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LONG-TERM CARE INSURANCE As Americans become more cognizant of long-term care expenses, they inevitably inquire about long-term care insurance (LTCi).  What is it, and how does it address my concerns and future needs?  Many people also want to know how expensive it will be, and will the insurance company pay all necessary claims at the time of need. Do Statistics Lie? The statistics do not lie.  More Americans are aging in the home, and do not want to receive care in a facility until absolutely necessary.  Unfortunately, surveys indicate that most people have not prepared for long-term care expenses.  Most people do not realize how expensive care can be, and how little, if any, assistance the government will offer to offset the expenses.  Simply put, many Americans are depleting their hard-earned savings to pay for long-term care expenses that can be paid for with private insurance.  Medicare and Medicaid will NOT be enough. An additional problem is that Americans falsely believe that Medicare or Medicaid will pay for long-term care expenses when the time of need arrives in the future.  Medicare does not pay for any long-term care expenses, and eligibility for Medicaid involves “spending down” to the level of poverty.  These options are just not viable for middle and upper income individuals, who value freedom of choice, quality of care and preservation of assets. Choose the Care You Need Unlike government programs, private LTCi provides individuals with the ability to choose the type of care that he or she wants.  The a-la-carte options are practically limitless, with numerous benefit and payment options available.  When evaluating long-term care plans, you should consider the following important factors: Carrier’s financial rating. Carrier’s experience in the LTCi marketplace. Carrier’s premium increase history. Carrier’s commitment to actively marketing LTCi. Carrier’s plan design flexibilities. Carrier’s overall reputation in the insurance marketplace. If you are interested in obtaining additional information about LTCi, and would like to get more specific information pertaining to cost and plan design, please visit our partner, Benefit Resources Group, by clicking on the logo below So You have Decided to Buy? (Click Here) .

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