Tag: long term care insurance premiums

Long term care insurance tax deduction limits are on their way up

Nordstrom
Long Term Care Insurance

The IRS has increased these limitations to help LTC customers afford their policies. The director of the American Association for Long Term Care Insurance, Jesse Slome, has announced that the IRS has now increased their tax deduction limits on this form of coverage. The Internal Revenue Service announced the start of this change for policies purchased in 2013. According to Slome, “For taxable years beginning in 2013, the limitations have been increased,” adding that “Tax advantaged long-term care insurance remains one of the few remaining significant tax-savings benefits especially meaningful…

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Long term care insurance rates are on the rise

Julie Campbell
Health insurance plan

Prices are increasing for new policies in both individual and group plans. Experts in the coverage industry are now saying that the price of a long term care insurance policy is currently on the way up. The risk is that it may cause them to become cost prohibitive for the middle class The price increases for new policies of long term care insurance aren’t climbing only in individual coverage, but many group policies are also on the rise. In fact, when compared to five years ago, there has been an…

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Long term care purchased at the right time can bring discounts

Building Insurance Costs

A recent study shows that policies bought before retiring are more affordable. New long term care insurance research is showing that almost 40 percent of the survey’s respondents made payments of less than $1,499 per year, helping to dispel the myth that this coverage must be expensive. There are many ways to save on this type of policy in order to make it more affordable. According to the American Association for Long Term Care Insurance executive director, Jesse Slome, “One of the biggest misconceptions is that long term care insurance…

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The price of long-term care insurance coverage is on the rise

H. Cutner

As the Baby Boomer generation comes to the cusp of the discovery that long-term care insurance may be a wise step to cover potential upcoming needs, the insurance industry has found that this sector of its marketplace is withering, the price of its policies is skyrocketing, and the available coverage is being changed by the insurers. Long-term care insurance is the coverage that has been designed to provide payments for the medical services that are not usually covered by standard health insurance, for example: in-home care, nursing homes, and assisted…

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Employees may qualify for long-term care more easily through employers

Julie Campbell

LTC Financial Partners LLC. – one of the leading long-term care insurance companies in the United States – has released a statement to Americans in the hopes of assisting them to more easily obtain long-term care insurance and at a better rate simply by asking their employers about it. According to the senior vice president of business development for the insurer, Dan Cahn, by asking their employers about this coverage “could save you time, paperwork, and money — even if your workplace has no group LTC benefit in force.” The…

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John Hancock Financial raises rates on long-term care, sees backlash from consumers

S.Vagus

John Hancock Financial, one of Colorado’s largest insurance companies, recently raised rates for long-term care coverage significantly. Some consumers saw increases as high as 90%, while other saw increases of half that number. The rate hikes have sparked the ire of consumers who say that these new rates are excessive. The state’s Department of Insurance is not being inundated with complaints concerning the matter, though regulators claim that the rates are somewhat justified. Long-term care insurance provides coverage for those that must take advantage of nursing homes or various types…

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John Hancock announces re-entry into individual long-term care insurance in California

John Hancock has announced that it will be resuming its place as a part of the California individual long-term care insurance marketplace, starting on February 27, 2012, through both its Custom Care III (non-Partnership) and its new California Partnership policy. These two policies will provide comprehensive long-term care coverage for all circumstances, such as assisted living facilities, nursing homes, adult day-care centers, and at home, and will also provide the policyholder with care planning and care giving support. The president of John Hancock long-term care insurance, Marianne Harrison, expressed the…

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