Long-Term Care Affordability and Security Act of 2009

The American Council of Life Insurers (ACLI) applauds the Senators (bi-partisan, I may say) for introducing legislation that will help Americans prepare for their long-term care needs.

The "Long-Term Care Affordability and Security Act" (S.702) would permit long-term care insurance to be included in employer-sponsored cafeteria plans and flexible spending accounts (FSA), enabling people to pay long-term care insurance premiums using pre-tax dollars. Current law excludes long-term care insurance from being included in cafeteria and FSA plans.

Many retirees would have to deplete their hard-earned savings to pay for these services. Long-term care insurance can help cover the costs of long-term care services and protect Americans’ savings.” says CEO Frank Keating of The American Council of Life Insurers (ACLI). He is urging Congress to pass this important legislation.

The government sees a problem of where the money will come from to pay for the 77 million baby-boomers. Long-term care planning needs to be addressed at a time that one is healthy enough to qualify for coverage.

If you are in your 50's, 60's or older, this legislation may be too late to help you, but your children and grandchildren may benefit.

It is important to remember that:

• Your Good Health may qualify you for a good health discount
• The Younger you are the lower the premium
• Long-Term Care insurance must be comfortably affordable

Long-Term Care Articles and Resources

What is Long-Term Care?

So often, I have clients who do not completely understand what Long-Term care is. Many think that it is having been hospitalized. In some cases, long-term care can occur after a hospital stay if the patient health is not improving.

When you think of a hospital stay, you may have an operation or an ailment such as pneumonia. These conditions may vary well improve and you can go on taking care of yourself. Long-Term care comes in when you have a situation where you need help with the activities of daily living.

These activities are eating, bathing, dressing, transferring, incontinence and walking. Long-Term care is needed when you have a chronic illness or disability that causes you to need assistance with Activities of Daily Living. Your illness or disability could include a problem with memory loss, confusion, or disorientation. (This is called Cognitive Impairment and can result from conditions such as Alzheimer's disease.)

In 2008, about nine million Americans over the age of 65 will need long-term care services. By 2020, that number will increase to twelve million. Most people who need long-term care are age 65 or older, a person can need long-term care services at any age. Forty (40) percent of people currently receiving long-term care are adults 18 to 64 years old.

No one knows when they will require assistance, but the chances of needing care increase as we age. Medical science, new prescription drugs help us live longer today.

You are younger and healthier today than you will ever be. This is the right time to look more closely at a good long-term care plan. Speak with a Long-Term Care insurance specialist today!

Long-Term Care Insurance Carriers Change with the Times

I just returned from an independent Long-Term Care producers conference held in Barcelona, Spain. A number of the top carriers were in attendance. Of course, the different companies all want you to sell their product.

In listening to the companies spokesman, the same point seems to be made across the board. The companies are coming up with new plans that fit today's consumers in regards to lifestyle and health qualifications. In some cases, the carriers have actually loosened up their underwriting guidelines to make long-term care insurance available to more people.

Among the fastest growing products are the Life + Long-Term Care combination Products.

There is more talk about long-term care planning than ever before because there is a greater need for long-term care. We are all living longer thanks to the advances of medical science. Baby boomers will start turning 65 in 2011. Between 2000 and 2040 the number of older adults with disabilities will more than double.

An independent Long-Term Care Specialist is able to help you determine what the best long-term plan is best for you and your family. He has access to many different carriers and the products they have whether it be long-term care insurance or a hybrid product with a long-term care rider.

For more online articles and resources, visit LongTermCareInsurancePros