Long Term Care Insurance. Who needs it?

 
Everyone should probably consider it. Why? Because the cost of long-term care, should you need it, can quickly deplete your life's savings. For example, having a home health aide visit just three days a week can cost more than $20,000 annually. Full-time nursing home care, the most expensive type of care, now averages $69,000 to $78,000 per year. In some parts of the state the cost may be twice that amount.

While the financial impact cannot be overstated, long-term care insurance isn't only about money. It's also about peace of mind. Having it ensures you'll have access to first-rate care when you need it. It also means you won't have to be dependent on others or be a burden to your children.

What are the odds you'll need long-term care insurance? Greater than you might think. There's about a 70 percent chance you'll need some type of long-term care after age 65. And long-term care services are not just for older people. A young or middle-aged person who has been in an accident or suffers from a serious illness may require long-term care services. In fact, 40 percent of patients receiving long-term care are under age 65.

If you can afford to pay for care without significantly impacting your assets, you may not need long-term care insurance. However, most consumers are not in this category. Call us today to make and appointment with one of our qualified benefit specialists. Most people are surprised by how low the premiums are... especially for those 55 and under.

To appeal or not to appeal. Is there really any question?

Soon after last week's red tinted political tsunami, politicians on both sides began to stake their ground on personal and professional standings on the new healthcare reform debate.  Listed below are some of those views.  The liberal media is quick to point out that they believe it would be a huge step back to repeal it, but in my opinion, it would be a step back to the basics of small government democracy.  Sounds good to me.

National Journal: "'We can - and should - propose and vote on straight repeal, repeatedly,' he said. ... With victory on the Senate floor unlikely - if not impossible - McConnell said the fight would shift to the committee level. 'Through oversight we'll also keep a spotlight on the various agencies the administration will now use to advance through regulation what it can't through legislation,' he said" (DoBias, 11/4).


NPR reports on Sen.-elect Dan Coats, a Republican from Indiana who is vowing to push repeal of the health overhaul. Coats said: "I think we should throw it out and start over. I think that's the desired way. Clearly, the American people have rejected this. I've, certainly, heard that firsthand through my nine months of campaigning throughout Indiana. We do have issues that need to be addressed in the area of health care, but I think the consensus - strong consensus is that we can do that, starting over with a new bill which will be cost effective but also can address many of the issues that exist out there in health care without a one-size-fits-all-2,000-page bill that no one can seem to piece together to give us a clear path of how this is all going to work and be affordable" (Siegel, 11/4).

MSNBC reports on a statement that Senate Majority Leader Harry Reid's office released on McConnell's comments. "What Senator McConnell is really saying is, Republicans want to let insurance companies go back to denying coverage to people with pre-existing conditions, let them go back to charging women twice as much for the same coverage as men, and let them push millions of seniors back into the Medicare donut hole. ... If Republicans think the American people want to go back to giving insurance companies free rein to impose their abusive practices on middle-class families and seniors, then they are truly out of touch with the middle class" (Montanaro, 11/4).

Reuters adds: "Democrats accused Republicans of putting the interests of large corporations ahead of families. 'It speaks volumes that the first thing on Republicans' "to do" list is to give power back to big health insurance companies,' said Jim Manley, a spokesman for Senate Majority Leader Harry Reid. ... On Wednesday, Obama said he would welcome Republican ideas for improving the healthcare reform, one of the president's biggest accomplishments, but that it would be a mistake to have the fight over again" (Cowan, 11/4).

The Hill: In the meantime, White House press secretary Robert Gibbs said Thursday that the White House doesn't think Obama will have to veto legislation repealing health reform because it won't make it out of both houses of Congress, particularly the Senate. "'I honestly don't think it will come to that,' Gibbs said at his daily briefing on Thursday in response to a question about whether Obama would veto any attempts at repeal" (Youngman, 11/4).

The Hill's Healthwatch Blog: Sen. Tom Harkin, D-Iowa, also said any attempt at repeal will hit a wall in the Senate. Harkin, "chairman of both the Senate Health Committee and the Appropriations health subpanel - said proposals to repeal or defund the reforms have little chance getting through the committees he heads. 'Republicans are seriously misreading this election if they claim a mandate to drag us back to the days of out-of-control health care spending and insurance company abuses and discrimination,' Harkin said in a statement. 'Ordinary Americans will not stand for it, and neither will I'" (Lillis, 11/4).

Make sure to stay informed and aware of the changes happening around us.  Be careful to make sure that our liberties stay intact and that "we the people" have a say in what happens to us.