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)