Financing Long-Term Care

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 thorough investigation into the cost of premiums from several of the financially sound major carriers and have found that the cost is more than you can reasonably bear, then long-term care insurance is not for you. But if you are like most people, the real reason that...Read entire article »

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• A Sneaky Secret About Long-Term Care Insurance Premiums
• The Most Common & Expensive Long-Term Care Insurance Mistake

In A Sneaky Secret About Long-Term Care Insurance Premiums, I discuss the possibility of LTCI premium increases due to selecting an inflation protection option that is not automatic at the inception of the policy. In this article, I will explain how policyholders could face future rate increases due to factors that are beyond their control. Protecting Against Premium Increases When a policy design includes automatic inflation protection, the premiums are designed to stay level for life. This is because...Read entire article »

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• Your Long-Term Care Insurance Plan: How to Find an Affordable Policy without Sacrificing Coverage
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• How to Identify a Partnership-Qualified Long-Term Care Insurance Policy

Affordability is a key ingredient in any successful long-term care plan. That is why the premium cost is often the most important factor to consumers who are considering the purchase of LTCI. “Will My Premiums Ever Increase?” One of the most common questions I hear is: “Will my premiums ever increase?” The answer is this: there are a couple of scenarios in which LTCI premiums could increase. I will try to explain one in this article and follow up...Read entire article »

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In previous blog articles I have discussed the long-term care insurance partnership program that almost two thirds of the states have already put in place or are in the process of approving for their residents. This program is designed to encourage the purchase of LTCI by consumers so that the state can reduce its liability for paying for long-term care costs in the future. This is vital if current state Medicaid programs are going to remain solvent. The advantage...Read entire article »

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• Your Long-Term Care Insurance Plan: How to Find an Affordable Policy without Sacrificing Coverage
• How Long Will You Have To Pay Long-Term Care Insurance Premiums?
• LTCI: Does Automatic Inflation Protection Guarantee Against Rate Hikes?

Both state and federal governments have begun to realize that long-term care costs have the potential to become a major budgetary problem in the not-too-distant future. One significant contributing factor is the large pool of baby boomers nearing or entering retirement, many of whom will require long-term care very soon. As a result, lawmakers have begun taking steps to encourage consumers to take responsibility for their own long-term care needs and purchase LTCI (long-term care insurance). One of the...Read entire article »

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