July 24, 2018
Last year, after finishing with college tuition for their three children, Jessica Galligan Goldsmith and her husband, James, treated themselves to something she had long wanted: long-term-care insurance.
It hasn’t been cheap. The couple, both lawyers in their mid-50s, will shell out more than $320,000 between them over a decade. For that, they will be able to tap into benefits topping $1 million apiece by the time they are in their 80s, the age when many Americans suffer from dementia or other illnesses that require full-time care.
Plus, the policies pay out death benefits if long-term care isn’t ultimately needed, and most provide 10% to 20% of the original death benefit even if the long-term-care proceeds are fully tapped.
Such policies that combine long-term-care coverage with a potential life-insurance benefit are called “hybrids,” and they are reshaping the long-term-care niche of the U.S. insurance industry.
July 11, 2018
By Allison Bell | June 27, 2018
Carriers may be afraid to sell it, but workers seem to like it almost as much as life insurance.
Workers in the “Millennial” generation — those born from 1979 to 2000 — may like seeing long-term care insurance (LTCI) options on the benefits menu even more than older workers do.
All workers combined say they like LTCI benefits almost as much as they say they like life disability insurance.
Workers seem to be much more interested in LTCI benefits than in benefits sometimes seen as LTCI substitutes, such as critical illness insurance and cancer insurance.
June 27, 2018
How to Talk About Long-Term Care Planning Now
Here are some phrases you can use to persuade listeners to notice the train that’s coming at them. Read more.
June 11, 2018
Joseph Andrey was 5 years old in 1927 when his impoverished mother sold him to the manager of a popular vaudeville act. He was 91 last year when he told the story again, propped in a wheelchair in the rehabilitation unit of a nursing home where it seemed as though age and infirmity had put a different kind of price on his head.
Craning his neck, he sought the eyes of his daughter, Maureen Stefanides, who had promised to get him out of this place. “I want to go home, to my books and my music,” he said, his voice whispery but intense.
He was still her handsome father, the song-and-dance man of her childhood, with a full head of wavy hair and blue eyes that lit up when he talked. But he was gaunt now, warped like a weathered plank, perhaps by late effects of an old stroke, certainly by muscle atrophy and bad circulation in his legs.
Now she was determined to fulfill her father’s dearest wish, the wish so common among frail, elderly people: to die at home.
June 8, 2018
By Phil Galewitz, Kaiser Health News
Medicare’s financial condition has taken a turn for the worse because of predicted higher hospital spending and lower tax revenues that fund the program, the federal government reported Tuesday.
In its annual report to Congress, the Medicare board of trustees said the program’s hospital insurance trust fund could run out of money by 2026 — three years earlier than projected last year.
A senior government official briefing reporters attributed the worsened outlook for Medicare to several factors that are reducing funding and increasing spending.