With the increasing life expectancy, more people will likely spend a year or longer in some sort of adult care facility. In fact, according to a 2006 Kaiser Foundation study, over five million people ages 18-64 need some type of long-term care (LTC) in their lifetime. Many people forego LTC insurance because of the price … Read more
As we grow older and face physical illness or injury, many need help with daily activities performed all our lives: eating, dressing, bathing, using the toilet and simply getting around. But professional help can be quite expensive—and relying on friends and family can burden them unnecessarily. That’s where long term care insurance comes in. By … Read more
Individuals who are ineligible for Medicaid and do not make enough money to pay for long term care services out of pocket may benefit from long term care insurance. This will cover the costs incurred to pay for assistance with daily activities like eating, bathing, dressing and moving throughout one’s residence. Most individuals do not … Read more
Daniel Workman About 70 percent of seniors over age 65 will require long-term care at some point in their lives, according to the U.S. Department of Health and Human Services. And the cost of caring for an elderly family member who needs nursing care can be financially overwhelming. Long-term care (LTC) insurance policies can cover an … Read more
Amy Higgins As baby boomers approach retirement, it’s important they know their health care will be covered in the future. While most baby boomers will collect benefits from Social Security and Medicare, and some will have additional income from individual retirement accounts or other savings, their benefits may not cover health care expenses if they … Read more
Jill Overmyer Long-term care insurance covers costs associated with not being able to care for yourself that aren’t normally covered under health insurance policies or Medicare. Long-term care policies, according to the U.S. Department of Health and Human Services, can cover costs and services like: Adult day care centers. Assisted-living facilities. Hospice care. Nursing homes. Home equipment … Read more
Marcus Pickett Long-term care often is a budget buster for individuals and insurance companies. Expenses accumulate daily and may go on for years, even decades. Many people do not carry long-term care insurance at all, and those who do frequently contend with lifetime coverage limits or time interval limits (often three years) just to be able to … Read more
Amy Higgins The Community Living Assistance Services and Support Act (CLASS Act), a provision under the federal health care reform law, is a new program that will provide long-term care insurance to participants regardless of health issues. Although the program seeks to prevent Americans from being saddled with catastrophic long-term care costs, it’s the cost … Read more
Marcus Pickett You’re nothing without your health, or so the saying goes. By and large, Americans age 50 and older seem to agree. Looking for the top issues facing middle-age and older Americans, the AARP recently completed a state-by-state survey of people 50 and over. Staying healthy and staying mentally sharp received the highest response rates for … Read more
Jill Overmyer Long-term care insurance covers the cost of valuable services for senior citizens and disabled people who can no longer care for themselves. These can range from in-home care to outside services like adult day care or rehabilitation appointments. But if long-term care insurance recipients can’t care for themselves, how can they get to … Read more