Long-Term Care Insurance

RECENT NEWS
New York Times  Feb 22  Comment 
A report by the American Association for Long-Term Care Insurance finds that rates rose this year an average of 9 percent.
New York Times  Feb 20  Comment 
A report by the American Association for Long-Term Care Insurance finds that rates rose this year an average of 9 percent.
Motley Fool  Feb 8  Comment 
Rising premiums over the years has turned the coverage into a nightmare for many.
MarketWatch  Jan 26  Comment 
One way is to increase “elimination periods.”
MarketWatch  Dec 23  Comment 
For retirees with modest nest eggs, the odds of needing long-term care coverage don’t justify the costs.
Forbes  Nov 19  Comment 
Last week, Genworth Financial, the dominant player in the traditional long-term care insurance market, acknowledged it is continuing to struggle to keep the product afloat. The firm announced it increased its reserves against future insurance...
USAToday.com  Sep 9  Comment 
Seventy percent of people over 65 will need some form of long-term care at some point.
Motley Fool  Sep 6  Comment 
Long-term care is a big concern of baby boomers, but getting coverage isn’t easy
SeekingAlpha  Aug 31  Comment 
By Frances Aylor: Long-term care insurance remains a challenging business segment for Genworth (NYSE:GNW). Despite price increases and product changes over the last several years, LTC operating earnings in the second quarter plunged to $6 million,...
TheStreet.com  Jul 29  Comment 
NEW YORK (TheStreet) -- Seventy percent of Americans will need long-term care insurance, according to a study from Genworth, but the median national monthly rate for live-in care at an assisted-living facility clocks in at $3,500 per month --...




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Long-term care insurance helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid.

Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.

Age is not a determining factor in needing long-term care. About 60 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. About 40% of those receiving long-term care today are between 18 and 64. Once a change of health occurs long-term care insurance may not be available.

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