What a novel concept! Just kidding! It’s really not. Since the Taxpayer Relief Act of 2012 removed the Class Act from the Patient Protection and Affordable Care Act (Obamacare), several think tanks working on how to fund long-term care for aging baby boomers have all recommended the solution is a combination of public and private
Twenty-seven years ago I received a phone call from my father and still remember the conversation. He had called to tell me that he and my mother had made a very significant investment in my financial future and was eager to tell me about it. As you can imagine, he had my full attention and
We’re often asked what long-term care insurance product we like the best or recommend. Our response is always, “It depends.” We’re not trying to be evasive. It just depends on each client’s health, wealth and financial goals. Currently, there are three long-term care insurance (LTCI) products in the market: standalone or traditional, life insurance based
I just hate these phone calls. They’re heartbreaking. The event has happened. It’s one thing when it’s a client who has long-term care insurance and the plan is in place to fund quality care. That’s bad enough. It’s worse when the call is from someone who has been referred to me and has no insurance
In my work with couples it’s quite common for one spouse/partner to want long-term care insurance and the other to be disinterested. Wanna guess which is which? It’s usually the older, six-foot plus, 300-pound plus guy that is disinterested and the five-foot, 100-pound spouse that is keenly interested. Big guy vows he will never need
In this article for TIME Health, Jeffrey Kluger and Alexandra Sifferlin summarize findings from a number of new studies on aging. While the end of life is nonnegotiable, we certainly can influence longevity and the quality of our remaining years. Here are just two surprises to living longer and better: Don’t be timid. Those with
Have you ever thought much about your morning routine? Probably not. Most of us are on automatic pilot at wakening. Some mornings my little seven-pound Shih Tzu wakes me with a toy in her mouth ready for playtime. But most mornings I get out of bed and walk to the bathroom to empty my bladder.
Every year for the past 20, Broker World magazine has published a survey on long-term care insurance (LTCI). It’s a huge undertaking and provides valuable information for the industry and consumers alike primarily about the standalone insurance marketplace. A few highlights: Two carriers, Mutual of Omaha and Northwestern, remained the top two LTCI carriers accounting
Friends and business colleagues know that my number one fear is dementia. It’s my sister’s, too. And, my brother’s, too. We’ve seen it first-hand. Our sweet mother needed prompting and then hands-on assistance for about 14 years. Dementia consumed every family conversation and gathering Mom died in 2012. We were concerned that dad might die
In his 2019 industry update, Jesse Slome, executive director of the American Association for Long-Term Care Insurance, reported that LTC insurance claims paid in 2018 totaled $10.3 billion. Insurance pays a fraction of LTC costs Sounds like a lot, doesn’t it? Well, it’s not. It’s barely a fraction of the estimated costs. According to a
