Choosing the right long-term care policy to cover your needs

The percentage of people who have purchased life insurance has currently reached a figure that is lower than it has been in half a century, as many people debate whether or not the coverage is worth their money when they are already tightening their belts in an economy that continues to struggle in its recovery. Life insurance differs from standard medical insurance in that it provides coverage for individuals who require assistance with their daily living activities. For example, in the case of a broken shoulder or hip, dementia, or…

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New long term care benefit available to Prudential customers

Prudential Insurance has announced that its long term care coverage products will now include a benefit that offers a program providing personalized, high quality guidance to help them to achieve independent living through a single integrated source. This benefit is known as the Univita Living program, which was created by Univita Health, and is built on a foundation of significant knowledge and research from professionals with significant experience in health and long term care. What the program provides is the ability for families and individuals to locate, coordinate, and manage…

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At what age should consumers purchase long-term care insurance?

Among individuals younger than the age of 50, it is quite common to believe that long-term care insurance is something that they won’t really need until later on in their lives. According to CFP Rich Arzaga, CEO and founder of San Ramon, California-based Cornerstone Wealth Management, the majority of consumers won’t start to inquire about long-term care insurance until about the age of 45. In fact, “it won’t be on their radar”. He said that once they reach the age of 55 or 60, they will begin to talk about…

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Long-Term health care plan axed by the Department of Health and Human Services

Last week, the Obama administration announced that it will be cancelling the long-term care insurance program that would have been created from the Affordable Care Act. The program, known as Community Living Assistance Services and Supports (CLASS), would have brought aid to those suffering from chronic illness and disability, was determined to be a detriment to the overall economic health of the nation, leading Kathleen Sebelius, secretary of the Department of Health and Human Services, to discontinue the program. Opponents of the Affordable Care Act claim this as a major…

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Department of Health and Human Services casts a wary eye at CLASS

The U.S. Department of Health and Human Services is currently reviewing a new report concerning the longevity of the Community Living Assistance Services and Support (CLASS) program. The long-term care program has generated controversy lately after the resignation of the program’s administrator and staff. As of now, the program will not receive any federal money in 2012. CLASS is designed to provide insurance coverage for those needing long-term care. The future of the program is currently in jeopardy but the HHS is not inclined to solve any of its problems…

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