His mother lived to age 91 with Parkinson’s Disease, and the costs would have been overwhelming without long term care insurance.
Tag: Cost of Care
May 21
Barbara’s Decision
After buying a long term care policy 10 years ago, Barbara doesn’t have to worry about burdening her children with the cost of her care.
May 15
Ask Your Employer to Offer Long-Term Care Insurance
Ask your employer to offer long-term care insurance that is qualified for the Long-Term Care Partnership to employees 18+ to help your family AND your state budget.
Mar 19
How Old are People When They Need Long-Term Care?
Last week we established that most long-term care doesn’t happen in a nursing home. Most of it is provided by a primary caregiver in the home. That caregiver is usually a woman, and she could be a daughter or daughter-in-law or a spouse. She could even be a mom, like my cousin who took six …
Mar 11
The New Directions of LTCI
The New Directions of LTCI (written for Agent Sales Journal, January 2010 issue) Research from McKinsey & Co. finds that the average American family will face a savings gap of $250,000 at the time of retirement. Even with payments from Social Security and pensions, as well as personal savings in 401(k) and other retirement plans, …
Mar 11
Trends in LTCI or Trains?
Trends in LTCI or Trains? (written for Life Insurance Selling, November 2010 issue) The long-term care insurance industry is hanging between the Medicaid expansion on one side making people think the state will pay, the CLASS Act on the other side making people think the federal government will pay, and rate increases hanging over us …
Mar 11
You Can’t Put a Price on Dignity
You Can’t Put a Price on Dignity (written for California Broker, November 2010) The nation is being engulfed by a tidal wave of entitlement mentality. The feasibility of funding long-term care with taxpayer dollars through the Medicaid program is bleak with 150 million employees vs. 58 million people on Medicaid today.2, 3 That’s a ratio …
Mar 11
Is CPI Inflation Adequate?
You will definitely want to pick up Prudential’s 2010 Long-Term Care Cost Study, which measures trends in costs associated with the major forms of long-term care services. (See the link to this survey under “What Does Long-Term Care Cost?” on this site.) I’ve seen the cost of care increase an average of 5-6% compounded annually …
Dec 14
State Budget Shortfalls and State-Specific Budget Cuts
Public-Private Long-Term Care Insurance Plans will have a tremendously positive impact on state budgets if we educate employers to offer it now to all employees to decrease cuts in other services like you see here.
Dec 09
States Continue to Feel Recession’s Impact
By Elizabeth McNichol, Phil Oliff, and Nicholas Johnson
The worst recession since the 1930s has caused the steepest decline in state tax receipts on record. State tax collections, adjusted for inflation, are now 12 percent below pre-recession levels, while the need for state-funded services has not declined. As a result, even after making very deep spending cuts over the last two years, states continue to face large budget gaps.