Thursday, September 27, 2012

Minnesota Own Your Future - Long-Term Care Insurance Awareness Campaign

“Own Your Future”, a long-term care insurance awareness campaign is launching in Minnesota!  Starting September 28, 2012, over one million individuals in the state of Minnesota will receive a letter from the Governor focused on considering your long-term care needs, supplemented by an email campaign (to 500,000). This is a federal and state public awareness effort to encourage and enable individuals to plan for their long-term care needs by the United States Department of Health and Services and the participating state.

The state and federal government knows the importance of planning for long-term care, so now is the best time for you to planning your long-term care future! About 70% of Minnesotans aged 65 and older will need some form of long-term care assistance as they age. Paying for this can be very expensive and most people mistakenly believe that Medicare will cover these costs, in fact Medicare does not! To learn more about your long-term care options, Own Your Future and Medicare visit

Wednesday, June 20, 2012

LTC Solutions: Genworth LTC Cost of Care Map Now Available for iP...

LTC Solutions: Genworth LTC Cost of Care Map Now Available for iP...: Genworth has launched their Cost of Care mobile Apple iTunes app to be downloaded to any iPod, iPad, or iPhone at no charge. This will enabl...

Wednesday, June 6, 2012

How to Qualify for Long-Term Care Insurance Benefits

Most Long Term Care Insurance policies sold today are considered Tax-Qualified, with a this type of policy you are eligible to receive your Long Term Care Insurance benefits when a licensed health care practitioner can verify that you are unable to perform 2 of the 6 activities of daily living (ADL's) for at least 90 days. These include eating, bathing, dressing, toileting, continence, or transferring. Or you suffer from a cognitive impairment such as Alzheimer's, Dementia, Stoke, etc.

Most older policies required one to have a prior hospital stay for 3 days prior to being eligible for Long Term Insurance benefits. Which makes it harder to receive benefits. As you can see with new policies it would not be too difficult to be eligible for your benefits.

Tuesday, May 29, 2012

Long Term Care Insurance For Same Sex Domestic Partners

Building the life that is right for you takes long planning to protect it. However, not many people have the financial resources to pay for the ongoing Long Term Care they might need as a result of a serious illness, injury, or disability. This can be especially true for member of the same sex community, where planning for care can present some unique challenges.

Long Term Care can pose some care issues and financial penalties on the same sex community. By being covered by Long Term Care Insurance this will help to relieve you of the having to rely too much on your partner for physical help.

There are several Long Term Care Insurance policies offered by major Long Term Care insurance companies that offer a same sex domestic partner discount. Another great benefit that is offered is a shared care rider to same sex partners where the benefit will allow you to use your partner's benefit dollars once yours has been depleted.

Plan for you Long Term Care now, and avoid being a burden to your partner in the future - Request a quote!

1. MetLife Mature Market Institute, MetLife Juggling Act Study, 1999
2. MetLife Mature Market Institute and NAC, Resources for Caregivers, 2007

Thursday, May 17, 2012

Reasons to Buy Long-Term Care Insurance

Protect Assets - Long Term Care services in a nursing home care cost as must as $75,000. Home Health Care services can cost as much as $19 a hour (1.). Long TC Insurance can protect these assets by paying these high costs and ultimately you can pass your assets onto your heirs.

Preserve Independence - Comprehensive Long Term Care Insurance policies give you choice and your independence, with allowing you to receive care in your home or assisted living facility, so you don't have to go to a nursing home unless needed.

Avoid being a Burden - As stated in the Caregivers Role section in this website most care provided in the US is provided by a loved one. Long Term Care Insurance can protect you from having to rely on a loved one for care. With long term Insurance, most policies will pay for a home health care aide.

Avoid going on Medicaid - Even if you are not in a low income bracket and say you don't want to deplete all your assets on Long Term Care services you would have to spend down your assets to qualify for Medicaid. See About Medicaid for more information.

Tax Advantages - Many states offer a tax deduction or special tax credit for purchasing Long Term Care Insurance. In addition, Tax-Qualified policies allow your premiums to be added to your other medical expense deductibles, and then deducted from the amount which is more than 7.5 percent of the adjusted gross income on the federal income tax return. See Tax Information for more information.

Medicare Won't Pay Fully - You cannot rely on Medicare to pay for your Long Term Care needs, Medicare strictly provides skilled care, and most LTC is not skilled care. See About Medicare for more information.

Thursday, May 10, 2012

Long-Term Care Insurance, Daily Benefit Versus Monthly Benefit

One of the core benefits to a long-term care insurance policy is the daily benefit, this is the amount per day that the insurance company will pay for your care. This amount is distinguished from the start of your policy, you and your agent will decide what is the best and most suitable daily amount for you. This is not a one size fits all benefit, there are several variations that are involved, such as how much you can afford, what is the average cost of care daily in your state, do you plan on adding inflation protection to increase this amount each year to keep up with the rising costs of care, etc. There are lots of factors invloved as you can see. In this example we are going to use $150 a day as the daily benefit.

Let's say you have a policy and it covers $150 a day, the insurance company will pay for your care up to $150 and that is the cap, which is fine...! But what if you wanted and had the choice to have more flexibility with your daily benefit, where you could receive multiple service in one day without having to worry about capping out your daily benefit? What if your care cost $200 one day, you would be responsible for the remaining $50.

That's where a monthly long-term care insurance benefit would come in. A monthly benefit gives you more flexibility. That $150 a day would then be $4,500 a month, with this you could receive care one day for $200 and you would not be responsible for the remaining $50. A monthly benefit pays on a monthly basis, so you can use $300 one day, $50 the next, $0 the following day, and so on.

Most carriers, but not all, do offer a monthly benefit. Some offer this as an additional benefit rider, where they would charge more if you choose this rider and others automatically have this included in their policies. It just varies from LTC company to LTC company. To to see what carriers offer this benefit complete this confidential form at

Thursday, May 3, 2012

10 Fact About Long-Term Care Insurance

1. Long term care insurance is a form of insurance only found within the United States and the United Kingdom. This has been rapidly growing in the past years throughout the United States. The downside is that coverage costs can become very expensive, mainly when customers wait till the last minute to purchase long term care insurance.

2. Taking advantage of long term care insurance can supplement the cost of living if you live longer than planned or expected. You will always be protected during your elderly years and can ensure that items not covered by Medicare or Medicaid are covered through long term care insurance. Rather than relying on family and friends for support, long term care insurance can cover these costs and more. Not taking advantage can be devastating to your loved one’s pocket books.

3. Your premiums paid on your long term care insurance are often times tax deductible at the end of the year, offering extra incentive to take advantage of LTC. Benefits incurred are excluded from income, offering more tax savings. The deduction is based upon many factors including your age.

4. A client’s age does not play a factor when dealing with long term care insurance. A vast majority of long term care insurance policy holders are between the ages of 18 and 64. More than half of all seniors ages 65 and older will need some sort of long term care insurance during their lifetime.

5. With long term care insurance, you are covered in many areas. These include, but are not limited to adult day care, respite care, nursing home facility costs, Alzheimer’s facilities, hospice care, home care, and assisted care.

6. To determine a person’s long term care insurance rates, there are six major factors to take into account. These will tell you how much you will have to pay to receive the benefits offered by LTC. First, they look at the persons age, the daily benefit requested, the time frame of the benefits, the elimination period, any inflation coverage, and lastly thr persons health rating. A persons health rating can either be preferred, standard, or sub-standard.

7. When getting your LTC insurance policy, often times there will be an elimination or waiting period. This is almost the same thing as a deductible because you pay for the care received before the benefits from long term care insurance are applied to the injuries sustained. If you have a larger deductible, then you will have a lower premium, and vice versa. You must make some sacrifices when selecting an insurance plan for yourself or your family.

8. When it comes to group policies and long term care insurance, it can become a bit tricky. Group policies may include provisions that restrict the open enrollment time frame and may require underwriting. These plans may or may not be guaranteed renewable or tax qualifies. When it comes to the fine print, make sure you read it closely, as some LTC plans have provisions that allow your policy to be changed and switched to another form of a policy at that time. Plans are eligible to be canceled at anytime per the insurance company’s request.
9. Most policies are opened by those Americans that are 60 or older and most are above 80. This is because they realize it is time to purchase some sort of insurance so they do not become a burden on their family when it is there time to pass.

10. Over 8 million Americans are covered or have some sort of long term care insurance. That goes to show that this is a popular form of insurance and has many benefits to the policy holder. When employed by a company you will often have the option to opt into LTC insurance plans. These premiums can be paid annually, semi-annually, quarterly, or monthly.

Thursday, April 26, 2012

Pros and Cons of Long-Term Care Insurance

In recent years long term care (LTC) insurance has gained in popularity, mainly because it is so new and takes time for people to comprehend. Created in the 1980s as a way to prepare oneself for retirement, long term care insurance policies are now held by nearly eight million group or individual plans. This shows how few people have it and how it is gaining in popularity. There are both pros and cons to having this type of insurance plan which will be discussed below. Remember that this is not for everyone, but for those it applies to will greatly benefit.
Long TC insurance can be very beneficial to those who become disabled while under coverage and require either arrangements to live in an assisted living facility, a nursing home, or in their own home. They also are very flexible, allowing you to choose when and for how long the plan lasts for and the payout rates. 
There are many pay reductions to those who are in good health, young, pay your premium in one lump sum, having your family covered under one plan, etc. In turn, this means savings in your pocket. The payments are made on a daily or monthly basis depending on the plan and type of coverage you initially purchased. This means that the larger the benefit you receive and the more the policy pay out; the greater the out of pocket costs will be for the long term care insurance policy.
The major drawback to Long TC is the expenses that you have to pay. These can vary by plan, but usually run fairly high. The reasoning is that the coverage you are receiving is expensive to maintain. You are being assisted upon 24 hours a day. This does not come by cheap. When you add up the costs; approximately $80,000 a year would be spent by you, but if you have a LTC Insurance plan then you only pay $2,000 - $3,000 a year in premiums. This does not seem like that bad of a deal anymore.

In essence, long term care insurance is a good option for many Americans, but not all. One of the main objectives of long term care insurance is it is designed to protect assets, so if there are not assets to protect then you shouldn't’t purchase long term care insurance. You must weigh out the pros and cons before jumping into this decision, but more often than not it is a wise choice to get covered. Be aware that in order to be eligible for your claim your doctor must certify that you that you are not able to perform two or more activities of daily living functions for a period of three months or more. These include, but are not limited to: bathing, eating, dressing, continence, transferring and toileting or suffer from a cognitive impairment such as Dementia.

Summary: Learn the benefits of having long term care insurance versus the cons of having this type of insurance plan. The LTC insurance plans work great for most people, but may not apply to all.

Wednesday, April 18, 2012

Long-Term Care Insurance Elimination Period Explained and the Different Types

The Elimination Period is one of the core benefits of a long-term care insurance policy, it is much like the deductible on your auto or homeowners insurance. The only difference is instead of paying money up front for the deductible you satisfy it with days you pay out of pocket for the own care you receive. Most long-term care insurance companies offer a 0, 30, 60, 90, 180, and sometimes a 365 day Elimination Period. The more common ones that people choose are 30 and 60 days. This means that once you go on your LTC claim - your doctor certifies that you will need care for more than 90 days due to suffering from a cognitive impairment or you are unable to perform 2 of the 6 activities of daily living - you will have to pay for your own care for the specified period of time you originally choose your Elimination Period to be before the insurance company will begin paying your long-term care insurance benefits.

However, sometimes this can be confusing and there can be a catch to Elimination Periods. The reason is, does this mean you have to be actually receiving care for each of the days (say 60 days) or does it just have to be 60 days total regardless if you are receiving care on the actual days or not. There is a difference. The long-term care insurance companies either have a Calendar Day Elimination Period or a Service Day Elimination Period. Here is an example:

Say you purchase a policy that has a 60 day Elimination Period and you receive home health care benefits for 3 days a week and you have a Service Day Elimination Period it would take you 20 weeks/5 months to satisfy your Elimination Period. If you were to have a Calendar Day Elimination Period your LTC insurance benefits would begin after 60 days, regardless of how many days a week you received and paid for your care. As you can see a Calendar Day Elimination Period is definitely the better deal.

Some long-term care insurance companies have the Calendar Day Elimination Period automatically included in their polices, others you have to pay an additional cost for this. It varies from company to company. To learn more and to see what LTC insurance companies offer this benefit in their policies visit and fill out the confidential form.

Thursday, April 12, 2012

Planning to Use Assets to Pay for your Long-Term Care Expenses?

Many people feel that they do not need long-term care insurance because they will pay for their care themselves. If this is the case, you should rethink this and answer this questions - What assets have you set aside to pay for your long-term care expenses? After thinking about this, is the answer your retirement savings or your children's inheritance. Or if you plan to liquidate assets to pay for your long-term care needs, please know that this may trigger penalties and tax consequences and also the loss of future earning the asset may have created.

Long-term care insurance may be a better alternative if you compare the costs of the premiums versus using assets that have been already allocated elsewhere. To talk to a professional about your long-term care choices complete this form here -

Thursday, April 5, 2012

Long-Term Care Insurance - What is Shared Care?

A shared care long-term care insurance policy can be a great way for couples to not only reduce the cost of their premiums but it can also give you more coverage, it gives you more value for to your coverage by combing two individual policies. It allows you and your spouse to split your long-term care benefits and use your spouses benefits when you have exhausted yours. Here is an example of how shared care works. Lets say you and your partner each have a 3 year benefit period and you have used up all of your 3 years of long-term care insurance benefits and you still need care. You will then be able to use your partner's long-term care benefits, some or all. Your partner will then have the remaining benefits that you don't use for him/her if they should need care.

Typically when one partner dies the surviving partner's benefits will be increased by the deceased partner's remaining benefits. For example, if you both have a 3 year long benefit period and your partner received care for 2 years and then passes away, your long-term care insurance benefit period will be 5 years. Premiums are typically reduced by the shared care benefit rider as well.

The shared care benefit costs about an additional 15% on a long-term care insurance policy, but this is typically cheaper than buying two separate policies with a longer benefit period and  there is a great chance that one of you will need long-term care services.

Shared care policies do differ from company to company. To learn more visit and complete the confidential form for some shared care comparison quotes.

Wednesday, March 28, 2012

Married Couples: One Spouse gets Approved for Long-Term Care but the Other Spouse is Declined - What are your Options?

This is a common situation that happens in the long-term care insurance industry - where a couple applies for long-term care insurance but only one spouse gets approved for coverage and the other spouse is declined (typically due to a health condition). So the question is - what are your choices for the uninsurable spouse? Unfortunately, there are not too many options out there. First they can try and get the spouse approved by another long-term care insurance company, since each company does have different underwriting policies, but this is not a guarantee that they will get insured. If that is the case there is another option that only few LTC Insurance companies offer. It is an additional benefit that can be purchased on the insured spouses policy that will provide additional funds when the insured spouse goes on claim. This money can be used to pay for long-term care insurance services and/or living expenses for the uninsured spouse. It varies from company to company how much this benefit will cover. These funds do not effect the insured spouses policies maximum lifetime benefit.

To learn more have a licensed long-term care insurance specialist contact you by completing this form at

Wednesday, March 21, 2012

Long-Term Care, Home Health Care

When most people think of long-term care services they think nursing home care, but did you know that long-term care insurance can actually help keep you out of a nursing home? Most long-term care insurance policies today cover home health care, which is where most of us want to be and remain - in our homes! These LTC Insurance policies typically cover a variety of benefits that will help you stay in your home which include personal care services to assist you with your activities of daily living, homemaker services to help with grocery shopping, meal preparation and housekeeping and there are professional services of a RN, home health aide or therapist. Some policies will even include other benefits to include informal care (payment to a friend of family member to care for you), special equipment (wheelchair, walker, bed, etc), home modifications, etc.

As you can see long-term care insurance policies help make it very easy for you to remain in your home while receiving care. To learn more about long-term care insurance visit

Friday, March 9, 2012

Why is Planning for Long-Term Care Important?

It is becoming more and more likely today and even more so as time goes on that Americans will live into their 80's, 90's, and maybe even their 100's and when there is longevity like this there is an increasing risk that they will need long-term care services. Because long-term care places an huge amount of emotional and physical strain on loved ones and family members it is important that you take it into your own hands to have a plan for when you might need long-term care. Not only will having a plan together for long-term care will it reduce the burden of having a loved one have to care for you but it will also protect your assets, and provide you with the freedom of choice - choosing where to receive your care, which most would choose their home!

Take the steps in protecting your future and protecting your loved ones from the emotional and physical strain by planning for long-term care insurance today! Visit to learn more!

Tuesday, February 28, 2012

When to Plan for Long-Term Care

Many people believe that their long-term care needs are already covered by health or disability insurance. Which in fact, these typically do not cover long-term care assistance. Medicare and Medicaid are also not designed to cover the costs of long-term care. Planning today with long-term care insurance will help you protect your future!

The time to prepare for long-term care is now! It is important to plan for long-term care when you are young and healthy - sooner rather than later. The reason is that your age and health are two of the main components that will determine the cost of your long-term care insurance policy. The younger and healthier you are when you purchase a long-term care insurance policy, the less expensive it will be. Many people believe, why buy a long-term care insurance policy at a young age and pay into for so long when they won't need it until they are much older. The truth is, is that the coverage you decide to buy for your future will also protect you today. Younger people do also need long-term care services, from say an accident or an illness.

Plan today!! Visit for a free quote!