Monday, September 28, 2015
Costs for the long term care insurance program offered to federal employees, military personnel, retired federal workers and certain family members have been increased.
“This frankly was a surprise because the program is up to be rebid shortly when one assumes rates will go up,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). “The last premium increase took place back in 2009 which made this policy less expensive than many policies available to individuals. That may seem good but it also means a rate increase for policyholders or a change in policy benefits could be likely.”
According to Slome, the Federal long-term care insurance program is the nation’s largest. “It’s a voluntary program and we haven’t seen numbers lately but at one time, there were some 270,000 plan participants,” Slome acknowledged.
“Is the federal plan the best option for someone who is eligible?” Slome rhetorically asks. “It could very well be, especially if you are a single woman or have some existing health conditions. But if you are in good health or qualify for a discount insurers offer to couples or partners when one or both apply, it really pays to compare.”
Slome advises consumers interested in comparing long term care insurance policies work with a knowledgeable specialist who can compare at least four or five of the major insurers. “There are significant price and policy option differences that make it important to work with someone who does not favor just one particular policy,” Slome shares.
Monday, September 14, 2015
People associate long term care insurance with nursing home coverage but what they really want is care at home. A new video from the national long term care insurance trade group shares information on an available option. the head of the national long term care insurance trade group.
“We get calls daily from spouses or family members who are looking for insurance that will pay for home care services,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). “Most of the time, the individual is too old or can not health qualify for traditional long-term care insurance.
The trade group just posted a new four-minute video that shares a home care insurance policy available in a number of states. The policy can provide up to $750-per-week for home care services when the individual meets the policy requirements.
“Traditional long term care insurance policies stop taking new applications after age 75 and most are sold with a 90-day deductible or elimination period,” Slome shares. ”Often, especially with older individuals, home care services are desired immediately and when we find an option worth considering, we like to share it with consumers.”\
The Association’s new video can be accessed at https://youtu.be/QozR9jtQtMk
Created in 1998, the American Association for Long Term Care Insurance works to create heightened awareness among both consumers and insurance professionals. The National Advisory Center for Short Term Care Information was created to make American consumers aware of options that can affordably provide benefits for care needs.
Monday, September 7, 2015
Costs for virtually identical long term care insurance can vary significantly as can plan benefits, options and discounts according to a new consumer video posted by the American Association for Long-Term Care Insurance.
“You only buy long term care insurance once so you had better do it right the first time,” advises Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The organization has posted a five-minute video designed to shed light on the topic and provide some helpful information. “Unlike other insurance where you can switch insurers in future years, with long term care insurance it almost never works out to do that,” Slome adds.
“More than ever, the differences between various long term care insurance products makes it a daunting task for the average consumer,” Slome explains. “It’s the contractual provisions that matter most when you need care and you don’t even get a contract until you are approved by the insurer. That is one reason we advocate today for working with a knowledgeable professional.”
The organization’s video which shares three questions to ask to determine the level of knowledge and experience can be seen at https://youtu.be/cKvw1uip_YM
Tuesday, September 1, 2015
To encourage more Americans in their 50s to consider long term care planning options, the American Association for Long-Term Care Insurance has just posted a new 10-minute educational video.
“We hear from many consumers in their 50s who want to know why they should consider long term care insurance and there is a lot of misinformation floating around,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The organization has posted a 10-minute video sharing relevant information to help those in their 50s make better decisions regarding long term care insurance planning.
“You can’t deal with everything in just 10 minutes but we wanted to share some pertinent information specifically for men and women in their 50s,” Slome explains. The national long-term care insurance expert notes the ideal time to undertake long term care planning is prior to turning 65. “You’ll have the most options available when you are younger and in better health, and it will cost you much less to plan for future needs,” he adds.
The organization’s video can be seen at https://youtu.be/6qXCfyHMOa4