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With recent news on healthcare, it isn’t a surprise more people are now aware that health insurance does not pay for most long-term care services. Neither does Medicare and Medicare Supplements beyond the 100 days of skilled care it will pay for. The fact is a majority of long-term care is custodial and health insurance, Medicare and Medicare Supplements will not pay for any long-term custodial care at all. This means you will fund the costs of such care or your family will be forced to be caregivers.

The American Association for Long-Term Care Insurance, a national consumer education and advocacy group, the number of consumers requesting information and costs for long-term care insurance increased nearly 39 percent for the first six months of 2017 compared to the prior year.

"This is a significant increase and an indication of enormous growing interest among consumers in the importance of long term care planning," states Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).

Slome attributes the double-digit increase in interest to a good economy among aging Baby Boomers and a growing realization that government programs and medical insurance do not cover much of the cost associated with long-term care.

"This is a good trend because everything begins with awareness and interest," Slome noted.

Slome says a significant percentage of those requesting information are already in poor health. He says they mistakenly believe they can obtain long-term care insurance after their health is poor. People need long-term care services due to illness, accidents or the impact of aging.

"Unfortunately, they cannot health qualify for insurance offered by private carriers.  In certain states, they may be able to get a short-term care insurance policy and we are seeing growth in sales of these policies where available," Slome noted.

“I’ve seen a big increase in interest as well as traffic to my website and calls coming into the office from all over the country has increased substantially not just in the past six months but really in the past three years,” said Matt McCann, a nationally known long-term care expert.

McCann says he can often find affordable coverage but it helps to start planning before you retire.He notes working with a specialist will help a consumer find the appropriate coverage based on their age and health.

These policies pay benefits for all types of extended care either at home, adult daycare, assisted living, memory care and nursing home care.

The AALTCI says while the average age of new applicants for long-term care insurance continues to decline, a significant percentage of people requesting information have aged-out of their ability to obtain coverage.

"Today the average age for new policies issued is 55,” said Slome.

“These policies are very affordable when design correctly. You just have to sit down and learn your options, ideally before you retire when you enjoy better health and qualify for discounts and the most affordable options,” McCann noted.

Experts also note that many people are not aware that most states have partnership plans available which provide additional asset protection when you have a qualified long-term care policy. Plus, the AALTCI also noted more people are taking advantage of tax incentives which are available.


Posted: July 18th 2017

New research, presented at a recent conference in London, looks at how stress and dementia are related. Just one stressful event early on in life could cause the brain to age by as much as four years, scientists say, as this fresh research points to such stress contributing to the risk of dementia. Rates of stress were found to be 60% higher among African Americans and these events predicted cognitive abilities even more than traditional risk factors such as age, education and genetics.

Read full article here: http://www.cityam.com/268505/stressful-life-events-could-linked-alzheimers-and-dementia?utm_source=dlvr.it&utm_medium=dvTwitter

As we age, no matter what our racial or financial background might be, an advance plan for the financial costs and burdens of aging should be part of your retirement planning. Affordable Long-Term Care Insurance will provide the tax-free resources for quality caregivers, either at home or in a facility, without wiping out your hard-earned savings. In addition, LTC insurance will reduce the burdens placed on family members when you will need help with activities of daily living or supervision due to memory loss from the many types of dementia we may suffer from in the future. Often, this burden falls on the lap of a daughter or daughter-in-law when no advance plan exists.

Experts suggest you start shopping for long-term care insurance before you retire so you can take advantage of the most affordable options and discounts.


Posted: July 17th 2017

Most people understand that aging has become a problem. Yes, increased lifespan creates additional health issues and financial issues and should be addressed and planned for in advance. With longevity comes the increased risk of dementia. 47.5 million people across the world are living with dementia. It’s a global epidemic that costs 604 billion US dollars each year. Alzheimer’s  is the one most people are aware of, however, there are eight other forms of dementia which impact humans as we age. Plus, sometimes we face memory loss at younger ages as well.

The costs for supervision and other long-term care created by dementia places a tremendous physical, emotional and financial burden on American families.

Read about the other types of dementia: http://dailycaring.com/8-forms-of-dementia-you-might-not-know-about-infographic/

This is why addressing the financial costs and burdens of aging as part of your retirement plan – before you retire – is key to a successful future retirement. Affordable Long-Term Care Insurance will protect your savings including your 401(k) IRA 403(b) and other assets from the high costs of extended care.

People need long-term care due to illnesses, accidents or the impact of aging. Memory loss is a major reason why many people require care. LTC insurance will also ease the burdens placed on family members due to the consequences of long-term care. Often, these burdens fall on daughters and daughters-in-law.

Experts suggest reviewing your Long-Term Care Insurance options before you retire as premiums and availability are based on age, health and the benefits you want. Most states have partnership plans available which provide additional dollar-for-dollar asset protection. Plus, some states have tax incentives as well. Federal tax breaks are available to some people including the self-employed.

Posted: July 14th 2017

More and more people are addressing the financial costs and burdens of aging. They understand how these costs will impact their future retirement savings and lifestyle. The people with Long-Term Care Insurance are already seeing big benefits as they are now receiving care and getting claims paid for by the insurance companies that have sold these plans since the 1970’s.

People have been buying LTC insurance in big numbers since the 1990’s. According to the American Association for Long Term Care Insurance, in 2016, the industry paid nearly $24,000,000 a day in claims which is $8.65 billion annually. Those numbers are expected to increase substantially in the next 10 to 15 years as policy holders continue to age.

Read story here: http://www.mysuburbanlife.com/sponsored/articles/2017/07/13/78603900/index.xml

Long-Term Care will impact you, your family, your savings and your lifestyle. Affordable LTC insurance will safeguard your 401(k) IRA 403(b) and other assets from the high costs of long-term care. These plans not only pay big benefits but will help provide peace-of-mind as it eases the burdens placed on family members due to the consequences of extended care. Experts suggest acting before you retire for the most affordable options.


Posted: July 13th 2017