Seventy percent of people will need long-term care during their lifetime, and it’s catastrophically expensive! If you like to plan in advance, you may have considered long-term care (LTC) insurance as an option, and if you work … [Read more...]
Why Did the OPM Suspend Its Long-Term Care Insurance Program for Two Years?
Are Changes on the Horizon for Long-Term Care Insurance?
As we get older, many of us will need long-term care. In fact, the statistic hasn’t changed — 70% of Americans 65 and over will need some type of long-term care in their lifetime. This could mean a nursing home stay, home … [Read more...]
What to Do When Long-Term Care Insurance Premiums are Skyrocketing
Q. Last week my friend, Patty, received notice of a substantial increase in her long-term care insurance premiums. She was so upset that she fired off an email to the Virginia Insurance Commissioner, Scott White, exclaiming how … [Read more...]
New Resource Will Help Consumers Connect With LTC Insurers
Since 1990, nearly 10 million Americans have purchased a long-term care insurance policy. Unfortunately, when the policies were needed 15-20 years later, many of these people (or their adult children) couldn't find the copies of … [Read more...]
Long-Term Care Insurance: That Wasn’t Supposed to Happen!
Q. When my mom was in her 50's, long-term care insurance seemed like a great idea. She bought a policy while she and my father were still relatively healthy, paid their monthly premiums on time every month, and in return they … [Read more...]
Long-Term Care Insurance vs. Life Insurance with a Long-Term Care Rider
Q. My mother was in a nursing home for about two years prior to her death, and it cost the family most of her savings. I don't want the same to happen to me and my husband. Therefore, we are trying to make the decision of buying … [Read more...]
What Happens When a Long-Term Care Insurer Goes Belly Up?
Q. My husband and I are seriously considering long-term care insurance. I read recently, however, that Penn Treaty is facing liquidation, and health insurers across the country are on the hook for hundreds of millions of dollars … [Read more...]
Critter Corner: FAQs About Hybrid Insurance Policies
Dear Ribbit, I am considering a hybrid insurance policy, but I have several questions. If I send them to you, can you help me answer them to clarify some things to help me make a decision. Thanks very much! Hy … [Read more...]
Cost of Long-Term Care Insurance is Increasing. . . Even More than Before!
Q. Our neighbors are both retired Federal employees. Recently, when we had dinner with them, the topic of long-term care insurance came up, and they told us about a huge rate increase last year. Now, they are paying MORE THAN … [Read more...]
The Death of Long-Term Care Insurance?
Maureen’s husband is retiring within the next few years, and her family is now planning in advance for long-term care, in case the need should arise in the future. Recently, in doing some research on long-term care insurance, … [Read more...]