Monday, February 23, 2015
Positive news for the nation’s aging senior population and taxpayers. An increasing number of individuals who possess long term care insurance are receiving benefit payments.
The Association worked today with one leading long term care insurance company MedAmerica Insurance Company to help create heightened awareness of the growing importance of this form of protection. “There’s much media coverage about the importance of long-term care planning but rarely is the story told of how this benefits real people today,” Slome shares. “We salute and recognize MedAmerica Insurance Company for their help in enabling our organization to tell this important and powerful story.”
The news story has already appeared in some 90 major media outlets with the potential to reach thousands of consumers.
Links to some of the key news media reporting the story:
Boston.com (Boston Globe)
Monday, February 16, 2015
The nation’s leading long term care insurance trade organization calls on health and consumer groups to heighten awareness of advances in understanding ways consumers can significantly reduce the risk of getting dementia.
“Another major study finds that some simple lifestyle changes can reduce the risk of cognitive decline by 60 percent,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). ”If there was a pill that had the same effect, everyone over age 50 would be taking a daily dose.”
According to the long-term care insurance organization, dementia, which can include Alzheimer’s disease, affects 15 percent of the over 70 U.S. population. “The percentage affected increases as one ages,” Slome adds. “This is not a nice disease, so when one hears of research that demonstrates simple ways to reduce risk, a call for heightened awareness is called for.”
Slome is referring to recent study reported in the Wall Street Journal. Conducted at Cardiff University in the U.K., researchers followed 2,235 men for 30 years. “The study started when these men were initially between ages 45 and 59 years old,” Slome notes. The report found that men who consistently did a few things on a consistent basis reduced their risk for cognitive decline and dementia by 60 percent.
The activities included eating three or four servings of fruits and vegetables daily, maintaining a normal weight and a body-mass index of between 18 and 25, not smoking and limiting alcohol consumption. Walking two miles a day or some similar activity proved to have the greatest impact on risk.
“Considering the millions of Americans who will be living into their 80s, 90s and beyond without a financial plan in place to deal with the costs of long-term care, it would be prudent for a massive educational effort,” Slome advocated. “We’ll do our part to encourage more people to plan and to live healthy lifestyles. I hope others join in the efforts.”
Monday, February 9, 2015
Twenty states now offering consumers a significant incentive when purchasing long term care insurance coverage were applauded today by the American Association for Long-Term Care Insurance.
“We have said the Partnership Long-Term Care program was the best kept secret because it was created to provide middle income individuals with an special incentive to purchase coverage,” declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). The Long Term Care Partnership Program is a joint federal-state policy initiative to promote the purchase of private long term care insurance. According to Slome, the Partnership Program is intended to expand access to private long term care insurance policy to pay for long term care services.
“States required that consumer purchase inflation growth option but many states have failed to change the formula which makes the policies far more expensive than consumers are willing to pay,” Slome explained. “Some 20 states now allow consumers to select a low one percent growth option and that makes coverage highly affordable.”
The 20 states include Florida, Texas, Virginia Colorado, Tennessee and Georgia. “We applaud the states which have acted to provide their residents a significant advantage and hope others follow,” Slome said. “Especially when a new generation of long term care insurance policies allow consumers to purchase coverage with a one percent growth option that can be changed in future years without having to re-meet health qualification requirements.”