who needs long term care insurance Archives

Long term care insurance to take some pressure from Medicaid and Medicare

April 19, 2013April 30, 2013

These expenses could start to threaten these healthcare programs if the coverage doesn’t take off. The latest reports about the number of people who are purchasing long term care insurance are revealing that if this trend continues, it could end up leading to a considerable amount of strain on the Medicaid and Medicare programs than they have faced in the past. Many parts of the country see expenses greater than $100,000 per person for these services. As this level of cost can rapidly deplete a family’s finances, it can rapidly…

Long term care insurance prices are soaring

October 26, 2012April 30, 2013

The cost of coverage for nursing home fees is up by double digits this year. The price associated with covering oneself against the cost of a nursing home or other similar forms of assistance service is skyrocketing, as long term care insurance premiums rise by 6 to 17 percent this year. The amount of the increase depends on the type of coverage that is purchased. This data is from the American Association for Long Term Care Insurance. Many insurers in this sector are finding that they are losing money and…

Long term care insurance remains greatly misunderstood

July 29, 2012July 27, 2012 Julie Campbell

A survey shows many consumers still have many misconceptions about coverage. The annual Cost of Care Survey results have been released by Genworth and have shown that long term care insurance remains misunderstood and many people in California still don’t know how to obtain the best policy for the lowest cost. The price of medical services has spiked significantly over the past five years. This has made it vital that residents of the state protect their financial futures against potential unexpected medical costs. In order to do this properly, individuals…