Tag Archive | long-term care partnership program

“The reports of my death have been greatly exaggerated.”–Mark Twain

For years “experts” have concluded that the long-term care insurance industry is dead.  Here are some of the headlines: “What’s killing the long-term care insurance industry?”  Aug. 2012 “Long-term care insurance begins to fade away”–New York Times, Nov. 2010 “When a Safety Net is Yanked Away–is Long-Term Care Insurance Doomed?”–NYT Nov. 2010 Crumbling Economics Undermines […]

4 Reasons why a 90-day Elimination Period usually makes the most sense

4 Reasons why a 90-day Elimination Period usually makes the most sense: A 30-day Elimination Period usually costs about 20% more than a 90-day Elimination Period.  If you’re going to spend 20% more premium, you would be better off buying 20% more Daily Benefit.  Would you rather have a policy that pays $200 per day […]

How much does long-term care insurance cost?

Here are a few facts which may surprise you: Long-term care insurance is very flexible.  Every long-term care policy gives you many choices for your benefits.  You choose your:  Daily Benefit, Inflation Benefit, Policy Limit, and Elimination Period.  The richer the benefits you choose, the higher your premium.  The more modest the benefits you choose, the […]

Another elder law attorney weighs in on long-term care insurance

Mark Clements, an elder law attorney in Lakeland, Florida, has been practicing elder law for over 30 years.  Here are his thoughts on long-term care insurance: “Having practiced Elder Law for more than thirty years, it becomes more and more apparent to me that our current “needs based” system that provides government benefits to pay […]

Which is better: A Group LTCi policy or an Individually-purchased LTCi policy?

A healthy, married couple can usually get better benefits by purchasing a long-term care policy on their own, rather than buying a group long-term care policy through their employer. Individually-purchased long-term care policies usually offer: Preferred health discounts that save you as much as 25%, and Marital discounts that can save as much as 40%. […]

Who should NOT own long-term care insurance?

A very well-written article was printed in the Times Union paper (and on their website) this past Sunday. The writer interviewed some financial planners and elder law attorneys who specialize in estate planning and Medicaid planning. They answer many of the more common questions related to long-term care planning and long-term care insurance, like: Who […]

Why are the CLASS Act premiums projected to be so much higher than traditional long-term care insurance

Why are the CLASS Act premiums projected to be so much higher than traditional long-term care insurance? The Healthcare Reform bill (PPACA) requires that the CLASS Act program be actuarially sound and not funded by taxes.  All benefits must be paid from the premiums of the participants in the program.  No taxpayer funds will be […]