There are several reasons why consumers may choose not to buy long-term care insurance. Some of those reasons may be based on very sound decisions. For instance, if you have made a good research into the cost of premiums from several of the financially sound major carriers and have found that the cost is more [...]
We all love a good news once in a while! Recently, the New Jersey legislature passed a law that will offer seniors on Medicaid more long-term care options. By 2008, senior citizens living in New Jersey will have a choice in the type of long-term care they receive through Medicaid, under a law made by [...]
When Should You Consider Buying Long-Term Care Insurance?
The only short answer to this question is the month before you need to make a claim But since none of us have a crystal ball to tell us when we will be having a stroke or heart attack, or be diagnosed with a debilitating disease such [...]
Lots and lots of companies are now starting to offer long-term care insurance (LTCI) to their employees as part of an overall health care benefits package. And since buying group medical insurance is usually a way to get lower insurance rates, most people automatically assume that the same is true with LTCI policies. However, in [...]
People are often confused with Medicaid for Medicare, which is another government sponsored program. However, these programs are very different in what they are designed to do. Medicare is actually the national health care assistance program given by the federal government. Its function is to make sure that affordable home health care is available to [...]
One close family friend of mine recently called on the phone to ask me, “So I am thinking about long-term care insurance, what exactly should I be looking for and where do I start? ” And my answer was, ” Are you confused?” “Yes.” “Well, that’s how most people start.” We both laughed, but the [...]
As a rule of thumb, I don;t discuss religion and politics unless I;m in the company of close friends or family, it’s just too easy to cross the line from thought-provoking to offensive, especially for someone who’s as outspoken and opinionated as I am. After reading a recent article on President Bush’s 2.9 trillion spending [...]
Long-term care insurance is a good financial protection vehicle for anyone who has enough assets to protect and can comfortably afford the premiums. It can help ensure that all of the time and effort you have spent on acquiring a sufficient retirement income is not lost due to the rising costs of long-term care. There [...]
In a recent survey conducted by AARP, the findings showed that there is a clear disconnect between what most people think long-term care costs and the actual cost of care itself. In fact, after surveying 1,456 people over the age of 45, only one in 12 came within 20% of estimating long-term care costs accurately. [...]
On Monday, the New York Times ran a great story about Medicare Advantage Plans. Medicare Advantage Plans are a type of home health care plan sold by private insurance companies. These plans are actually associated with Medicare. It seems that seniors across the country have been duped into signing away their Medicare benefits by enrolling [...]
