Frequently Asked Questions

Don't confuse an employer's disability insurance with long-term care. With a disability policy, you're replacing a portion of your income if you can't work. It does not pay for long-term care.

Long-Term care can be costly if you aren’t prepared. We look at types of care, payment methods, and typical costs for different long-term care types in California.

Many insurance companies offer an optional feature for couple's to 'share' their Long-Term Care Insurance benefits. This rider is available for spouses or domestic partners when they apply for coverage.

Dave Ramsey is an author and well-known host of a national radio show. He helps people be smarter financially. Ramsey understands that rising long-term health care costs can adversely impact your savings and lifestyle. He believes Long-Term Care Insurance is definitely worth it due to the high risk of needing care.

These increases are primarily on those “legacy products” that were developed and sold under old rules and old assumptions. Today’s Long-Term Care Insurance is much more rate stable.

When you own an LTC Insurance policy, how long do you have to wait until all the benefits are available to you? Generally, there is no waiting period outside the elimination period (deductible based on days).

Long-Term Care Insurance often has a benefit period; however, it usually is not a time limit that defines the amount of care you will be able to receive. The benefit period helps calculate the amount of money in your policy at any given time.

The best Long-Term Care Insurance policy is the one that is paying benefits when you need care in the future. The process can be easier if you understand the steps and seek professional help. LTC NEWS can even provide you with free, no-obligation assistance with this process.

Very few LTC Insurance companies have pre-existing health exclusions. You need to have reasonably good health to obtain coverage. You don't need to have perfect health.

Not everyone needs Long-Term Care Insurance, although for most American families having a plan offering guaranteed tax-free benefits for their choice of quality care will protect savings and ease family stress.

Short-term care insurance policies generally act as cash indemnity plans that cover one year of care or less, though some can extend to approximately two years. In this article, we discuss the benefits of short-term care insurance, when you’d consider obtaining it, and cost considerations.

The last thing you want is to own a Long-Term Care policy, start to have your health decline, and then have the company cancel the policy. Luckily, this can't happen. There are many rules and consumer protections in place which will give you and your family peace of mind.

If one spouse/partner gets declined by the insurance company, the one who was approved will still get their policy. There are steps the other person should take right away.

If you own a Long-Term Care Insurance policy, your benefits will follow you when you move. Some companies also offer international benefits. However, if you think you will move, consider the costs of care in that location when designing the policy.

Most people purchase LTC Insurance in their 50s, some even in their 40s. Premiums are lower at younger ages, and your health is better - giving you more options. But what happens if you can no longer afford your policy? There are options.

IRA funds can count against Medicaid eligibility, leaving people unsure how to handle their finances in a way that best maintains their long-term financial health. We walk through some considerations and challenges in handling IRAs and Medicaid applications.

There are more Long-Term Care Insurance options available today than ever before. How do you compare these options and insurance companies? Tax-qualified LTC Insurance must meet federal guidelines under Section 7702(b) of U.S. Code. Differences include premiums, underwriting, and the financial ratings of the companies.

Long-Term Care Insurance can be a great decision, but it’s important to know how to design a policy catered to your needs and how incomplete information can lead to misunderstandings on the importance of insurance or more expensive coverage.

Long-Term Care Insurance riders provide extra benefits or help customize your policy at an extra cost. There are multiple types of LTC Insurance riders. We discuss these riders and how they affect Long-Term Care Insurance policies.

Not everyone has the budget for complete Long-Term Care Insurance coverage. A smaller policy will help reduce the burden and anxiety placed on your family while providing you with quality care choices. Small plans can still offer many hours of in-home health care and other services every week.

Clark Howard is a famous consumer expert and former host of the nationally syndicated Clark Howard Show. He continues to help people nationwide on his website and podcasts. Howard believes being prepared for future long-term health care expenses is a vital part of retirement planning.

Can you exhaust all the benefits in a Long-Term Care Insurance policy? Maybe. There are still unlimited benefit plans available; most LTC Insurance creates a benefit account that increases with inflation. LTC Insurance is custom designed.

Some people say you don't need to worry about long-term care unless you have poor health. If you wait until you have poor health, it is probably way too late. Good health today means a longer lifespan. In the future, your health, body, and mind will decline.

When shopping for Long-Term Care Insurance, some people wonder what happens if you exhaust your benefits. While you hope this never happens, it can depend on the total coverage in your policy.

What is long-term care? How is long-term care different from health care? In this article, we’ll answer your questions about long-term care and discuss common long-term care services and facilities. 

Few people like to buy insurance but are there other options to plan for future long-term health care? There are several ways to prepare, but few may work in your situation.

What happens to unused Long-Term Care Insurance benefits if you never need care? You and your family are probably grateful that you never had to go through what so many others go through. Can your family get the money back?

When is the best time to apply for Long-Term Care Insurance? Can you buy insurance at a certain time to save money? In this article, we’ll discuss factors that affect the best time to apply for coverage.

No, most of the time, Long-Term Care Insurance is very affordable. However, it can be more expensive if you are older or have significant health issues. Premiums can vary over 100% between insurance companies for the same benefits. Plus, Long-Term Care Insurance is highly regulated by both the states and the federal government.

Are you interested in finding a caregiver for your senior loved one? Learn more about all the important questions to ask when searching for a care provider.

Unless you have lived through a long-term health care event with a family member, you may not be aware that your health insurance or Medicare will not pay for extended care. Medicaid is the medical welfare program, and you must have little or no income and assets to qualify.

Generally, no. Tax-qualified Long-Term Care Insurance benefits come to you tax-free. Insurance companies that pay long-term care insurance benefits are required by the Internal Revenue Service (IRS) to provide claimants with a 1099 LTC.

You determine the benefit levels when you apply for Long-Term Care Insurance. However, the costs of long-term health care services vary nationwide. If you know you will be moving, does it impact planning? The answer is yes.

Some consumers get frustrated that they have to speak with an agent to get quotes for Long-Term Care Insurance. However, LTC insurance is medically underwritten and custom-designed. Questions must be asked.

Some people think Long-Term Care Insurance will only pay for nursing homes. Not true. Today's Long-Term Care Insurance is comprehensive and covers all types of care, including in-home care. You get to decide how you use benefits once you qualify for them.