LONG TERM CARE INFORMATION




Click here for additional information
on long term care insurance from the Long Term Care Insurance National Advisory Council.
WHAT IS LONG TERM CARE?
Since 1983, Medicare has been using a DRG (diagnosis-related group) of guidelines for payment to the hospital of a lump sum which is determined in advance of the treatment as a "prospective" reimbursement system. This new system has given hospitals a powerful incentive to discharge patients as quickly as possible. Nursing homes and convalescent care facilities have become the recovery center for most patients still requiring nursing care after discharge from the hospital.
The next generation of policies in the mid to late 1980's recognized the need for Home Health Care compensation and were the first to integrate comprehensive contracts which covered the full range of benefits including Home Health Care, Adult Day Care, Assisted Living and Nursing Home Care. These policies were site neutral meaning that the consumer had a choice of how to use the policy benefits.

WHY DO I NEED LONG TERM CARE?

Increased Longevity
Americans are living longer. Increased age comes with increased odds that you will require Nursing Home Care (43% of all people reaching age 65 in the U.S. will spend some time in a nursing home) or Home Health Care (75% of elderly living today rely on family and friends for informal at home care). Elder care will replace child care as the #1 dependent care issue in the next century because 1 out of 3 workers will be caring for an aging family member.

Little Government Assistance
Medicaid was enacted to provide health care services for the impoverished of our nation. Recent legislation has made it extremely difficult for a person of modest means to qualify for Medicaid benefits by gifting or otherwise disposing of personal assets for less than fair market value. Even gifts to one's spouse do not help, since the combined assets of couples must fall within the eligibility levels. These levels range from a minimum of about $15,000 to a maximum of about $75,000 and are selected by each state.

For Every 1,000 People

5 people will have a house fire.
Average loss, $3,450
70 people will have an auto accident.
Average loss, $2,800
625 people will need long term care.
Average loss,
$50,000 to $80,000 per year.

WHAT CAN BE DONE?

Plan for Medicaid
Medicaid regulations for qualification continue to become more restrictive. The government currently pays about half of all nursing home costs, but it's likely that individuals will have to pick up a bigger share.

Purchase LTC Insurance
Many people consider purchasing long term care insurance for reasons that go beyond protecting personal assets, such as wanting to retain the ability to choose between receiving care in their homes or in a facility, wanting to avoid becoming a Medicaid patient, and/or the desire not to burden family members with having to pay for and/or provide care. To recieve a quote on LTC, please fill out the form below. Filling out this information does not obligate you to purchase insurance in any way.

Insured Information

Single

Joint

First Name

Last Name

   Address  

          City State  ZIP

      DOB  --Example: 11-09-78

                  Best Time to Call  AM  PM

                  Day Phone()--

                  Evening Phone ()--   

Additional information for second person if requesting a joint quote:

First Name

Last Name

 Address                                                                                          

          City State  ZIP

      DOB  --Example: 11-09-78

                  Best Time to Call  AM  PM

                  Day Phone()--

                  Evening Phone ()--   

First Person Rate Class          Second Person Rate Class

Preferred Plus                     Preferred Plus

Preferred                            Preferred

Standard                            Standard

The premium Rate Classifications above are separated by specific underwriting criterion which can only be determined by the company.  To address questions concerning the differences, please contact us.

NURSING HOME BENEFIT

Desired Daily Benefit@$40-$200 increments

Benefit Period

2 Years

3 Years

5 Years

Lifetime

HOME AND COMMUNITY SERVICES BENEFIT

Desired Daily Benefit          Benefit Period

50% of NHB                      2 Years

100% of NHB                    3 years

None                                  5 Years

                                               Lifetime

Elimination Period              Premium Payment Period              

0 Days                                Lifetime

30 Days                              10 Year

90 Days                              1Pay

Payment Mode                 Inflation Protection        

Annual                                Compound 5%

Monthly Check-O-Matic    Simple 5%

                                               None

Tax Qualified                   Indemnity Rider

Yes                                     Yes                               

No                                      No

 Endorsed Group 

 Yes              No  

If yes, please include name of group below:

         

Caregiver Indemnity Rider

Yes               No

Non-Forfeiture Rider Benefit

Yes               No

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