Long Term Care insurance Archives - Page 25 of 34 - Long Term Care Insurance Expert | Honey Leveen

Federal Deficit Dwarfs Official Tally

May 31, 2012 by Honey Leave a Comment

Here’s some really scary stuff, hot off the press:

According to the May 30, 2012 National Center for Policy Analysis newsletter, the typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, according to a USA Today analysis.

Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.
A U.S. household’s median income is $49,445, the Census reports.

Why, oh why, would anyone choose to rely on the government to pay for their long-term care?

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.

Alzheimer’s Disease – A Rapidly Approaching Medical and Financial Crisis

March 28, 2012 by Honey Leave a Comment

The odds that you’ll have Alzheimer’s disease are 1 in 8, according to the “2012 Alzheimer’s Disease Facts and Figures” (Alzheimer’s Association:225 N. Michigan Ave., Fl. 17 Chicago, IL 60601-7633). An estimated 5.4 million Americans currently have Alzheimer’s, 5.2 million of whom are over 65. And your odds increase to 1 in 2 if you live to age 85. As the sixth leading cause of death in theUnited States, this tragic disease currently costs over $200 Billion to treat, and that annual cost is expected to rise to $1.1 TRILLION by 2050!

Where will all that money come from? Medicare and Medicaid pay for 70% of the current annual cost, and over 15 million Americans provide unpaid care for a person with Alzheimer’s or other dementias. With each passing year, government funds will become increasingly insufficient to cover this staggering expense, leaving the burden of care on family and friends. And tragically, even today 800,000 people with Alzheimer’s live alone and as many as half of them have NO caregiver. We can only imagine how that number will soar with each passing year.

So what’s the answer? The good news is that “cognitive impairment” is a valid basis for a claim on all long-term care insurance (LTCi) policies. So if this tragedy strikes you and you have purchased such a policy, your LTCi will take the burden off of the US government as well as your family and friends. The choice is yours…

Long term Care Insurance (LTCi) Could Liberate You

March 8, 2012 by Honey Leave a Comment

Recent research on how much money retirees spend (Expenditure Patterns of Older Americans, 2001 – 2009 Issue Brief, February 2012, No. 368: 1100 13th Street, NW Suite 878 Washington, DC 20005-4051). uncovered still another advantage of owning LTCi. Careful tracking of the actual spending of 5,000 older households from 2001 to 2009 showed that median household spending declines steadily as elders age.

Further analysis showed that retirees who owned LTCi spent considerably more than retirees without this insurance. Researchers ruled out the explanation that those who owned LTCi were actually wealthier than their counterparts. When compared with elders with the same levels of wealth and income, those with LTCi spent more. Why? Those without LTCi are more cautious and frugal to save funds they will need to cover the exorbitant costs of long-term care. As we know, such costs include about 70% of Americans over 65.

The lesson? Reduce financial stress and live more comfortably in your final years by investing in LTCi TODAY. This very important decision will give you financial peace of mind – in addition to removing the likely burden of your loved ones having to become your caregivers.

Request a Free, No-Obligation LTCi Quote

Federal Deficit Dwarfs Official Tally

Majority are concerned about needing care

Coping With Caregiving

Alzheimer’s Disease – A Rapidly Approaching Medical and Financial Crisis

Long term Care Insurance (LTCi) Could Liberate You

From My Blog

Podcast Illuminates LTC Need

LTCI is Magical at Time of Need!

Testimonials