Employer Sponsored Long Term Care Insurance is insurance provided as an employee benefit to cover the potentially catastrophic financial impact of an illness or period of frailty where long-term care is required. The market for long-term care insurance exploded during the 1990s and has continued to grow throughout the early portion of the twenty-first century. This market has two key segments: one for individual policies and the other for employer-sponsored and other group products. Sales of employer-sponsored long-term care policies generated premiums of nearly $55 million in the year 2001 (more…)

Insurance can be one of your greatest costs, so it pays to evaluate it annually. But you’ll definitely want to ensure that policy terms and regulations, as well as your own needs, haven’t changed. Are you on the best plans possible at the least possible insurance cost? Be sure that each insurance company you use still is highly rated. Are beneficiaries correct? (more…)

Coverage

Medicaid coverage is broader than Medicare. However, obtaining care can sometimes be more difficult. Medicaid covers prescriptions, nursing home care, home health care, doctor visits, and hospitalization. Some state plans also cover dental care, eye care, hospice care, and therapy. Contact your local agency on aging for information about your state plan. (more…)

The chances are that without realizing it, you might in fact have already tapped into the long-term health care system, although not into a nursing home. We like to think of long-term care as the concern of senior citizens, but the term has a broader legal meaning. Long-term care involves becoming cognitively impaired, or the expectation that you will be unable to manage at least two of the six activities of daily living (more…)