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State, National Nursing Home Caregivers: Medicare Funding Cut to …

State, National Nursing Home Caregivers: Medicare Funding Cut to Long Term … Reuters State, National Nursing Home Caregivers: Medicare Funding Cut to Long Term Care Will Jeopardize Vital Staffing Positions, Compromise Care for Maine …

Brookdale buys 21 Sunrise assisted living facilities – McKnight’s …

… Fund Drug Five-Star Quality Rating System Flu H1N1 Healthcare Reform Home- And Community-Based Care Long-Term Care Medicaid Medicare Medication Nursing Home Quality Seniors. Sponsored Links. MCKNIGHT’S LONG TERM CARE NEWS SITEMAP …

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Long Term Care : Long Term Care Insurance: News, Advice, Information, Reviews

Cost of long term care in Colorado estimated

The Federal Long Term Care Insurance Program office has estimated long-term health care costs for self-employed business owners in Colorado. During 2008, the average cost of care for an elderly family member averaged about $20 an hour …

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Long Term Care : News, Advice, Information, Reviews

Long Term Care Insurance Coverage Question Regarding Penn Treaty Liquidation

I am still learning much about the Internet. I recently created a LinkedIn group for long-term care insurance producers and others. There have already been some interesting discussions between the members and I’d encourage you to consider joining.

Once on my LinkedIn page, you want to click on the the group Long-Term Care Insurance Producers. (Look on the lefthand side at the top). You do NOT want the one USA – AALTCI (someone smartly created that group … not me … and thus I can not monitor or make sure it serves what I believe is the intent).

Anyway … there are currently about 101 participants … and some good stuff.
Jesse Slome
American Association for Long-Term Care Insurance

Below is one of the questions and responses that I believe will be of interest.

Question from Kathleen Smith

After the latest news on Penn Treaty, I revisited the AALTCI 2009 Sourcebook article on State Guaranty Associations. I know that LTCi is protected up to $100,000. But, what does that mean to policy holders not on claim? If they have a 5 year/$250,000 policy benefit does their premium remain the same with it being paid to the State? If so, is their premium adjusted to reflect a $100,000 policy benefit rather than a $250,000 benefit pool compounding annually? …

The response which I obtained from Sean McKenna at the National Association which comprises all the State Guaranty Associations.

The new NAIC Guaranty Association Model Act recommends $300,000 for LTC coverage. A number of states either have passed the new model limit or have it under consideration now. In answer to your second question, no, the premiums do not decline.

Long Term Care : News, Advice, Information, Reviews

Long Term Care Community Gathers

Long Term Care Community Gather to Advance Quality Improvements, Call Attention to Proposed Funding Cuts to Senior Care; Caution Additional Medicare Cuts to Skilled Nursing Care Will Harm Seniors’ Care, Place Kansas Nursing Staff Jobs in Jeopardy

Long Term Care Insurance : News, Advice, Information, Reviews

Americans Fail Long Term Care Insurance Planning Quiz

When it comes to knowledge about long-term care insurance planning, Americans once again received a failing grade.

Long-term care poses the single largest risk to Americans living on retirement savings and income according to the American Association for Long-Term Care Insurance, the industry trade group. Yet, few consumers have the facts correct when it comes to understanding available planning options.

As the U.S. population ages, the percentage of people older than 65 will increase from about 13% in 2009 to 20% in 2040. Part of the projected increase is due to an increased life expectancy beyond age 65. After retirement health insurance and Medicare provide very little long-term care benefit, if any, according to financial planning professionals.

The results of a just-released national study of individuals between 40 and 70, most reported knowing what long-term care is and how much it costs. But their scores fall short when it comes to knowing what percentage of people will need long-term care and how they will pay for it. According to the study conducted by the MetLife Mature Market Institute, just about four in ten adults (36%) know that 60-to-70 percent of 65-year-olds will require long-term care services at some point in their lives. Just over one-third knew that most long-term care services are received at home.

While the number of respondents answering correctly (37%) increased since the 2004 survey (18%), awareness is low overall.Few participants in the survey reported that they are taking action to protect themselves from such potentially catastrophic expenses; only 18% know long-term care insurance rates are based on age, but almost nine in ten (87%) are aware that a comprehensive long-term care policy covers home, assisted living and nursing home care.

The survey also reported that eight in ten respondents (85%) understand that long-term care could have many causes, such as Alzheimer’s disease, an accident or a chronic or disabling condition. More than four in ten (43%) are able to correctly identify the national average monthly cost for assisted living.

For more information on long-term care insurance, visit the Association’s Consumer Information Center where you can read the organization’s free guide on reducing the cost of long-term care insurance. Click here to read the guide.

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Long Term Care : News, Advice, Information, Reviews

Long Term Care Insurance News You Never Hear

Increasingly, we get calls from reporters who are doing more in-depth stories about long term care planning and the role of long-term care insurance.

First, it is a great feeling to help them get the portray a correct story since their words, whether written or oral can influence so many prospects and potential buyers. Friday, a national editor who I have worked with before called the American Association for Long-Term Care Insurance’s offices. At this point, I won’t reveal the story being working on but in the ensuing research I did – two pieces of information emerged. They are examples of when long-term care insurers go beyond what is required. You may not be familiar with them.

The first involves Genworth’s new policy being offered to AARP members. The policy offers a 60-day return policy. In simple terms, the consumer can return the policy within 60 days for a refund of monies paid. As most insurance agents know, the standard “free look” required by law is 30 days. Now, it bears stating that the State of Washington just passed a law mandating the 60-day provision. Who knows whether other states will follow.

And, in speaking with a long-time Genworth producer, it was noted that in an effort to provide outstanding customer service the company has not held rigid to the 30-day cut off. But clearly there was someone who thought this was a customer-friendly provision … and agreed to make it available.

The second story involves John Hancock. In recognition of the weak economy, the company allows (or allowed, I am not sure if the practice continues) policyholders who lose their jobs and fail to pay premiums for a certain period of time, to reinstate their policies without the typically-required health underwriting. What a recognition of going the extra mile to help the people who showed the good faith and sense to buy your product.

Having worked with the media for most of my life, every reporter will tell you it is not their job to “shill” for a company. So don’t ever expect to read about these items in the news.

But, in the current environment we are in — and with the news media focusing so much attention on negatives surrounding the insurance industry, it’s good to know there are insurers doing well because they do good. That’s a message the American Association for Long-Term Care Insurance is proud to help convey.

Long Term Care Insurance Insurance News You Never Hear