What’s the Future of LTCI in California?
The California Public Employees’ Retirement System (CalPERS) offers retirement benefits to state, public and classified school employees and their families. Employees and their employers (state agencies funded by tax dollars) make contributions to CalPERS, and a 13-member board invests those funds. In 1990, CalPERS initiated a self-funded, not-for-profit long-term care insurance (LTCI) program. They are currently the largest LTCI provider in California and the second-largest buyer of LTCI in the US, with only the federal government ahead of them....Read the rest of this article »Related Articles
Which is Better: Individual Long-Term Care Insurance or Group Plans?
More and more companies are beginning 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 most cases individual LTCI policies will be able to offer not only lower premiums, but also better benefits if they are examined in a true “apples...Read the rest of this article »Related Articles
Preparing for the High Cost of Long-Term Care
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. Most felt that only $500–1000 a month would do the trick nicely. I find a similar unrealistic outlook when I work with folks and...Read the rest of this article »Related Articles
When Should You Consider Buying Long-Term Care Insurance?
The 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 as multiple sclerosis, Parkinson's or Alzheimer's, we simply can't rely on waiting till the last minute to buy long-term care insuranceThe truth is that anyone, at any age, can have an unexpected accident...Read the rest of this article »Related Articles
New Jersey Law Provides More Long-term Care Choices
It’s always pleasing to highlight good news! 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 by Governor Jon S. Corzine.The law provides "an extraordinary change in direction and policy in a way that makes sure our seniors have a choice," said Corzine at a recent...Read the rest of this article »Related Articles
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