Besides coverage level, a number of other policy features are important to consider before selecting a top-quality LTC policy that best meets your needs. HIPPA tax-free limit is 2-3x the average coverage cost for LTC: The range of LTC expense varies based on where the care is received and for how long (see “LTC Facts …
A top-quality standalone LTC policy can provide guaranteed inflation-adjusted tax-free LTC benefits, should one need it, and if not, the Principal is returned. The benefit amount varies by age. Long Term Care (LTC) costs can be quite expensive. Unfortunately, Medicare does not cover LTC, and Medical requires spending down of one’s assets before coverage can …
Insurance policies with LTC coverage provide better benefits than those with Chronic Illness coverage though the qualification criteria are the same. The qualification criteria for both Long-Term Care (LTC) and Chronic Illness benefits are the same: unable to perform 2 out of 6 ADLs (bathing, dressing, using the toilet, eating, transferring and continence), or severe …
7 out of 10 seniors will require some form of LTC for an average 4 year period, if they are not able to perform 2 out of 6 ADLs. LTC costs $50-$100K a year without LTC insurance. The life expectancy in the US has been constantly improving. It used to be 62 back in 1935, …
A high-level overview of the two Medicare options available for Seniors and a comparison of its cost and benefits. Seniors who are 65 or older can choose between the two Medicare options: Original Medicare and Medicare Advantage. Original Medicare is administered by the Federal Government. It includes several parts. Part A, B and D cover …
