Fifty years ago, Billie Jean King (then age 29) soundly beat self-proclaimed male chauvinist Bobby Riggs (then age 55) in an event dubbed the Battle of the Sexes. Although a lot has changed in American society since the ‘70s (for better or worse), when you look at long term care what you often see is a throwback to traditional gender roles. It’s important to understand that, as I’ve indicated in previous articles, long term care is frequently a women’s problem. Here’s one reason why: on average women live longer than men, therefore women are more likely to need extended long […]

Odds are that among all your friends, relatives, advisors, and colleagues, very few have ever talked with you about the importance of planning for a future care need. Can’t blame them— it’s definitely not the most exciting of topics.  

Imagine trying to design a home if you didn’t know the local building codes, zoning laws, what materials were available and what they cost, and how to get utilities to the property. Now you know how most people feel when they (or a family member) need long term care. Thinking ahead now, in advance of an acute care need, can take out some of the sting when this emergency situation arises.

Whether you’re a new long term care insurance policyholder (congratulations!), or you’re a family member of a policyholder and you’re anticipating a need for that person’s care, this article can help you get your claim paid quickly and with minimal stress.

It’s frequently said that long term care is a women’s issue, and there’s a lot of evidence to support that point of view. Sixty percent of family caregivers (read: unpaid) are female. Not only is the majority of long term care provided by women, but a visit to any assisted living facility, nursing home, or continuing care retirement community quickly confirms that most professional (read: paid) long term care is provided to women.  

Prospects of higher inflation may strike fear in the hearts of most people. However, long term care insurance policyholders may actually have quite a different reaction. Let me explain:  

Decades ago, when someone needed long term care, it would often be provided at home. The only other option was to move to a nursing home, which most believed was a choice of last resort. Although nursing homes are still frequently seen as one of the less desirable options when it comes to long term care, what has changed is the laundry-list of home-based care and senior housing options.  

The prevailing wisdom is that long term care insurance claims don’t happen until well after traditional retirement age. Say, age 80+, or even 90+ if you’re lucky. And that’s true— usually. But let’s consider the exceptions. Imagine you’re 45, 55, or 65, and you just bought a long term care insurance policy. You’re probably thinking you’ve got a long time before the possibility of having to submit a claim might arise. That thinking is valid. If you’re healthy enough to qualify for coverage in the first place, a claim sooner rather than later would indeed be a surprise.

I find that the greater a person’s understanding is about exactly what long term care insurance can and cannot do, the more likely they are to clearly see its benefits. Long term care (LTC) insurance pays a monetary amount for covered care when the insured either needs assistance with defined activities of daily living and/or has met the policy’s definition of cognitive impairment. The essence of LTC insurance, like all other types of insurance I can think of, is that it provides money. That money protects the insured against financial loss. No more, no less. Long term care insurance doesn’t […]

If there’s a silver lining to the pandemic we’re all living through, it’s the spotlight on long term care. Families with loved ones in senior care homes, whether assisted living units, nursing homes, or other facilities, were confronted right from the start with difficulties previously not considered. From lockdowns impacting visits to infection control protocols, strong or weak, it’s safe to say a wide swath of the American public now has a new awareness of long term care that is provided within residential facilities. Home care was also impacted by the pandemic. Who exactly was taking care of Mom or […]