Long-Term Care Insurance

RECENT NEWS
New York Times  Jul 14  Comment 
Big cuts to Medicaid are still in the Senate’s health insurance bill. How might you pay for your care in old age if the government can’t or won’t?
Forbes  Jul 12  Comment 
A bipartisan plan would boost private long-term care insurance and make some coverage available through Medicare.
Motley Fool  Jun 10  Comment 
What you need to know to help you understand and plan for long-term care this year.
Forbes  May 10  Comment 
The House health bill will not only raise medical insurance costs for middle-aged buyers, it will also batter seniors and the long-term care insurance business.
Motley Fool  Mar 2  Comment 
Most people have never even considered buying long-term care insurance, yet the odds that you'll need it someday are considerably better than even.
DailyFinance  Jan 31  Comment 
Filed under: Finance, Retirement, Retirement Caring for an aging parent or friend can be expensive. But when you know that someone needs assistance, it's hard to avoid offering to help. While there's nothing wrong with providing a relative or...
Forbes  Nov 30  Comment 
Tom McInerney (Victor J. Blue/Bloomberg ) Genworth, the biggest seller of long-term care insurance policies in the US,has announced it will be acquired by a Chinese investor, China Oceanwide Holdings. I spoke with Genworth CEO Tom McInerney about...
Forbes  Nov 11  Comment 
John Hancock Financial, owned by Manulife Financial Corp., a Canadian firm, is pulling out of the long-term care insurance market this December. John Hancock has been one of the largest long-term care insurance providers in the United States with...
Forbes  Oct 27  Comment 
Genworth Financial, the largest seller of long-term care (LTC) insurance policies, has agreed to be acquired by a privately-held Chinese investment firm. At the same time, it announced it will reserve an additional $400 million to $450...




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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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