The following is an abbreviated section from my book The ABC’s of Long-Term Care Insurance – keepin’ it REALLY simple for you, folks! To simplify the benefit selection process, there are six major choices that impact a premium. Here is each choice and a recommendation. 1a) Daily or Monthly Benefit – Look at the average …
Tag: Long-Term Care Cost
Mar 12
What is Long-Term Care?
There are many names for this event that can dramatically affect your relationships with others – your parents, children, siblings, and yes, it can and does affect marriages and committed relationships in many ways. Together we will explore the financial side of course, but not stop there. The most common name for this is long-term …
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.
Nov 05
An Update on State Budget Cuts
By Nicholas Johnson, Phil Oliff, and Erica Williams
With tax revenue still declining as a result of the recession and budget reserves largely drained, the vast majority of states have made spending cuts that hurt families and reduce necessary services. These cuts, in turn, have deepened states’ economic problems because families and businesses have less to spend.