Long Term Care Soon to Be Added on Employee Benefits?

How would you like it if you learn that long term care may be the next big thing in your employee benefits?


We are all familiar about the staggering costs of long term care insurance but the fact that there is a possibility for you to make it a fruit of your hard-work makes it something to look forward to.


LTC Financial Partners LLC (LTCFP) announced an agreement with EraNova Institute to send out to selected employee benefit brokers, human resource managers, and heads of business and non-profit organizations a special report discussing the probability of long term care insurance as an employee benefit.


According to news, there will be two available benefits: group LTCI and voluntary multi-life LTCI. Both types look promising.

Read more here: http://www.sacbee.com/2012/05/23/4510306/millions-in-workplaces-may-get.html#storylink=cpy

The question now is whether this report can encourage employers and influence them in saying "YES!" to this possibility.  If this happens, employees can look forward to long term care protection.  


So Do You Really Need Long Term Care?  Well you might in the future.  It will be good to know that you have benefits to use for LTC services. 


Let's all just pray for the best.




Sources:
http://www.sacbee.com/2012/05/23/4510306/millions-in-workplaces-may-get.html
http://www.seattlepi.com/business/press-releases/article/Long-Term-Care-Insurance-May-Be-the-Next-Big-3583910.php

Read more here: http://www.sacbee.com/2012/05/23/4510306/millions-in-workplaces-may-get.html#storylink=cpy

Price Differences of Long Term Care Costs By State

We may now be aware that the LTC rates are quite high and not all individuals could afford getting one even if they know the many advantages that they could enjoy from owning it. And even if they realize this, some are still distracted on the expensive monthly premiums that they have to pay. But sometimes, they tend to forget that there are still other means on how they could get favorable rates from their insurance providers and maybe one of the aspects that they should focus on is the long term care insurance costs  by state.

This might not ring a bell or may even be vague for some but the fact still remains that the costs and rates of LTC services and facilities vary by state. There are some areas in the country that offer or provide more expensive LTC costs than the others.

This is the reason why most insurance providers, when trying to generate long term care quote for a certain individual, ask the LTC plan applicants to inform them of the exact state, location or area that he prefers to receive and use his policy benefits. This is needed in order to come up or obtain more appropriate quotations for the potential insurance owner.

But the public must not think that just because a particular state offer lower LTC costs means that the facilities are of poor quality. Just for the record, all accredited, authorized, and licensed assisted living facilities and nursing homes that are currently operating in the country provide high quality of services, regardless if their costs are cheaper than the rest of the other states.

The long term care costs by state are determined by several factors that is why it is best for an individual to know and be informed of the latest costs of nursing homes in the area where he plans to stay while using his LTC policy benefits.

As of the present day, the state of Alaska has the highest and most expensive LTC costs among all the states in the country. A private room in a nursing home facility in Alaska would cost around $230,000 to $232,000 per year while an individual who would stay in Connecticut to receive his policy benefits would have to pay for at least $145,000 every year for the same facility mentioned previously. Other states that have higher LTC costs include Hawaii, Massachusetts, and New York.

On the other hand, those who will use their LTC plan benefits in the states of Arkansas, Iowa, Kansas, Missouri, and Oklahoma would just have to pay an average of $55,000 to $65,000 a year for a private room in a nursing facility every year. The LTC costs of the states that were not mentioned in this article would probably amount to $80,000 to $150,000 for the same nursing home accommodations.

Knowing the long term care insurance costs by state would definitely help an individual decide on his LTC plan purchase. Careful evaluation and planning are needed so that he can make full use of all the potential perks that his insurance plan could give him. Ask for some more details and assistance from your insurance provider. Get in touch with them now and discuss the LTC policies that suit you.  You can also visit LongTermCare.Gov for additional information

Long Term Care Costs by State

Long term care costs differ in each state.  You might think that the costs in a bigger state may be more expensive than the smaller one.  However, that's not always the case.  The daily rate of nursing homes in Colorado can go way up to $267 a day, while in Texas, where it is more populated, the highest rate would only be at $257.  When you're looking for a care setting try to ask for long term care insurance quotes in various states specially if you have budget constraints for your specialized care.

Here's a comprehensive data on long term care costs by state.

More on the cost of long term care insurance: The Staggering Costs of Long Term Care Insurance

Long Term Care Industry Continues to See Growth

The long term care industry had seen remarkable growth in the past 5 years.  This is according to a recent news article from Marketwire.  The revenues of nursing homes, assisted living facilities, and home care agencies had experienced a 5.5% growth between 2006 and 2011.

Could this mean that more Americans are now seeing the importance of preparing early and the possibility of needing premium health care in the future?

Based from the news, the growth in the industry is also influenced by the increasing elder population, however, these health agencies can expect challenges and difficulties when it comes to their customers ability to pay.  Kalorama's research also stated that the lack of changes or developments in federal long term care benefits brought by budget deficits may cut some Medicaid funding, therefore this can be another reason for people to turn into private insurance for their needs.  Seems like the Government Not Ready for Increasing Long Term Care Needs

With the expansion of the industry, people are also provided with more health care options.  Before choosing a care setting or buying a long term care insurance, be sure to check out other choices and weigh first their pros and cons.

Before Buying Long Term Care Plans

1. Know your needs.
- Since long term care plan is expensive, know if it is really the health insurance that can answer your health needs

2. Research
- Find out everything you want to know about long term care insurance.  Right down your questions and find the right answers from the right people or resources

3. Meet the reliable carriers
- Deal only with trusted and reputable insurance companies

4. Get long term care quotes
- To have an idea about the cost of LTC services, get free quotes.

Check this out for a Quick Guide on Long Term Care Costs by State

Choosing from America's Best Nursing Homes

Annually, the US News Health rates, ranks, and recognizes the best nursing homes around the country.  This is based on the inspection and ratings by Centers for Medicare and Medicaid Services.  These facilities need to pass qualifications on health inspections, nurse staffing, and quality of care in order to receive high marks and make it to the honor roll.


For those considering nursing homes for their long term care setting, you can be more confident and have a peace of mind if you select a nursing home from this list.  This is because only the top facilities with excellent ratings and topnotch services are included in this so you can be sure that you can make a good choice for your premium health care.


Connecticut looks like a promising location for long term care, as four nursing homes from the state made it in the 2011 honor list.  Here is the complete list: Best Nursing Homes US News Honor Roll


Start planning for tomorrow's care, get long term care quotes as early as today.  Decide in which part of the country would you like to stay to receive your specialized extended care and begin gathering information on long term care costs by state.

Do You Really Need Long Term Care

Long term care (LTC) services can really be costly.  That is why, you have to ask yourself first if you really need this type of insurance.  Here are some ways to assess your needs.

Looking at Medical and Personal Needs

LTC services are comprised of both medical and custodial care.  This specialized care is actually designed to cater to patients who were inflicted with a chronic disease, disabling condition or serious injury and accident, thus giving them difficulty in performing activities of daily living (ADLs).  Included in these ADL's are bathing, feeding, clothing, transporting, etc.

Given these special conditions, family members must analyze if these needs can be covered by a long term care insurance. Can an LTC policy help them in paying for care?

The next thing to ask is where can the patient's needs be best provided.  In here, families will choose the care setting where they will take in their loved ones.  Again, be sure to assess if a nursing home, an assisted living facility, or home care will best work for the extended care.  The daily or monthly rates of these care providers can really be costly so be sure to choose one that you can really afford.

Moreover, there are other resources that can assess your patient's needs such as his physician or a care specialist.  As for other matters concerning LTC insurance, you can seek advice from lawyers or financial advisers, as an addition to what agents can tell  you.  If you are interested in getting long term care insurance quotes, most insurance companies have websites that give free quotes online.