#1 Easy Long-Term Care Insurance: Real Stories of Finding Coverage When Others Said “No”
Many people assume that qualifying for long-term care insurance is difficult, stressful, or only possible for those in excellent health. Thankfully, that’s no longer true. A new generation of simplified-issue policies now makes it easier than ever for...
Indemnity vs Reimbursement in LTCi
Consumers looking for long-term care insurance (LTCi) may ask about the differences between indemnity vs reimbursement plans. This is a valid question, as there are key factors making them separately unique. Deciding to purchase an indemnity or reimbursement plan...
When Should You Buy a Life / LTC Hybrid Policy?
Instead of using traditional long-term care insurance policies, a LTC hybrid policy offers more opportunities to those who have a bad health history – as many who do are more likely to be declined. There are other factors too, which we will review in this article....
12 Reasons Long-Term Care Insurance is a SCAM!
Asking yourself if long-term care insurance is a scam isn’t a dumb question, as many people from all walks of life may suspect that. Over the decades, many important changes were made to protect the consumer against unfair insurer decisions or other potential issues...
Short-Term Long-term Care Insurance
Short-term long-term care insurance might seem like an oxymoron. How can an insurance product designed to help you pay for long-term care costs look like short-term care insurance? Here are three characteristics of short-term long-term care insurance: Shorter benefit...
What is True Long-Term Care Insurance?
True long-term care insurance isn’t typically sold by ‘financial advisors’ or insurance agents, as most of them sell life insurance. How can you know?
Improvements to Long-Term Care Insurance
Traditional long-term care insurance is the oldest and most common form of long-term care insurance. Of the 7,111,139 long-term care policies in-force (as of December 2021), 6,311,826 are traditional long-term care insurance policies....
What Are Long-Term Care Partnership Policies?
Long-term care partnership policies are just like traditional long-term care insurance, except there is one additional benefit: A long-term care partnership policy can protect your assets from Medicaid, even if your policy runs out of benefits. With a long-term care...
3 Types of Life Insurance Hybrids That Pays for Long-Term Care
What are the different types of life insurance hybrids? There are hundreds of policies that include some kind of rider that can help pay for “long-term care” expenses. These might be great for life insurance purposes, but they may not be a good way to plan for...
What is a “Recovery Policy”?
Finding out what a recovery policy is requires some background information. In most states, these policies are called “Limited Benefit Convalescent Care.” That’s not an appealing name for an insurance policy. Sometimes, these policies are mislabeled as “short-term...
Part 8: New York Times article on long-term care insurance – Long-term care insurance is risky
New York Times article on long-term care insurance - Long-term care insurance is risky Why would the New York Times article on long-term care insurance say that long-term care insurance is risky when over 95% of the long-term care insurance policies sold today...
Part 7: New York Times article on long-term care insurance – “Yugo is proof the auto industry is in decline!”
New York Times article on long-term care insurance - "Yugo is proof the auto industry is in decline!" Does that make any sense? Of course not. That’s absurd. Yugo’s failure is not a blight on the auto industry. But that’s what the NY Times is implying. They...
Part 6: What the New York Times article on long-term care insurance got VERY wrong!
What the New York Times article on long-term care insurance got VERY wrong! The policyholder who paid $120,000 in premiums did NOT pay $120,000 in premiums. Here’s how I know: A typical policy bought in the early/mid 1990’s had an $80 per day benefit amount....
Part 5: Four things the New York Times article on long-term care insurance got right
Four things the New York Times article on long-term care insurance got right That’s 100% true. Long-term care insurance is NOT for “most people”. At least 50% of retirees do NOT need long-term care insurance because they can qualify for Medicaid-funded long-term...
Part 4: “Savvy Consumers? More half-truths in the New York Times article on long-term care insurance
Savvy Consumers? More half-truths in the New York Times article on long-term care insurance “The private insurance market has proved wildly inadequate in providing financial security for most of the millions of older Americans who might need home health aides,...
Part 3: “Half-right”: Two things the New York Times article on long-term care insurance almost got right.
“Half-right”: Two things the New York Times article on long-term care insurance almost got right The New York Times article on long-term care insurance states: “By 2020, sales of traditional policies had dropped to 49,000 and the number of carriers offering...
Part 2: Three Things the New York Times Long-Term Care Insurance Article Omitted
Three Things the New York Times Long-Term Care Insurance Article Omitted Long-term care insurance policies sold before 1993 were TERRIBLE! Newer LTCi policies have different pricing rules than the older LTCi policies 41 States have affordable long-term care insurance...
New York Times Article About Long-Term Care Insurance: Part 1
Every few years, there’s a New York Times article about long-term care insurance. Most New York Times articles about long-term care insurance have had a negative bent. For example, in 2015 the New York Times headline bemoaned: “Long-Term Care Insurance Can Baffle with...
Is There a California Long-Term Care Tax?
I recently spoke with a woman in California who wants her husband to buy long-term care insurance. I asked, “What prompted you to look into long-term care insurance.” She replied, “The California Long-Term Care Tax”. I explained to her that California has not yet...
NY LTC Trust Act improves on WA LTC Trust Act
New York Long-Term Care Trust Act improves on Washington Long-Term Care Trust Act A bill in the New York Senate has proposed a new long-term care benefit program similar to the program enacted by the state of Washington. The Washington Long-Term Care Trust Act had...
Washington Long-Term Care Trust Act Still Law
The Washington Long-Term Care Trust Act (otherwise known as WA Cares) is still an active and enforceable law. WA Cares was first signed into law in 2019 in hopes to stem the rising tide of future long-term care costs in the state of Washington. With Medicaid being the...
Federal Judge Upholds Washington Cares Fund
A federal judge, on Monday, upheld the right of the state of Washington to continue the Washington Cares Fund (also known as the Washington Long-Term Care Trust Act or Long-Term Services and Supports Trust Program). Last November, a lawsuit was filed to stop the WA...
Major Changes to Washington State’s Long-Term Care Program
In 2019, Washington became the first state in the country to create a government-run long-term care insurance program. The program, newly labeled the “WA Cares Fund,” will be financed through a payroll deduction of 58 cents for every $100 of earned wages....
How can I opt out of the Washington Cares Fund?
There are 5 steps you have to take in order to opt out (and stay out) of the Washington Cares Fund payroll deduction.If you don’t yet own long-term care insurance, I have good news. There are still 3 excellent companies selling long-term care insurance in the state of...
Washington LTC Trust Act Opt-Out
Washington LTC Trust Act Opt-Out - Are exclusions allowed? The State of Washington passed the Long-Term Care Trust Act on July 28, 2019 in hopes of reducing the Medicaid budget.What is it? It is a payroll tax: $.58 for every $100 earnings or.58% or gross earnings....
Is the state of Washington Long-Term Care Trust Act universal long-term care?
UPDATE: The Washington Long-Term Care Trust Act was passed today, April 16th, in the Washington state senate. It will now proceed to the governor's desk and be signed into law.Washington state is very close to enacting the first, taxpayer-supported, long-term care...
Washington Long-Term Care Trust Act
As an insurance agent who specializes in long-term care insurance, I support the Washington Long-Term Care Trust Act. 1. By providing a year of modest benefits ($100 per day for 365 days) the Washington Long-Term Care Trust Act will delay the need for Medicaid. By...
100% False – “Premiums for New Long-Term Care Insurance Policies Have Soared in Past Year”
Elderlawanswers.com recently published an article entitled, “Premiums for New Long-Term Care Insurance Policies Have Soared in Past Year!” The article starts with this doozy: “Prices of new long-term care insurance policies have suddenly skyrocketed by as much as 66...
5 Tips for Choosing a Long-Term Care Insurance Agent
The National Law Review published a column that states unequivocally that, "An advisor experienced in long-term care is an important part of any advisory team." (You can find a link to the article here.) So how do you choose that "experienced" long-term care...
Self-Insuring for Long-Term Care
Self-insuring for long-term care certainly has it's risks. But exactly how does it compare to affordable long-term care insurance? And which is better?Retirement A: Provides a great income and lifestyle while everything is going well... But if one spouse needs care,...
The Buttigieg Long-Term Care Plan
Today Democratic Presidential candidate, Pete Buttigieg, released his “Dignity and Security in Retirement” plan. The plan reveals new proposals to enhance retirement savings, but it also includes the Buttigieg long-term care plan. Although the Buttigieg long-term care...
Top 10 states for Long-Term Care Insurance Rate Increase Protections
Rate Increases.Rate Increases!Rate Increases!!Rate Increases!!!That’s all you see when you read about long-term care insurance on the internet. It’s true there have been a lot of rate increases on long-term care insurance policies. However, that’s only half the...
Prenuptial Agreement & Long-Term Care Planning
First things first: Pre-nuptial ("pre-nup") agreements do NOT protect a couple's separate assets from Medicaid long-term care spend-down requirements. Pre-nups (or post-nups) are ineffective for Medicaid asset protection because Medicaid ignores them. If...
What are the Types of Long-Term Care Policies Available Today?
There are four main types of long-term care policies that can help you prepare for long-term care. Which type is right for you? The answer to that question probably depends upon who you ask. If you’re talking to an insurance agent, they’ll probably say,...
Is the state of Washington Long-Term Care Trust Act universal long-term care?
UPDATE: The Washington Long-Term Care Trust Act was passed today, April 16th, in the Washington state senate. It will now proceed to the governor's desk and be signed into law.Washington state is very close to enacting the first, taxpayer-supported, long-term care...
Washington Long-Term Care Trust Act
As an insurance agent who specializes in long-term care insurance, I support the Washington Long-Term Care Trust Act. 1. By providing a year of modest benefits ($100 per day for 365 days) the Washington Long-Term Care Trust Act will delay the need for...
Medicare For All Is *NOTHING* Like Medicare
Medicare is one of the most popular programs the federal government has ever created. To capitalize on Medicare’s popularity, proponents of single-payer healthcare are calling their plans “Medicare For All”. The details of the “Medicare For All” plans, however, are...
Pros and Cons of Buying Hybrid Long-Term Care Insurance
Hybrids are the insurance industry's latest attempt at solving one of the biggest concerns facing boomers: long-term care. Due to fears about rate increases, sales of traditional long-term care insurance have stalled. Sellers of life insurance see this as an...
If you decide to buy a “hybrid” make sure it has these features
Excerpt from Scott’s newest book: “The Simple LTC Solution: How to Protect Your Life’s Savings with a Long-Term Care Partnership Program” Fully guaranteed benefits If you are considering buying a hybrid policy, you should only buy a hybrid policy that has: 1. A death...
You May Not Want To Buy Long-Term Care Insurance From Your Investment Advisor
Investment advisors are licensed to sell securities as well as insurance products. However, investment advisors can only offer insurance products that are approved by the investment firm they work for. There are thirteen different companies that sell traditional...
Five Reasons to Buy Long-Term Care Insurance Instead of a “Hybrid”
More benefits for each dollar of premium Federally-mandated consumer protections Protection of assets from Medicaid Tax-deductible premiums AND tax-free benefits Specially-trained insurance professionals Hybrids cost a lot more than long-term care insurance because...
Many “hybrids” have pitfalls that no one is talking about!
Excerpt from Scott’s newest book: “The Simple LTC Solution: How to Protect Your Life’s Savings with a Long-Term Care Partnership Program” Hybrids are “OR” “OR” “OR”, not “AND” “AND” “AND” Hybrid policies are sold as one policy that gives you three different benefits:...
The State of Washington’s Long-Term Care Trust Act is “as good as it gets”
The State of Washington was recently considering legislation to help fund long-term care for some of the state’s residents. The program would be funded through a payroll tax of .49% on all wages. Every employee in the state of Washington will be automatically enrolled...
Simple LTC Solution
How to Protect Your Life’s Savings with a Long-Term Care Partnership Program The insurance industry does not want you to read this book. This book gives you knowledge from an insider. This knowledge will empower you to take simple steps that can protect your life’s...
Reader Beware: Chicago Tribune publishes “half-right” article on LTC insurance
Chicago Tribune writer knows just enough about LTC insurance to be dangerous. The Chicago Tribune recently published an article by Elliot Raphaelson. It’s entitled, Long-term care insurance: Buyer beware, which is why I’ve entitled this post, “Reader Beware!” Below...
Finally Revealed: The Best Age to Purchase a Long-Term Care Policy is…
The Best Age to Purchase a Long-Term Care Policy is… Before revealing the best age to purchase a long-term care insurance policy, I have a different question: Answer: One month before you die. This way, you’d pay a small premium and then your beneficiaries would...
NEVER* Combine Long-Term Care Insurance with Life Insurance
3 Reasons Why Insurance Companies Want You To Buy A Single-Premium “Hybrid” Policy A “hybrid policy” is a life insurance policy that includes long-term care benefits. Most “hybrids” are sold as single-premium products. You don’t pay premiums once a month or once a...
Home care inflation rate only 2.5%
Genworth, the largest long-term care insurance company, just released their 2017 cost of care survey. "Knowing the costs of different types of care - whether the care is provided at home or in a facility - can help you plan for these expenses. The 2017 survey,...
Here’s The Trick to Making Long-Term Care Insurance Claims Easy
There are FIVE reasons that make long-term care insurance claims hard to file. Fortunately, there’s one trick which I have personally used to make the long-term care insurance claims process super easy. Here are the FIVE things that make it hard: The hardest part...
The REAL Reason Long-Term Care Insurance Sales are Dropping
The number of long-term care insurance policies has increased from 4.5 million in the year 2000 to over 7.1 million today. However, sales of new policies have declined 14 of the last 15 years. Last year only 90,000 new long-term care insurance policies were purchased....