Information About LTC Archives - Page 39 of 51 - Long Term Care Insurance Expert | Honey Leveen

Former CBO Director Testifies, Gets It

May 8, 2012 by Honey Leave a Comment

“The availability of Medicaid presents a deterrent to some for the purchase of private long-term care insurance,” testified Douglas Holtz-Eakin, Ph.D., president of the American Action Forum, at a Senate Special Committee on Aging titled “The Future of Long-Term Care: Saving Money by Serving Seniors.” This was reported in an April 19, 2012 article in McKnight’s LTC News.

Mr. Holtz-Eakin is the former director of the Congressional Budget Office (CBO), and he really “gets it” about long-term care financing. He also added that one way to do this would be for the government to provide incentives for long-term care insurance purchase.

Mr. Holtz-Eakin’s beliefs resonate with me and every other (Long-Term Care insurance) LTCi specialist I know. We feel that even though Medicaid provides inferior care (as I often document in this blog), it is relatively easy for almost everyone to access. Therefore, people are poorly motivated to plan responsibly for their long-term care.

The National Association of Health Underwriters (NAHU), whose Long-Term Care Advisory Committee I serve on, wholeheartedly agrees with Mr. Holtz-Eakin.

Cuts in public funding cause increased nursing home admissions

May 8, 2012 by Honey Leave a Comment

Due to budget concerns, many states are cutting respite services, which provide temporary relief in the form of short-term home care workers, brief stays in residential facilities and adult day care centers, reports this April 30, 2012 article from McKnights Long-Term Care News.

These services, which are much less costly for families than skilled nursing facility stays, have been targeted by cash-strapped states.

Respite care often allows the elderly to delay or prevent being admitted to a nursing home.

These cuts will lead to more seniors being admitted to nursing homes. When people need long-term care and cannot afford to pay for it due to lack of responsible advance long-term care planning, they usually default to Medicaid. Each additional Medicaid long-term care recipient worsens budget shortfalls and crisis.

Alzheimer’s Declared a Public Health Crisis

May 3, 2012 by Honey Leave a Comment

A new report from the World Health Organization (WHO) and Alzheimer’s Disease International(ADI) calls for nations to make dementia an international public health priority, declaring dementia a public health crisis (Dementia: A Public Health Priority. 2012: WHO Press, World Health Organization, 20 Avenue, Appia, 1211 Geneva 27, Switzerland, ISBN 978 92 4 156445 8).

Unfortunately, incredibly, in this 112 page report and all the media coverage of it, no mention is made of how to fund care for those afflicted with Alzheimer’s!

Majority are concerned about needing care

April 27, 2012 by Honey Leave a Comment

A 2011 Prudential survey (Long-Term Care Insurance: A Piece of the Retirement and Estate Planning Puzzle. ©2011, The Prudential Insurance Company of America. 751 Broad Street, Newark, NJ) indicates that 71% of us are concerned about possibly needing long-term care.

63% of us are not confident we can pay for long-term care, yet only 17% of us own long-term care insurance (LTCi).

The survey states that most people do not understand how long-term care is paid for. People also overestimate LTCi’s cost and underestimate the probability they might need care.

If you are a consumer over the age of 40, and still don’t own LTCi, the report and my own personal experience indicate that you will be well served by taking the time to learn about long-term care and purchase LTCi now, while you can qualify and find affordable premiums!

Coping With Caregiving

April 27, 2012 by Honey Leave a Comment

On April 30, 2011, I was honored to be interviewed by Jacqueline Marcell, author of Coping with Caregiving , speaker and host of the radio show by the same name.

The recent Urban Institute study I blogged about states that only about 10% of us over 55 years of age own LTCi.

Ms. Marcell and I talk about how it is proven that the public has mis-information about LTCi costs and likelihood, and what can be done about this.

I’m biased, but I think our conversation is engaging and useful. I want to encourage you to listen to my interview (sorry, interview no longer available on site) and share it with those you care about, who still have not planned responsibly for the possibility of needing long-term care.

Former CBO Director Testifies, Gets It

Cuts in public funding cause increased nursing home admissions

Alzheimer’s Declared a Public Health Crisis

Majority are concerned about needing care

Coping With Caregiving

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