Courtesy MetLife MetLife Mature Market InstituteÛªs 2012 market survey shows that average national long-term care costs continue to rise. The national average annual charge for a private nursing home room rose to $90,520 this year, while semi-private rooms climbed to $81,030 and assisted living residency jumped to $42,600. Nursing home...
Tag: paying for long-term care
Long-Term Care Insurance May Be a Dying Breed (VIDEO)
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Long-Term Care Insurance May Be a Dying Breed
A report earlier this fall by MoodyÛªs Investors Services – ÛÏLong-Term Care Insurance: Sector ProfileÛ – says that despite the need for long-term care insurance, the productÛªs future is in question because of persistent losses and a challenging operating environment. The benefits under early policies were often too generous relative...
Financial Ruin Possible for Seniors with Dementia (VIDEO)
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Financial Ruin Possible for Seniors with Dementia
A new study asserts that If seniors have to pay a higher portion of their medical costs, it could lead to their financial ruin, especially if they have dementia.åÊ There is no doubt that healthcare costs are rising and the public has to shoulder more of the burden. Various Medicare...
Prudential Pulls Out of Individual LTC Insurance – The Story Behind the Story
åÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊ ÛÏEveryone is entitled to their own opinion, but not their own factsÛåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊåÊ Daniel Patrick Moynihan A guest blog from Raymond Lavine/ www.lavineltcinsurance.com / 253.778.6831 or 888.222.1789 / lavineltcins@gmail.com Û¬Û¬Prudential Insurance Company announced that they will no longer offer LTC plans to individuals but will continue to offer long-term care...
Medicaid – You May Need It so Know About It
The Perceived Medicare Safety Net According to reports from McKnights, very few retirees see Medicaid as having a role in their long-term care needs. 10% of pre-retirees and 7% of retirees think Medicaid will pay the majority of their costs for three months in a nursing home. Only 32% of...
2011 Cost of Long-Term Care Study Releases Findings
John Hancock Financial (John Hancock) recently announced the results of its 2011 cost of care study, which found that long-term care (LTC) costs have continued to increase, but not as much as other goods and services. @Paul Burns, Getty Images The study surveyed more than 11,000 providers, including nursing homes,...
Emeritus Senior Living has partnered with Life Care Funding Group LLC
Emeritus Senior Living has partnered with Life Care Funding Group LLC to educate seniors about the financing options available for covering long-term care, including assisted living. Emeritus, one of the largest assisted living chains, entered the alliance to raise awareness of the Assurance Benefit offered by Life Care Funding, Portland,...
Cost of Assisted Living May Be Tax Deductible
The cost of assisted living may be deductible on Federal income tax returns. The IRS has certain guidelines to determine eligibility. The cost of housing and meals and certain personal care services may be deductible; the determining factor is generally the inability to perform at least two activities of daily...