Long Term Care Insurance Protection - Voted #1 by NY Post

You have insured your homes, your health, your cars, even your lives. You have carefully planned your savings and your investments, but all of those plans could be exhausted if you or your spouse needed Long-Term Care! By Kurt Lauman
By: Kurt Lauman a Long Term Care Insurance Specialist
Jan. 3, 2012 - PRLog -- You have insured your homes, your health, your cars, even your lives.  What about your families retirement?  You have carefully planned your savings and your investments, but all of those plans could be exhausted if you or your spouse needed Long-Term Care!

Chances are greater than 73% that each of us will require extended care at home or in a nursing home.  A recent survey stated 1 out of 5 Americans over the age of 50 and 7 out of 10 over the age of 65 are at risk of needing Long-Term Care services during the next 12 months.  At average cost ranging from $72,000 - $120,000 or more a year for room and board plus drugs and care-related supplies, it doesn't take long to wipe out a family's assets.  And more importantly long term care costs are expected to triple in the next 20-25 years and quadruple in the next 30 years.  The odds are much higher that home care will be needed more than nursing home care since 85% of Long Term Care occurs at home or in a community retirement setting.

Long Term Care is the greatest health expense Americans of the age of 45 will face.  This is true because it is the only major health care expense that is not fully covered by Medicare, Medicare Supplements, conventional group or individual health insurance, including HMO's.  And, surprisingly, 40% of those receiving Long Term Care are working-age adults between the ages of 18-64 due to accidents, strokes, brain injuries or tumors, mental conditions, AIDS, mutiple sclerosis, muscular dystrophy, ect., even early onset Dementia or Alzeheimers.  Still don't think it can happen to you or a spouse - look around as far as your family or next door neighbors and you will find someone who has emotionally and financially exhausted everything to pay for Long Term Care.

Medicare only provides short-term recovery benefits for skilled care in a nursing home following a hospitalization and pays nothing for 8-hour shifts at your home.  Medicare Supplements and other private health insurance policies, including HMO's, just provide short-term recovery benefits - to verfiy this fact just visit a local Medicaid Nursing Home Facility and ask all the Medicaid Patients what is covered!  Most Logn Term Care is custodial nature and is not covered, except by the Medicaid welfare program.  To qualify for Medicaid, you must spend  most of your assets and then its not a guarentee that you will qualify as a "ward" of the state.  Unfortunately, many nursing home have dropped out of the Medicaid program leaving long waiting lists adn limited choices for those remaining, and legislation serverely restricts transferring assets to qualify for Medicaid, call the 10 year look back period.

Long Term Care Insurance is the private enterprise system's solution to this serious problem that threatens the financial security of Millions of Americans.  This form of insurance provides benefits for all levels of care provided by home health care agencies, assisted living facilities, adult day care centers and nursing homes.  

Welcome to the world of long-term care - As the bills for the skilled nursing care and medical equipment begin to pile up, and the expanded world you were part of begins to shrink, claustrophobia sets in and you first experience the "dark moment": the moment you realize that your very survival exacts a heavy toll on those you love the most; a moment that your own mortality becomes negotiable. It becomes crystal clear: the longer you live in this condition, the more your family will suffer psychologically, emotionally and financially. Now your feelings of helplessness turn to despair and panic -- like a person who is slowly being pulled into a piece of farm machinery; the outcome inevitable, but powerless to intervene.  It's this experience to the reasons why millions of Americans are turning to long term care insurance and providing themselves and familys with a financial solution if they develop a disability or chronic illness.

The policies are "age-related" and health underwritten.  So, the earlier one purchases a LTCi policy, the lower the premiums and the better chance they will qualify for a policy.  Another reason for getting coverage at an ealier age is, once a health issue is diagnosed, you may not be able to qualify for coverage.  My average clients are between the ages of 45 to 65 – it certainly is never too soon to be looking at this type of coverage.  Some people can’t get long term care insurance – they put it off too late and can’t get it because of a decline in their health.  At the least - KNOW YOUR OPTIONS BEFORE IT IS TOO LATE!

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You have found one of the single best sources of information on long term care insurance. We are a licensed independent insurance agency that specializes in Long Term Care Insurance. Our mission is to provide you with excellent service, helpful advice and useful resources nationwide. Find out more about Long Term Care insurance from Kurt Lauman a Long Term Care Insurance Specialist & Partner with LTC Financial Partners, LLC. (LTCFP) *Be sure to visit website for FREE Online Long Term Care Insurance Quotes from the America’s “Top” LTC Insurance Carriers & Official LTCI eGuide “Dignity For Life!”
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