Unless we die of a sudden event, most of us will experience a long-term care (LTC) journey. According to the US Department of Health and Human Services, 70% of people turning age 65 will need LTC at some point in their lives. The question is, how will that journey affect our finances, our health, and our loved ones? With long-term care insurance (LTCI) that journey can be a little easier.
June is Alzheimer’s and Brain Awareness Month and the Alzheimer’s Association is asking you to get involved. They have five simple steps to show your support and encourage more awareness. The first three are to “go purple”, the fourth is to share your story, and the fifth is to take action. LTC Consumer will be participating in all of these to help spread the word and fight to end Alzheimer’s. Continue reading
Time to dust off that thigh master, find that Jane Fonda workout tape, and put on those leg warmers. Wednesday, May 29 is National Senior Health and Fitness Day, where the theme is “Live and Thrive with Exercise” and the goal is about getting – and keeping – older Americans healthy and fit. Organizations will host health and fitness activities focusing on the senior market in their communities and encourage a healthier lifestyle. Continue reading
Many people assume that just because they’ve had some form of cancer, that they are no longer eligible for long-term care insurance. Actually, if you’ve strictly followed all treatment, waited an appropriate numbers of years, and are released from a doctor’s care, then there’s a good chance you are eligible. Your best bet is to speak with a specialist who will ask you a series of questions and research which carrier can give you the best coverage for the best cost. Continue reading
Learning about any type of insurance doesn’t sound like an awesome way to spend an afternoon. Long-Term Care Insurance (LTCI) can be intimidating, and when people start researching, they can quickly get frustrated and overwhelmed. That’s why it’s so important to work with a Specialist who can save you money, time, and stress by guiding you to a long-term care (LTC) plan that fits your needs and budget – all while sitting in the comfort of your own home. Continue reading
We’ve heard the statistics. 70% of people turning age 65 will need long-term care (LTC) at some point in their lives. 15 million Americans are expected to need LTC by 2050. In 2015 there were $225 billion (Billion! not million) in LTC expenditures in the US. We know we should probably look into purchasing long-term care insurance (LTCI). But what age is the best age to purchase LTCI? Continue reading
What is the average annual cost of long-term care (LTC)? What’s the difference in cost between assisted living and a private room in a nursing home? What does home health care cost? In our ongoing infographic series, we dig into these answers and more. In our first Infographic this year we explored who needs LTC and how long they need it. In this week’s Infographic we analyze the cost of various types of LTC facilities, and the surprisingly low income we may have in paying for care. Continue reading
Do you or your elderly loves ones have expired or unwanted prescription drugs taking up valuable bathroom and kitchen cabinet space? This can become a safety issue if small children or pets get into them, or if someone else takes them for recreational use. Luckily Saturday, April 27, 2019 from 10am to 2pm is National Prescription Drug Take-Back Day. This is the DEA’s event which provides an opportunity for Americans to prevent drug addiction and overdose deaths. Continue reading
When you consider a long-term care (LTC) insurance policy, do you find yourself thinking any of these things?
- LTC insurance is too expensive.
- I have too many health issues for LTC insurance.
- I was declined for an LTC insurance policy.
- I’m too old for LTC insurance.
- I can’t believe LTC insurance charges more for women.
If you purchase a long-term care insurance (LTCI) policy today, your odds of receiving a rate increase in the future are much less than in year’s past. The American Association for Long-Term Care Insurance (AALTCI) polled close to 80 long-term care (LTC) industry actuaries and found that 79.1% of them believed the likelihood of a future rate increase on presently priced policies was 10% or less. 12.5% of the actuaries believed there was a 20% chance for an increase, 4.2% said 30-40%, and 4.3% said 50% or more. AALTCI Director Jesse Slome said he believes the risk of a future rate increase is zero. Continue reading