Measure would boost Medicare auditors’ training for LTCI providers A House bill aims for Medicare auditors to establish formal training programs and increase education for long-term-care insurers and other providers. Among the information that would be supplied under the bill are audit-related updates and information on common and costly payment…
Commentary: How clients can prepare to live to 90 and beyond People have an increasing chance of living to age 90 and beyond, Lynette Gil writes. In planning for that possibility, they need to consider long-term-care and health insurance while examining factors such as where they will live, how they…
N.Y. bill would highlight availability of LTCI New York lawmakers have approved a bill that would allow life insurers to use end-of-life care, such as hospice care, as a trigger for access to accelerated death benefits. Another provision in the bill would allow the state health department to work with…
Commentary: A changing landscape for long-term care Medical advances have led to people living longer, which means more people will need some form of long-term care, writes Craig Brimhall of Ameriprise Financial. Most LTC policies pay benefits to the insured, rather than directly to a nursing home, giving people and…
N.Y. bill would highlight availability of LTCI New York lawmakers have approved a bill that would allow life insurers to use end-of-life care, such as hospice care, as a trigger for access to accelerated death benefits. Another provision in the bill would allow the state health department to work with…
Commentary: LTC riders are good “backup” to protect finances Long-term-care riders for whole life insurance policies won’t fully cover LTC needs, but they can be a “reliable backup plan,” writes Steven Johnson of Colonial Life & Accident Insurance. The riders cover many of the same services as LTC policies with…
Commentary: Combined annuity and LTC contract is a flexible solution One approach to securing long-term care without depleting your estate is an annuity with an LTC rider, adviser Bob Carlson writes. The annuity balance will go to beneficiaries upon the owner’s death if no withdrawals are made and the LTC…
Proposal aims to boost actuarial analysis in setting LTCI rates Greater actual involvement in rate requests are included in a draft of changes proposed for the National Association of Insurance Commissioners’ model rules for long-term care. Actuaries would have to demonstrate that they had taken reserve requirements into consideration under…
Commentary: New solutions are needed for long-term care Private long-term-care insurance is owned by about 12% of Americans older than 65, while long-term care is expected to be a need for 69% of seniors, writes David Blumenthal of the Commonwealth Fund. Options such as paying out of pocket aren’t suitable,…
Commentary: Annuities can provide benefits for long-term care Innovative new products have made it possible to arrange protection for what could be major medical bills in old age without taking on a long-term-care insurance policy, writes financial planner Joe Psalmonds. “Many insurance companies offer life insurance policies that pay LTC…
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