Can we talk about long-term care?

Posted on
Categories: Industry Awareness

Long-term care is a serious issue that will affect most people.  However, it is a very difficult conversation to have and here are some of the reasons:

  1. Confusion – it is difficult to understand the costs and what is covered by Medicare, Medicaid and private insurance.
  2. Denial – Many think they will never need it, however 70% of people of 65 will need some form of care.
  3. Mistrust – will the company be around when they need the care?
  4. Discomfort – it is simply too unpleasant to think about becoming ill and needing care.

Those who have considered and purchased long-term care insurance have done so for the following reasons:

  1. They do not want to be a burden on their families.  In fact, people are 5 times more concerned about being a burden than dying.
  2. They want quality care in the setting of their choice.
  3. They want to protect their loved ones quality of life and financial security. (49% of primary caregivers report an average lost income of 40%.

At GWE we help clients consider the risks, costs and possible solutions to this problem. Contact Keith Eig to discuss long-term care and if it’s right for you.

DC Realizes What LTC Insurance Providers Have Known For Years

Posted on
Categories: Media Commentary

People with long-term care needs would prefer to receive assistance in the comfort of their own homes. Beyond that, it’s less expensive in many cases to provide home care assistance than it is to have someone enter a nursing home. This Washington Post article highlights what the District is doing to provide more home health services to people with long-term care needs through Medicaid and other programs.

Your loved ones don’t have to spend down their assets enough to qualify for government assistance in order to receive long-term care assistance at home. Most long-term care policies that are available today offer home health care benefits to insureds who qualify with no elimination period! Additionally, most long-term care carriers provide a complimentary concierge service to help families navigate care options. Long-term care insurance can provide not only financial protection but also logistical assitance when your family needs it most.