A long term care specialist and fellow
blogger, Beatrixxx Lewis of http://longtermcaretalk.wordpress.com/
has shared another insightful entry about the importance of early retirement
planning and the perks of comparing long term care quotes.
The Long Term Care Specialist
Thursday, December 6, 2012
Saturday, October 27, 2012
Long Term Care Insurance Costs: Saving on Premiums
In today's guest post, Nann Witt, a long term care (LTC) expert who handles the LTCIGuru channel on Youtube will help our readers know how much should they expect to pay for services and what are the ways to save on premiums.
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Those who are thinking of buying plans should gather resources first on LTC specially long term care costs. It would be better to consult financial experts like financial planners, long term care experts, and insurance agents on the various ways to effectively handle the costs and save on long term care premiums. The LongTermCare.Gov website is also a helpful and useful resource for additional information.
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Long Term Care Insurance Costs: Saving on Premiums
Long term care insurance costs should be
considered before buying an insurance policy. The rates are quite high and not everyone can pay for it. The prices in each state vary greatly. For those who want to save, it is advisable
that you research and compare first. One state may have more expensive
rates than the others.
Additionally, there are other factors that can affect
them. Usually, a long term care quote
form may ask for information such as age, gender, existing health conditions,
exact state, location or area preferred to receive care. All these can affect how much a person will
pay for his future health care.
The cost of LTCI increases annually. Buying a plan early can help one save on his
premiums for about 10 to 12%.
When one is younger, he is likely to be healthier and the chances of
getting underwritten and receiving approval are higher. Delaying purchase may just put more strain on the financial sources of
most families. Buying today can make a significant difference.
There
are other ways to save aside from early purchase. One is getting familiar with
available discounts. Strong body and mind can help a policy buyer avail
of good health discounts. Married
couples and partners are entitled to spousal discounts which can save them
about 15% to 40% annually. There are
also group discounts for those whose employment can make him eligible for
coverage. For those who may not be
entitled to discounts, there is still the Partnership program. Individuals can save on long term care by
protecting their assets from Medicaid’s spend down requirements. Each state has their own rules when it comes
to this program.
Those who are thinking of buying plans should gather resources first on LTC specially long term care costs. It would be better to consult financial experts like financial planners, long term care experts, and insurance agents on the various ways to effectively handle the costs and save on long term care premiums. The LongTermCare.Gov website is also a helpful and useful resource for additional information.
Thursday, October 11, 2012
How to Know If You Need Long Term Care Insurance
A lot of people still lack information on what long term care (LTC) is. Additionally, people often misunderstand the products that provide coverage for specialized custodial care. Below is an informative video that can help you determine if you should buy LTCI.
So, who needs long term care insurance? The answer is below.
So, who needs long term care insurance? The answer is below.
Now that you already know the answer and is already considering of getting a policy, the next thing you might be concerned about is the cost of such policies. Getting free quotes can help you compare and save on prices. Check out free long term care quotes.
Friday, June 29, 2012
What to Consider in Buying Long Term Care Insurance
If you've already answered the question, Is Long Term Care Insurance the Best Option for You?" , you already got a long term care quote, and you're planning to buy long term care insurance, here are four factors which you should consider. These are important specially on your coverage.
1. Maximum daily benefit
amount
This is how much your policy is going to pay out to once you qualify for LTC. To determine the
amount of benefits that would need you have to know the long term care insurance costs in your area. For example, the
average daily cost of LTC in your place is $235 so choose a policy which would pay out a daily benefit amount of $250.
2. Maximum benefit period
This is the length of period that you will receive benefits from your policy. According to LTC experts,
most elderly folks in a nursing home would require three years of care, on
average, before they are moved to home-based care. Others with serious health conditions,
however, would stay up to 10 years. Try to anticipate what type of care will you likely require for this can help you determine your policy’s benefit period.
3. Elimination period
This
refers to the length of time that you will pay for care using your personal
resources. This period should be met to be able to receive your benefits.
Be sure that the benefits in your policy will keep pace with inflation.
Friday, June 22, 2012
Anticipating Future Long Term Care Insurance Costs
Long term care insurance costs increase annually. While the costs are already quite staggering, buying it tomorrow, next month, or next year may put more strain on the nest eggs of most families. This is why most financial experts advise interested buyers to buy LTC plans early.
The cost of this type of insurance is a major factor for consumers. Some would really like to purchase policies but after learning how much they need to shed out for premiums, they are often discouraged. Here's an informative article on How Much Does Long Term Care Insurance Cost Today And In The Future?
Families who are planning to buy LTC plans should gather resources first on long term care to know Is Long Term Care Insurance the Best Option for You?. Similarly, they should also consult financial experts like financial planners, long term care experts, and insurance agents on possible ways they can save on long term care premiums.
The cost of this type of insurance is a major factor for consumers. Some would really like to purchase policies but after learning how much they need to shed out for premiums, they are often discouraged. Here's an informative article on How Much Does Long Term Care Insurance Cost Today And In The Future?
Families who are planning to buy LTC plans should gather resources first on long term care to know Is Long Term Care Insurance the Best Option for You?. Similarly, they should also consult financial experts like financial planners, long term care experts, and insurance agents on possible ways they can save on long term care premiums.
Friday, June 8, 2012
Long Term Care as Employee Benefit
How would you like to have a long term care insurance care of your employer?
As we all know, long term care insurance costs are staggering. Every year, the prices of the services covered and the actual premiums of the insurance shoot up. This is one of the reasons why a lot of people are discouraged to purchase this type of plan. But for those who are working, it may be a good news to know that you may soon find your employer assisting you if you decide to get an LTC plan.
See the complete article here: Find an Employer that Provides Long Term Care
As we all know, long term care insurance costs are staggering. Every year, the prices of the services covered and the actual premiums of the insurance shoot up. This is one of the reasons why a lot of people are discouraged to purchase this type of plan. But for those who are working, it may be a good news to know that you may soon find your employer assisting you if you decide to get an LTC plan.
See the complete article here: Find an Employer that Provides Long Term Care
Friday, June 1, 2012
Assisted Living Costs in Arizona
If you are living in Arizona or just prefer to receive long term care in this state, it is important to familiarize yourself as early as now on what possible care options await you and how much are you likely to spend on it. Getting a long term care quote today is a good idea.
Let's say you are looking at assisted living facilities as care setting. In Genworth's 2011 Cost of Care per State survey, the median annual rate for assisted living facilities based on one bedroom/single occupancy was pegged at $36,000. The range for the annual rates for all state were between $28,000 to $66,000.
On the 2010 survey, the monthly rates for private rooms in assisted living facilities were published by region. Those in Lake Havasu City had to pay higher at $3,450 monthly, as compared to the other regions. The lowest cost was marked to be at Yuma region wherein the rate was $2,813. In the Phoenix-Mesa-Scottsdale region, rate was $3,050.
Rates are expected to rise annually. If you want to be sure that you can receive premium care, you may opt to get a long term care insurance. Know about long term care insurance costs.
Similarly, if you want more information before deciding what care option or setting to choose, you can visit longtermcare.gov for additional resources.
Let's say you are looking at assisted living facilities as care setting. In Genworth's 2011 Cost of Care per State survey, the median annual rate for assisted living facilities based on one bedroom/single occupancy was pegged at $36,000. The range for the annual rates for all state were between $28,000 to $66,000.
On the 2010 survey, the monthly rates for private rooms in assisted living facilities were published by region. Those in Lake Havasu City had to pay higher at $3,450 monthly, as compared to the other regions. The lowest cost was marked to be at Yuma region wherein the rate was $2,813. In the Phoenix-Mesa-Scottsdale region, rate was $3,050.
Rates are expected to rise annually. If you want to be sure that you can receive premium care, you may opt to get a long term care insurance. Know about long term care insurance costs.
Similarly, if you want more information before deciding what care option or setting to choose, you can visit longtermcare.gov for additional resources.
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