Revisiting Long-Term Care Insurance

Two months ago, I wrote about whether you should buy long-term care insurance (LTC). My biggest concern with this type of insurance was and continues to be the huge rate increases that consumers generally face down the road. Companies underpriced LTC insurance when it was first launched and took significant losses as a result. This was demonstrated again last week when Genworth announced it was restructuring its business following a $1.6 billion loss from its long-term care unit. As a result, many policyholders are facing …

Should I Buy Long-Term Care Insurance?

One of the most frequent questions I get from clients is whether to buy long-term care insurance. With the average cost of a private room in care facilities topping $94,000 a year, according to a 2013 study by insurer John Hancock, it’s a reasonable concern. Many of us will need some form of long-term care (LTC), so the question of whether to buy insurance to help with the associated costs is a real one. I think the decision is a very close call. At …

3 Challenges for Long-Term Care in America

Right now, at kitchen tables across America, real families are confronting the same question:  how will we care for mom or dad, or another loved one, if something happens and they can’t care for themselves without assistance?  And if and when the time comes, who will care for us? Following the Federal Commission on Long-Term Care‘s recently released report, AARP and The Hill Newspaper convened three of the Commissioners and other experts to discuss ways to improve long-term services and …

Put the Residents of Illinois Nursing Homes First

Hey everybody – Jenn here from the Communications team keeping you in the loop on what’s up in Springfield this week. Let’s talk nursing home reform… In 2010 the Illinois General Assembly passed landmark legislation to improve the quality of care in Illinois nursing homes. (WOOHOO!) Among other elements, the new law addressed staffing ratios in nursing homes. Studies have shown that staffing ratios play a vital role in the quality of care nursing home residents receive, particularly when it …