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Great article from Morningstar by Christine Benz about making a sound decision about whether to opt for long-term care insurance, which involves weighing the probabilities. Is it worth it to pay the premiums for many years--and risk premium increases or benefit cutbacks along the way--in exchange for the peace of mind that your nest egg won't be wiped out to pay for your care at the end of your life? To read more click on the link below.

https://www.morningstar.com/articles/564139/40-mustknow-statistics-about-longterm-care.html

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

This web page has been intentionally deleted!

First, what is a hybrid long term care policy? A hybrid policy can be a combination of life insurance (or an annuity) and long term care coverage all in one policy.  

Some of the main bullet points when combining Life and Long Term Care coverage (Hybrid type policy):

• One reason that Hybrid's may appeal to many folks is that their premiums are locked in and won’t increase. With a Hybrid type policy, you can rest assured that you will have level premiums throughout your entire policy, with no increases.
  
  
• Hybrid policies pays for Long Term Care if you need it, a death if you don’t need it, or both if you only need a limited amount of care. However with traditional Long Term Care insurance, many people feel like it is a “use it” or “lose it” situation. If you paid premiums for decades, and you never had to use the long term care benefits, then finally you passed away your loved ones would not have anything to show for for all that money you invested in that traditional Long Term Care policy over the years. However with a Hybrid Life Insurance / Long Term Care insurance policy any Long Term Care coverage not used remains in a death benefit pool, so you don’t "lose it!" For example, if you have a $250,000 death benefit and only use $50,000 for Long Term Care, the remaining $200,000 goes to your beneficiaries as a tax free death benefit when the insured passes away.
  
  
• Benefit period can be lifetime! (Rather than just a set small number of years in a traditional long term care insurance policy.)
  
  
• Some Hybrid policies allow you the option to cover “both” spouses in the same policy.
  
  
• Hybrid policies are ineligible for Long Term Care Partnership Program (Medicaid Asset Protection).
  
  
• Generally Hybrid Insurance premiums are higher than traditional Long Term Care Insurance. However the reason is because you have a death benefit and you can also have more flexibility, such as some Hybrid policies let you cancel and get all your premium money back later on down the road if you no longer want to keep the policy!
  
  
• Hybrid policy generally don’t allow for an inflation option in the original policy, but can have that inflation option in lifetime rider. (Which is not the same.)

Some of the main bullet points for Traditional Long Term Care Insurance:

• Pays for Long Term Care if you need it (and qualify for it.)
  
  
• Premiums are subject to increase with approval from your state’s insurance commissioner.
  
  
• Shorter Benefit periods, usually limited to maximum of 5 years.
  
  
• Traditional Long Term Care insurance policies are eligible for the Long Term Care Partnership Program (Medicaid Asset Protection).
  
  
• Generally traditional Long Term Care Insurance initial premiums are lower than Hybrid policies for the same amount of coverage.
  
  
• If you don’t use the Long Term Care insurance, you lose the premiums you paid in over the years. (Similar to a home owner’s policy, if you never had a claim.) There is no death benefit to your survivors such as there is with a Hybrid type policy.

To read one of my related blog posts, click on web link below.

Long Term Care Insurance - Hybrid Advantages

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

As you grow closer to retirement, the decision how to pay for potential long term care expenses should be a focus for most people. Long term care can be paid with a combination of personal or family savings, long term care insurance, and/or government assistance for those that qualify due to low incomes/assets. A major misconception is that many people (incorrectly) believe that Medicare will provide long term care. However, Medicare generally does not cover long term care. Medicare will only provide 100 days of nursing home care after a three day stay in a hospital. Medicaid will pay for long term care after most of your assets have been depleted, but Medicaid is usually limited to nursing home care.

I came across two interesting Long Term Care articles that I thought I’d share. 

The first one is a "Health Affairs Blog" article by Lee-Lee Prina entitled: Do Americans Understand Long-Term Care?

Below are a couple excerpts from the article:

The survey looks at older Americans’ understanding of long-term care, what they know or do not know about the cost and likelihood of needing long-term care services, and “their attitudes and behaviors” about planning ahead for possible care needs, according to a press release.

Experts estimate that 70 percent of Americans who get to age sixty-five will need some type of long-term care, “and our findings show that many Americans are unprepared for this reality,” commented Trevor Tompson, who directs the AP-NORC Center, in the release.

Source was: http://healthaffairs.org/blog/2015/07/16/do-americans-understand-long-term-care/
No longer working web link.

The second article is from the Portland Press Herald by Matthew Craft entitled: Cost of long term care beyond reach for middle class elderly. Mentions some examples of the costs associated with long term care. One example was how things didn’t end so well in one case without Long Term Care insurance and then another example of how things did work out well in a different case by planning ahead by purchasing Long Term Care Insurance and also being creative with her solution.

Below is an excerpt from the article:

How do people manage the widening gap between their savings and the high cost of caring for the elderly? Medicare doesn’t cover long-term stays, so a large swath of elderly people end up on the government’s health insurance program for the poor, Medicaid. For those in the middle class, however, the answer isn’t so simple. They have too much money to apply for Medicaid but not enough to cover the typical three years of care.

To read the full article, click on the link below:

http://www.pressherald.com/2015/07/21/cost-of-long-term-care-beyond-reach-for-middle-class-elderly/

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

I read an article from the Washington Post written by Michelle Andrews in our local Herald Tribune newspaper that really emphasized that you should not sign an arbitration agreement at a nursing home. Since such an agreement can really limit your rights and cost you a lot more if you ever have the occasion where you need to file a lawsuit for negligence or wrongful death. It further mentions that signing an arbitration agreement is not a condition of admission to a nursing facility. Click on link below to read more.

http://health.heraldtribune.com/2012/09/25/dont-forfeit-right-to-sue-a-nursing-home/

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

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I read an informative AARP bulletin article by Ellen Stark and thought I’d share it. Below are some of bullet point ideas mentioned in the article.¹

1. Traditional Long Term Care Insurance Policies recently have had fewer sales.
Premium increases over the years and fewer insurance carriers still selling traditional long term care policies are among some of the reasons for the decline in the number of new policy sales.

2. Maybe you might not need insurance, but you still DO actually need a plan!
Long Term Care insurance polices can be expensive, which puts coverage out of the reach for many. There are specific individual factors that come into play for each individual situation when making a decision on whether or not to purchase long term care insurance. One choice doesn’t fit everybody the same. You do need to plan ahead regardless. Whether you are planning on buying a long term policy now to help safeguard your retirement savings or if you plan to take on a high risk method by trying to save a lot more money starting now until your older age, to potentially cover likely future expensive Long Term Care expenses on your own. Now is the time to decide to either start putting additional savings away for the future Long Term Care expenses or simply purchase a Long Term Care insurance policy to put the risk on the insurance company’s side.

3. There is a relatively new type of insurance that is called a hybrid type policy.
A newer concept that has been taking off in way of increased sales are hybrid whole life insurance policies that the insured can draw from to pay for Long Term Care expenses. Although more expensive than traditional Long Term Care Insurance, there are several advantages. Such as: premiums never increase, you don’t have a traditional Long Term Care insurance situation where you “Use it or Lose it!” Meaning with a hybrid policy you can use it for Long Term Care expenses, or if the insured passes away then the beneficiaries receive the death benefit, and with many hybrid policies if you decide you want to terminate your policy later on down the road if you never used it, depending the specific policy, you can get back all (or most) of your money that you spent on premiums! Also as an added bonus, generally with a hybrid policy you are more likely to get approved, since underwriting is generally more lenient than a traditional Long Term Care policy.

       Click on these 2 web links below for related blog posts on this topic: 

• Long Term Care Insurance - Hybrid Advantages
• Brief Comparison of Hybrid vs. Traditional Long Term Care Insurance

4. Traditional stand alone Long Term Care insurance policies are initially less expensive.
However if you want a lower cost effective Long Term Care coverage with less choices, than a traditional Long Term Care insurance policy may be your choice. Keep in mind if you never use the coverage, you don’t have the option of getting any of your money back spent on premiums over the years with this type traditional Long Term Care policy. Also premiums can increase over the years, they are not lock in at a level premium amount, like with a Hybrid policy. Lastly, unlike a Hybrid policy there isn’t any death benefit with a traditional Long Term Care policy if you happen to pass way before using any coverage.

5. Buying a Long Term Care Insurance policy in your 50’s or 60’s can save you a lot!
It is best to start looking in your 50's or early 60's, before premiums increase sharply or you get denied (or at the very best get approved with increased premiums) due to deteriorating health as you get older. Each year you delay purchasing Long Term Care Insurance, it will be more expensive, that is if you can even still get approved! Initial premiums at age 65, for example, are approximately 8 to 10 percent higher than those for new customers who are 64.

As for where to shop, seek out an independent agent who sells policies from multiple companies rather than a single insurer. I am an independent agent, so no need to go any further! I can shop around for you to find the type policy you feel suits you the best.

Click on web link below to read the entire article:

https://www.aarp.org/caregiving/financial-legal/info-2018/long-term-care-insurance-fd.html

1. Source: March 2018 AARP Bulletin.

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

I thought I’d share this informative MarketWatch article by Kari Paul regarding how much elder care costs in different states. Where you live has a big impact on how much you will pay. The article includes a graph showing the monthly estimated costs for each of the states. I like how the article spelled out the very basics.

Below are some excerpts from the article:

• "The most expensive option for elder care is a nursing home, followed by a full-time in home health care aide and then assisted living facilities. (Nursing homes provide more comprehensive care than assisted living facilities, where residents are supposed to be able to perform most basic daily living tasks themselves.) The least expensive elder care option in the U.S. is day care, where the elderly attend a center to receive care but keep living in their own homes.
  
  
• The 65-and-over population in the U.S. is expected to nearly double over the next 30 years to 88 million from 48 million by 2050. The U.S. senior care market is also expected to have increase by more than 36% to $436.6 billion by 2018 from from $320 billion in 2013, a report from market research company BCC Research found.
  
  
• Cost is not the only challenge for elder care. Baby boomers had fewer children than previous generations, according to a study from Center for Retirement Research (CRR) at Boston College, which means they have fewer children to act as care givers. Current generations are also more likely to live far away from their parents, making it more likely people will opt to pay formal care providers to help with aging parents.
  
  
• As the need for elder care rises, the number of people opting for long-term care insurance is rising. Long term care accounts for 6% of Medicaid enrollees and 40% of Medicaid spending, according to a report from the Medicaid and CHIP Payment and Access Commission (MACPAC), a non-partisan policy agency.”¹ 

To read the entire article, please click on the web link below:

https://www.marketwatch.com/story/heres-how-much-elder-care-costs-in-your-state-2017-06-26

Source: MarketWatch article, dated June 26, 2017, by Kari Paul. Located at:
http://www.marketwatch.com/story/heres-how-much-elder-care-costs-in-your-state-2017-06-26

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

In this brief WSJ article by Glenn Ruffenach, it mentions some the discouraging news and things to be aware of when choosing a Long Term Care Insurance policy. Although what he didn't mention in the article is that there are some creative alternatives for traditional Long Term Care insurance that many people don't know about or bother to research. Some of the newer combo type life insurance policies can include Long Term Care Riders that provide a "fixed" premium that cannot increase throughout the entire policy, unlike traditional Long Term Care Insurance which can increase, and most likely will increase your premium payments over time. With this combo type policy, some optional policy riders can include inflation protection. Some combo type policies also allow you the option to cover “both” spouses in the same policy. The policy premiums can even be paid monthly or annually. (In other words, they do not have to be a "one-pay" premium for the entire policy premium in advance.) Some policy types can even guarantee to allow you to get all your premium money you paid into the policy returned to you at a later time down the road, if you decide you don't want the policy any longer. The gist is that the combo policy covers you while you are living, has a death benefit if you die for the people most important to you, and sometimes even allows you can get all your premium money paid into the policy back, if you choose not to continue the policy at a later date. So in other words, you don't have to lose all your money paid into the policy, like you would with a traditional Long Term Care Insurance Policy, if you never get to use the Long Term Care benefits!

http://blogs.marketwatch.com/encore/2013/03/11/how-to-choose-long-term-care-coverage/tab/print/

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

I read a MarketWatch article by Bill Bischoff regarding Long Term Care Insurance and thought I’d share the information.

Below are quick bullet points on what the article covers:

• First part of article explains how Long Term Care Insurance works.
• When you should sign up for Long Term Care Insurance? 
  (Hint: When you are still young and healthy is the best time.) "The premiums are based on your age and health factors at the time you enroll. Enrolling at age 65 could cost twice as much or more than enrolling at age 55. Your overall health status needs to be good when you apply for coverage or you won’t be accepted at any age. After you obtain coverage, it will remain in force - regardless of changes in health and advancing age - as long as you pay the premiums.”¹
• The 3rd part of article goes on to explain whether Long Term Care Insurance benefits are tax free.
• The last part of the article explains whether you can deduct LTC insurance premiums?  

Click the web link below to read the entire article:

https://www.marketwatch.com/story/how-to-protect-your-savings-if-you-or-a-family-member-requires-long-term-care-2019-08-12

1. Source: MarketWatch article by Bill Bischoff 
https://www.marketwatch.com/story/how-to-protect-your-savings-if-you-or-a-family-member-requires-long-term-care-2019-08-12

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

• Many people incorrectly think or assume that Medicare will cover their Long Term Care needs. However Medicare does NOT cover Long Term Care. The Affordable Care Act does NOT cover Long Term Care either. While state Medicaid programs do cover long-term care, these benefits are available only to those with very low income.
  
  
• Although Medicare may cover acute illnesses that require doctors’ visits and hospital stays, people are often unprepared to meet the expenses of long term chronic illness that are not covered by Medicare. These expenses can pose one of the greatest threats to their personal wealth. 
  
  
• People are living longer nowadays, which is wonderful on one hand. However, the longer people live, the more likely there are to need long term care such as: long term care nursing homes, assisted living facilities, or in-home care providers.
  
  
• 70% of people age 65 and over will need long-term care during their lifetime!
  Women, because of their longer life spans, are 50% more likely than men to enter a nursing home at some point after age 65.
  
  
• One big myth about Long Term Care is that it affects senior citizens only. However the need for Long Term Care can happen at any age. Nearly 40% of people using Long Term Care services are under the age of 65! Strokes, diabetes, car accidents, ladder falls, and other chronic conditions are just some of the major causes that require Long Term Care among younger populations.
  
  
• Long Term Care is expensive, especially without planning ahead with some sort of Long Term Care coverage! (When difficult decisions have to be made about healthcare, family members may also not be fully apprised of what someone’s wishes are under those circumstances. Addressing all of these issues ahead of time not only provides financial protection, it can also eliminate unnecessary emotional burdens.)
  
  
• Many people are concerned that traditional long term care insurance policies are a “use it or lose it” type of insurance because they often assume money invested in premiums will be forever lost if they do not need long term care. Another big concern of many people is that their long term care insurance premiums will increase in the future. However, new types of long term care policies can eliminate “use it or lose it,” and also keep premiums level throughout their entire policy term. By combining life and long term care insurance, these hybrid policies provide coverage for long term care. However if that coverage isn’t ever needed, then the policyowner can get some or all of his or her premium back or provide protection for family members with life insurance.

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Traditional Long Term Care Insurance (LTCI) policies are often paid for on a monthly or annual basis, with premiums continuing for the duration of your lifetime (some offer single premium options). On the other hand, a long term care annuity (LTCA) is deemed 'fully funded' once the initial premium has been paid. There are no ongoing premiums or required payments.

Most traditional long term care insurance (LTCI) policies do not offer you a cash withdrawal benefit, or benefits in the event that you don't require long term care during your lifetime. A long term care annuity (LTCA) may allow you to access cash value during your lifetime, even if you never require care. In addition, when the annuity contract matures, your contract's remaining cash value may be passed onto your named beneficiaries.

Long term care insurance requires underwriting, which can be limiting if you have a pre-existing condition. Most long term care annuities do not require traditional underwriting and therefore could be a viable option if you would possibly be turned down for traditional long term care insurance.

Qualified benefits paid by both long term care insurance policies and long term care annuities are received on a tax-free basis to the contract/policy owner.

Long term care insurance and long term care annuities both offer benefits worth consideration. If you are seeking a simple, tax-advantaged method of providing some long term care coverage, an annuity may be the most viable option.¹

1. Source: Courtesy of Insurance Associate Group April 2017 Newsletter 

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

While many Long Term Care traditional insurance policies offer initial lower premiums, there are several reasons to consider Hybrid (or combo) policies. Hybrid (or combo) policies are creative alternatives for traditional Long Term Care insurance that many people don't know about or don’t bother to research. 

1. One reason that Hybrid's may appeal to many folks is that their premiums are locked in and won’t increase. Whereas with a traditional Long Term Care insurance policy, the premiums are NOT locked in. Meaning that your traditional Long Term Care insurance policy premiums may increase significantly (and have done so in the past!) For example, in the past they have typically increased approximately 35% to 50% every 5 to 7 years! However with a Hybrid type policy, you can rest assured that you will have level premiums throughout your entire policy, with no increases.
   
   
2. With traditional Long Term Care insurance, many people feel like it is a “use it” or “lose it” situation. If you paid premiums for decades, and you never had to use the long term care benefits, finally you passed away, then your loved ones would not have anything to show for for all that money you invested in that traditional Long Term Care policy over the years. However with a Hybrid Life Insurance / Long Term Care insurance policy any Long Term Care coverage not used remains in a death benefit pool, so you don’t "lose it!" For example, if you have a $250,000 death benefit and only use $50,000 for Long Term Care, the remaining $200,000 goes to your beneficiaries as a tax free death benefit when the insured passes away.
   
   
3. Long Term Care payments can go to the proposed insured and not directly to the caregiver. Some insurance carriers offer indemnity, rather than reimbursement. Basically this means that if a family member or even a friend is providing you care, you can pay them directly rather than the insurance company paying a nursing home, or traditional caregiver directly.
   
   
4. There can be an inflation protection built into the policy.  If an individual uses a permanent product with an Long Term Care or a Chronic Illness Rider, an increasing death benefit option can be provided, which then also provides additional long term care coverage. If you don't use that option for additional LTC coverage, it may lead to a larger death benefit or cash value in the case you want to surrender the policy.
   
   
5. Some Hybrid policies allow you the option to cover “both” spouses in the same policy.
   
   
6. Some Hybrid policy types can even guarantee to allow you to get all your premium money you paid into the policy returned to you at a later time down the road, if you decide you don't want the policy any longer.
   
   

The gist is that a Hybrid policy covers you while you are living with Long Term Care coverage, has a death benefit if you die for the people most important to you, and sometimes even allows you can get all your premium money paid into the policy back, if you choose not to continue the policy at a later date. So in other words, with a Hybrid policy you have extra options and you don't have to lose all your money paid into the policy if you never get to use the Long Term Care benefits, like you would with a traditional Long Term Care Insurance Policy!

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Long Term Care Insurance - Video Testimonial For OneAmerica

Click here to view video    Then press the triangle symbol to play!

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Below are some common myths about Long Term Care and what the actual facts are versus the myths:

Myth #1: I can save the money I’ll need for Long Term Care (LTC) services.¹

Fact: Anyone who’s had this thought should stop to consider two crucial questions:
How will I save up the money? More important, Why?¹

Long Term Care services are very expensive. The growing costs for care present a huge financial risk to older adults’ retirement dollars. Those who plan to take on the burden of LTC expenses for themselves and/or a spouse or other loved one could wipe out their lifetime savings much faster than they expect.¹

Consider the facts:

• The average cost in 2010 for a one-year stay in a private nursing home room is $83,580.¹

• Of all Americans age 65 and up today, 1-in-5 will require LTC services for five years or more.¹

• At today’s average cost, a couple with $500,000 in assets would deplete their savings in just a few short years paying for LTC services.¹

Myth #2: A government program such as Medicaid or Medicare will take care of me?

Most people incorrectly think Medicare will pay for Long Term Care services. In reality, Medicare does not generally cover long term care. Medicare pays for skilled care in a nursing home only for short periods (only up to 100 days) during which you are recuperating following a hospital stay for a related condition.

Also government programs are difficult to qualify for, and they have very specific requirements for Long Term Care services. Medicare, Medicaid and veterans’ services may help pay for some Long Term Care services but only in specific circumstances. However each program has specific rules that define which services are covered, when benefits are paid, who can qualify, and the actual dollar amounts people must pay out of pocket. Medicaid pays for long term care only for people with very low assets and limited income. 

When people do qualify for Medicaid and receive benefits for their Long Term Care costs, there’s a snag. Federal law requires that states recover the money Medicaid spent on their behalf, from their estate after they pass away. Probate law dictates what the states will include in estates, but typically it includes real and personal property, such as a home. This could force a person’s spouse to sell their home, or Medicaid could put a lien on the house in the amount of Long Term Care expenditures.

It is also very important to remember that government programs are limited by availability and financial resources.

Myth #3: My family will take care of me

Home Care is one of the fastest growing industries for these reasons:
Families are working and living further away from their parents than ever before. Not only that, but many adult children are in the sandwich generation that may have a young child and a parent they are taking care of. This additional care can create a burden to the family members since it is a large undertaking causing stress as well as creating a large financial cost if they stay home. So it is very important to keep in mind that caring for a family member can be a huge financial and emotional burden on your loved ones when deciding not to purchase Long Term Care Insurance for yourself and/or your spouse.

You may want to ask yourself these type questions:

Will my children be willing to clean up after me all the time?
Will my children be willing to help bathe me?
Will my children be willing to clean up after I have an explosion outside the bathroom? 

These are real type scenarios that can and do happen every day, so they need to be considered while planning for your future care needs. 

Myth #4 My spouse and I are too young to need Long Term Care services.

Facts: Nearly 40% of people using Long Term Care services are under the age of 65!
Strokes, diabetes, car accidents, ladder falls, and other chronic conditions are just some of the major causes that require Long Term Care among younger populations.

Among adults age 65 and older, about 70% will need some kind of help with the basic activities of daily living for weeks, months or even years as they age. 

You should purchase your long term care insurance policy when you are young and healthy to receive the lowest premiums.

Myth #5: I don’t need a separate Long Term Care Insurance policy because I already have health insurance!

Most people incorrectly believe that they have coverage for Long Term Care expenses.

Long Term Care Insurance is not the same as health insurance, which is designed simply to cover the costs to cure individuals and return them to good health.

Private health insurance and Medicare may cover skilled nursing, short-term care, and medically necessary care, but they won't cover custodial or personal care services, and those services represent a significant proportion of long-term care expenses. Private health insurance and Medicare won't pay for assisted living, continuing care in retirement communities, or adult day services.

Health insurance is intended to help pay for medical care only, but Long Term Care Insurance benefits help support potentially costly Long Term Care services, which can include Activities of Daily Living (ADL’s) such as: bathing, eating, getting dressed, moving around, etc. Long Term Care services are generally required by those who are dealing with chronic illnesses, accidents, Alzheimer’s disease, etc. that require the level of needed care that can continue to grow over time. 

Myth #6: I can’t afford Long Term Care Insurance!¹

Fact: The cost for LTC protection can fit nearly anyone’s budget and financial goals. LTC protection may seem expensive, but not having it can be much costlier to individuals and families. LTC costs can quickly deplete a person’s hard-earned life savings.¹

LTC protection may seem expensive, but not having it can actually be much costlier to individuals and families.¹

Myth #7: I won't need Long Term Care services.

Strokes, diabetes, car accidents, ladder falls, Cancer, Alzheimer's disease, arthritis, and other chronic conditions are just some of the major causes that require Long Term Care, and because these life altering conditions tend to occur later in life, many people who are in their 60's underestimate the likelihood that they'll eventually need a long term helping hand. In addition, when you consider that people are living longer on average, the chance of needing Long Term Care is likely to increase in the future.

That assumption, however, is sadly incorrect. According to the U.S. Department of Health and Human Services, 70% of people turning 65 this year will require Long Term Care in the future. 

Contact me at (941) 404-5334 to set up an appointment to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

1. Source: OneAmerica State Life Insurance Company
https://www.oneamerica.com/campaigns/ltc-myths/ltc-myths-files/file-myth-ltc-brochure

Thought I’d share an interesting Hearld-Tribune article by Barbara Peters Smith regarding assisted living facilities and their rent increases. That part of the contract may often be overlooked in the fine print when transitioning into an assisted living facility.

The article states that the assisted living facilities can raise the monthly rental fee as much as they like, as often as they like, and the only thing that Florida law requires is that they give a 30 notice, in writing. The articles goes on to mention that even though assisted living facilities are regulated by the Florida Agency for Health Care Administration, they don’t get any where near the scrutiny that nursing homes do, nor do they play by the same rules. 

Additionally, the article states that AHCA does have this advice on its website:
"Check the contract to see if the rate is guaranteed, for how long, and under what conditions a contract or residency agreement can be changed or ended. If you are given a verbal guarantee, be sure to get it in writing."

Click on link below to read entire article:

http://health.heraldtribune.com/2016/06/24/at-many-elder-facilities-no-such-thing-as-rent-control/

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

I discovered several informative AARP articles regarding nursing home information that you don’t want to miss. To be helpful, I thought I’d share their web links.

• What You Need to Know About Nursing Homes
  
  
  
• Are Nursing Homes Ready for the Next Natural Disaster?
  
  
  
• Inspect a Nursing Home Like a Pro
  
  
  
• Learn the Lingo of Assisted Care
  
  
  
• How to Research a Nursing Home
  

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

A different approach to Long Term Care that many might not know about is Private Home Care, where the atmosphere can be more personalized and less regimented. Also they can be a whole lot less expensive than a nursing home or assisted living facility. However, be sure to check out the actual Private Care Home before making any decisions as they are the only type of Long Term Care residence for elders that are not regulated by the state. The homeowners can not host more than two elders at a time, and do not have to meet the rigorous requirements that apply to group home and assisted living facilities. So as they say "buyer be beware," but in this case “renter" seems to fit better. 

Along with less expensive costs, also comes along the potential for abuse which can increase since their isn’t really any state government oversight. Just like any major decision do your research upfront first. It may be a good fit if the Private Care Home is a clean, well cared property, along with thoughtful, kind, courteous, conscientious, honest, and experienced caregivers.¹ 

1. Source: Herald-Tribune article by Barbara Peters Smith
Note: below was the original web link to the article, but it is no longer valid.
http://www.heraldtribune.com/article/20140123/ARTICLE/140129809/2416/NEWS?p=all&tc=pgall#gsc.tab=0

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

I watched a very short 2017 Alzheimer Association facts and figures video that I thought was important to share to understand just one aspect of why Long Term Insurance is so imperative to have!

Some quick fact excerpts:¹

• More than 5 million Americans are living with Alzheimer’s
• Alzheimer’s disease is the 6th leading cause of death in the U.S.
• It kills more that breast cancer and prostate cancer COMBINED!
• 1 in 3 Seniors dies with Alzheimer’s or another Dementia.
• More than 15 million Americans provide unpaid care for people with Alzheimer’s or other Dementias.
• In 2016 these caregivers provided an estimated 18.2 Billion hours of care valued at over $230 Billion!
• In 2017, Alzheimer’s and other Dementias will cost the nation $259 Billion!
• By 2050, These costs could rise as high as $1.1 Trillion!

Click on web link below to watch this video (less than 2 minutes!)

https://www.youtube.com/watch?v=aLsVS0lrRD0

Click on web link below to go directly to Alzheimer web site for facts:

https://alz.org/facts/

Click below for:

PDF document fact sheet you can download

Contact me at (941) 404-5334 to discuss your long term care options and/or get you started on the right track of getting yourself insured.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

1. Source: 2017 Alzheimer Association facts and figures video located at:
 https://www.youtube.com/watch?v=aLsVS0lrRD0