Term Care Specialist is certified and has specific training in Long-Term Care Planning and Insurance.

Long Term Care Planning is Easy with Long Term Care Insurance Pros

Is Long-Term Care in your Future?

Needing care in our homes or having to go to a long-term care facility is something we hope we will never need.

Several factors determine when it's time to sell the car, need help shopping for groceries, visiting the Doctor and keeping up with the household chores.

Remaining independent is not just taking care of ourselves, but also taking care of our environment (mowing the lawn, taking out the trash)

Most people do not know how a long term care insurance policy works. It is different than medical insurance.

There are lots of different options that can be insignificant and people get confused while not focusing on what really matters. Dealing with a Long-Term Care Specialist will help you make the decision on what will give you the most value. It will also save you lots of time.

It is important to get the right coverage without overspending. A Long-Term care specialist will help you focus on what is important.

For a Free, online quote from the Top Carriers, schedule a home or telephone interview with LongTermCareInsurancePros

Long-Term Care Costs are Increasing

Nursing Home, Assisted Living Costs Increase for Fifth Consecutive Year

Costs for nursing homes and assisted living centers rose again from 2007 to 2008, making this the fifth consecutive year of price increases, according to results from Genworth’s latest Cost of Care Survey.

Costs for nursing homes have jumped 17 percent since 2004 and now average $76,460 annually or $209 per day for a private room. Assisted living charges escalated even more during the same period, rising 25 percent to average $36,090 nationally.

In contrast, in-home care costs for non-Medicare certified workers have remained relatively stable since 2004 and continue to average $18/hour for homemaker services and $19/hour for a home health aide. The cost of a Medicare-certified aide, however, has changed, rising 7 percent over the past four years to reach $38/hour on average in 2008.

For the first time, the survey looked at adult day health care. The annual cost for five-day-a week participation in a community-based care setting is $15,000, with an average daily price of $59.

The study speculates that costs will rise further if the shortage of long-term care workers continues.

Long-term care costs can vary significantly by locale. For cost information by state or metropolitan area, visit http://www.genworth.com/costofcare. You can also read the full report and a description of the research methodology used.

Long-Term Care should be part of your retirement plan. It is best to consult with a Long-Term Care specialist.

Simplify Your Long-Term Care Planning with Long Term Care Insurance Pros

Long-Term Care Insurance In the News

Long-Term care and Long-Term care insurance are in the news daily. Maybe I am aware because it affects me and so many of my clients.

It's is generally a topic that no one wants to discuss except when a crisis situation has occurred in their family. Then, everyone seems eager to tell the story of a parent, family member or close friend that suddenly had a long-term care event . The story goes on to talk about the incident and the emotional drain of getting care for the family member. Of course, the finances of caring for the family member also comes into play.

We face an impending crisis as many older Americans are living longer, with more complex health care needs, and this increasingly outpaces health care providers.

Are you really prepared to take on the unexpected expense of caring for a loved one? Taking time off work, lost income and increasing expenses, in addition to the emotional impact, is enough to make anyone take some action.

In today’s economy, Long Term Care insurance helps families manage consequences rather than just the high cost of professional services and its risk.

Simplify Your Long-Term Care Planning! Consult with a Long-Term Care Specialist.

Read more articles on Long-Term care planning.

Long-Term Care Insurance Counseling

Buyers Beware! Insurance policies are legally binding contracts. How many people realize that before they get coverage?

Long-Term care insurance is no exception. Getting the counseling of a Long-Term care specialist will save you time and prevent any regrets in the future. The counseling includes:

• Companies to be avoided
• Companies best suited to your individual situation
• Knowing the exact provisions of your policy
• Inflation protection
• Getting a good plan without over spending

The provisions of your policy that you should be aware of are:

• Home Health care
• Assisted living
• Adult Day
• Alternate care
• Respite care
• Nursing home care

You can get online quotes for your specific financial situation very easily. The main thing to realize is that you are the one in control of your financial health care future.

But the longer you wait to purchase long term healthcare insurance, the more risk you could possibly incur. Take some time to sit down and figure out your financial situation in regards to your future long term health care benefits, you’ll be glad you did.

Long-Term Care Insurance Partnership Plan

California is fortunate in that California Partnership policies are available to consumers. With a partnership plan, someone can purchase less than unlimited benefit amounts.

To qualify for Med-Cal to cover the costs of long-term care, individuals must spend down virtually all of their savings until they are considered at poverty level.

However, individuals who have purchased a Partnership policy will be able to retain savings and other investments equal to the amount their private insurance pays out for long-term care.

For example, if an individual has a two-year long-term care policy, but actually needs five years of care, their policy will pay benefits for two years (say, equal to $100,000) and Medi-Cal will allow them to keep $100,000 of their assets when determining their eligibility for Medi-Cal coverage for the remaining years.

Long Term Care Insurance Pros counsels families in Long-Term care planning and simplifies a complex subject. As Long-Term care specialists they are aware of the "sweet spots" of the top carriers. They simplify long-term care planning.

Long-Term Care Insurance helps keep Seniors Independent

In a recent edition of Elder Update, it was noted that most seniors fear losing their independence more than anything else. Consequently, nine out of 10 Americans age 60 and older wish to live out their lives in familiar surroundings rather than a hospital or nursing home.

Although an AARP survey found that nearly two out of three younger adults have discussed the subject of living independently with their parents, only four of 10 have begun to make any specific plans to handle a situation where the parents may need some assistance with some everyday tasks.

Too often those decisions are made during times of stress or when the parent can no longer be health qualified. It is advisable that older adults and their children consider the likelihood of needing services, consider whether they would be available as a community service (such as meals on wheels), figure the costs of providing needed services, decide whether you can save enough to pay for those services, and look into the possibility of long-term care insurance that provides in-home services.

For the best consultation available for Long-Term Care Planning go to http://www.LongTermCareInsurancePros.com

Long-Term Care Specialist

Everyday I encounter colleagues, neighbors, acquaintences and friends that are starting to ask questions regarding Long-Term care planning and Long-Term Care insurance. I understand how complicated the process can be when you are not speaking with someone that specializes in Long-Term Care planning.

Long-Term care can be hard to understand and it requires a broad knowledge of a person sfinancial plan in order to find just the right product. I am an independent Long-Term Care specialist and utilize only the top rated companies in the country. All the companies compensate the agents equally, so there is no bias toward one company or another. I look at your financial situation and select the company and product that will most accurately fit your overall situation.

There is a lot of work in finding the most appropriate Long-term care policy and only a professional that specializes in Long-Term Care should be consulted prior to making such an investment.

I offer policies that are tax qualified and I have also received special training and certification required to market Partnership policies.

Give me a call today and we can design a Long-Term care plan specifically for you. Call 949-854-3001 or Toll Free 1-877-GO-4-LTCi (877-464-5824) or visit our Long-Term Care Website at http://www.longtermcareinsurancepros.com/