The high cost of long term care is rarely planned for

senior medicare cost of long term care insurance

While planning for retirement, few people plan for the potential need for nursing home care. The cost of long term care has become one of the largest expenses faced during retirement. At the same time, only a small minority of people actually plan for this eventual need. By the time a person reaches the age of 65, their chances of needing a nursing home at some point are about 50-50 at the moment. These types of annual cost are very high and most people haven’t factored it into their savings.…

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National Alzheimer’s Disease Awareness month draws attention to long term care insurance

long term care insurance

It also complements the fact that it November is National Caregiver Month, a celebration of over 15 million Americans. November is the time of the year which most effectively underscores the importance of long term care insurance as it is both National Alzheimer’s Disease Awareness month and National Caregiver month. This is a time in which to learn more about dementia and thank those who care for individuals affected by it. At the start of this month, President Barack Obama released a statement that recognized National Alzheimer’s Disease Awareness month,…

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Long term care insurance prices raise concerns

senior medicare cost of long term care insurance

Insurance commissioners in nearly every state are alarmed as they have nearly no authority to stop these skyrocketing rates. Across the country, state authorities are finding that the price of long term care insurance coverage is heading sky high at an increasingly rapid rate, and at the moment, they don’t have much in terms of power when it comes to actually controlling this issue. Regardless of claim history or health status, insurance premiums are rising at a staggering pace. It is not unheard of – or even uncommon – for…

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Long term care insurance premiums allowed to rise 75 percent in Texas

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Regulators in the state have given permission for the increase to stand, frustrating some consumers. The Texas Department of Insurance is taking fierce criticism from two families regarding the 75 percent increase that was allowed to stand for premiums being paid for long term care insurance coverage in the state. The question that they has raised is whether the department is on the side of the customer or the insurance industry. They have also asked about the true power of the agency and whether it actually has the power to…

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Long term care insurance coverage costs continue their climb

Long-Term Care Insurance

The price tag for these often vital policies are ever on the rise and show no sign of slowing down. For many people, the type of coverage that is provided by long term care insurance is an absolute necessity, because if they reach the point that they are no longer able to perform their own daily living activities – such as dressing, bathing, grooming, and preparing their own meals – they would not have the financial ability to pay for the assistance that they would require. Among those without coverage,…

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Long term care insurance discounts and costs vary more widely

Long Term Care Insurance Planning

A recent analysis has revealed that choosing the proper insurer can make a vast difference in the expense. A recent analysis has determined that there are considerable price differences offered among the leading long term care insurance companies in the United States, and that this knowledge could either save or cost consumers hundreds of dollars on an annual basis. This sector of the industry is in a state of flux, which is causing insurers to use different approaches to setting prices. According to the American Association for Long Term Care…

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Long term care insurance changes coming to New Jersey

Long Term Care Insurance

This could mean that consumers – particularly women – will be paying considerably higher premiums. According to the latest information from New Jersey, it appears that consumers should start to prepare themselves for some considerably higher long term care insurance premiums before the second half of this year. This will be especially true for women, who could also find their policy provisions more restrictive. Consumers are also being cautioned that this could happen at any time without any warning. The long term care insurance industry is blaming the historically low…

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Long term care insurance will still be more expensive for some women

Long Term Care insurance

Though federal laws don’t allow gender biased premiums calculations, basic daily tasks can still be expensive. Although the federal law that will go into effect next year has stated that gender cannot be factored in to premiums calculations for health coverage, that regulation doesn’t take into account the basic daily life tasks that are covered by long term care insurance. The Affordable Care Act will prohibit insurers from charging women more than men for the same policy. Unfortunately, this law does not cover long term care insurance. This means that…

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Long term care insurance hikes on the way for thousands

Long Term Care Insurance

Many consumers may soon discover that they will be paying more for their coverage. Thousands of consumers are beginning to discover that there are considerable increases to long term care insurance rates that are being implemented at the moment and that are scheduled for the near future. Many are afraid that this may make the coverage cost prohibitive and are afraid they may have to cancel. The long term care insurance industry has already been facing challenges in terms of its costs and in keeping its policyholders. Now, even many…

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The costliest states for long term care services

Long Term Care insurance Costs

Genworth Financial has released a study regarding the most expensive places for assistance. A study by Genworth Financial Inc. has identified the states in which long term care insurance is most important due to the highest costs of services for the sick and the elderly. It found that Massachusetts has the highest price tags in the country for these services. Residents of the Bay State face the greatest expense for services designed for caring for the elderly and the unwell. At the same time, according to the study, the people…

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