Planning for Long-Term Care in America

Study Finds Affluent Far More Likely to Purchase Long-Term Care Insurance - ElderLawAnswers Articles

Survey finds clients earning more than $100,000 per year are twice as likely to purchase long-term care insurance.  Story includes a link to the original research.

Study Finds Affluent Far More Likely to Purchase Long-Term Care Insurance - ElderLawAnswers Articles.

LTCI Partners' Monthly Poll - April 2011

BACKGROUND: On March 23, 2010, the health care reform bill, now known as the Patient Protection and Affordable Care Act, was signed into law. This Act contains Community Living Assistance Services and Supports (CLASS) provisions which create a voluntary, tax-qualified long-term care assistance program, administered by the federal government. The new program is raising public awareness about long-term care, but is also generating many questions among consumers and employers.

Please comment below for possible publication in next month's newsletter.

House Budget leader Ryan touts "Roadmap" to Medicare and Medicaid Reform to help balance budget

After years of being a back-burner issue, entitlement reform is now front page news. Medicare and Medicaid are both on unsustainable paths and must be reformed and/or modified.  The President's Fiscal commission discussed cost savings in the programs without making very specific recommendations.

 

Now, Paul Ryan, the young Republican House budget leader has come with a more specific proposal.

For Medicare, he would phase out the public program and ultimately create something similar to the Health Care Reform legislation - letting consumers choose among private Medicare Insurers through exchanges by giving Americans a set dollar amount (via tax credits) to buy care. For the Medicaid long-term care and disability plan, there is a proposed Block Grant to each state so they can use the money in the way that works with their state best.

 

Critics are concerned with the increased out of pocket costs that many people may have and the fact medical professionals may face lower payment rates which may lead to rationed care.

Here is proposal website  http://www.roadmap.republicans.budget.house.gov/

 

Also, here is an article from McKnight's long-term care news.

House Budget leader Ryan touts Medicare reform in 2012 proposal - McKnight's Long Term Care News.

What to you think about the proposal? How will it affect LTC? Please comment below!

5 Reasons You Need a Long-Term Care Plan - The Best Life (usnews.com)

U.S. News and World Report Article on Long-term Care Planning.  It provides some basic "bullet points" related to the reasons people need to plan.  One of the concerns with the article is that fact it lists reasons for "older people" to get serious, when the issue should be considered by most of those 40+.  Any reasons missing here?  Comment below:

5 Reasons You Need a Long-Term Care Plan - The Best Life (usnews.com).

LTCI Partners Among Top Growing LTC Insurance Agencies in 2010

Most LTC Insurance is purchased through financial advisors and agents, and backing those agents are General Agencies who work closely with insurance carriers. These "GA's" support help individual and corporate clients secure coverage, and provide marketing and sales support.

LTCI Partners, the organization behind the Planning For LTC in America Blog, were the fastest growing General Agency in the largest category of organizations.  See the Press Release from the AALTCI below...                

 

Contact:  Jesse Slome, Executive Director, American Association for Long-Term Care Insurance

              (818) 597-3227    E-mail:  jslome@aaltci.org    

 

Top Long-Term Care Insurance Agencies Recognized

Five of the nation's leading long-term care insurance agencies have been recognized for their significant achievements marketing and selling long-term care insurance protection.

Presentations of the 2011 Long-Term Care Insurance Agency Achievement Awards were presented earlier this week by the American Association for Long-Term Care Insurance.  Awards were presented at the 2011 National LTCi Summit.  The industry's leading sales and marketing conference was held this week in Las Vegas and attended by 550 of the nation's leading producers, agencies and insurers.

"There are several hundred small, medium and large agencies who provide enormous training, marketing and sales support to tens of thousands of insurance producers," explains Jesse Slome, AALTCI's executive director.  "The nation's agencies and their staffs are the unsung heroes of this industry, and most deserving of recognition for their efforts." 

Five categories were established so that agencies of all sizes would be recognized.  "The awards are presented to the agency that reported the greatest growth in paid long-term care insurance sales over the prior year," Slome adds. 

 

Category 1:      2010 LTC Insurance Sales Under $500,000

Capitol Metro Financial Services, Columbia, Maryland - 93% Increase in paid LTC insurance sales

Category 2:      2010 LTC Insurance Sales Between $1 Million & $2.5 Million

LTC Benefits Group, Inc., Omaha, Nebraska - 55% Increase in paid LTC insurance sales 

Category 3:      2010 LTC Insurance Sales Between $2.5 Million & $5 Million

Individual Commercial Brokerage Inc., Rockaway, New Jersey - 34% Increase in paid LTC insurance sales

Category 4:      2010 LTC Insurance Sales Between $5 Million & $ 10 Million

MasterCare Solutions, Inc., Portland,  Oregon - 26% Increase in paid LTC insurance sales

Category 5:      2010 LTC Insurance Sales Over $10 Million

LTCI Partners, LLC, Lake Forest, Illinois - 32.5% Increase in paid LTC insurance sales 

 

Established in 1998, the American Association for Long-Term Care Insurance is the national association serving insurance and financial professionals who provide long-term care financing solutions.

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Boomers Can't Afford Another Market Downturn: Transamerica's Paulsen - Financial Planning

This article, geared for financial advisors, discusses the fact that boomers can't count on traditional long-term investing rules of thumb for retirement - or for paying for long-term care.  There is too much at stake to not have some protection.

Boomers Can't Afford Another Market Downturn: Transamerica's Paulsen - Financial Planning.

Can you afford to care for your elderly loved ones? | PoconoRecord.com

Excellent article about the costs caregivers incur.

Can you afford to care for your elderly loved ones? | PoconoRecord.com.

Long-Term Care: Crisis Brewing - Financial Planning

Article in Financial Planning about how Advisors can address LTC needs with clients.

Long-Term Care: Crisis Brewing - Financial Planning.