To cover the potential of incurring the high cost of long-term care, many seniors consider purchasing long-term-care insurance. Long-term care insurance (LTC) is not cheap but it can be a lifesaver. A good place to start your research on long-term care insurance is by checking out the Consumer Reports analysis of the long-term-care insurance options and criteria for determining which policy choice is right for you.

What is long-term-care insurance for seniors?

Long-term-care insurance for seniors covers services for people who are unable to care for themselves because of a prolonged illness, a degenerative condition, a disability or Alzheimer’s or similar condition. Generally long-term care insurance will cover custodial or personal care at home or skilled nursing care or rehabilitation at home or in a nursing or assisted care facility. Long-term-care insurance can cost between a few hundred dollars a year to over ,000 a year, depending upon the type of coverage you purchase and your age and health at the time you purchase the insurance.

When should you buy long-term-care insurance for seniors?

Many insurance companies recommend purchasing a long-term-care insurance policy anytime after age 50. Consumer Reports suggest you wait until age 65 unless you have a chronic disease or history of illness in your family. After age 65, the long-term care premiums are higher, and, you run the risk of not passing the medical tests. Once you are diagnosed with a serious condition that may require long-term care, you will not be able to get a long-term-care insurance policy.

Who should purchase long-term-care insurance?

Anyone who is currently healthy and wants to protect assets and does not have sufficient saving to cover the costs of long-term care should consider the purchase of a long-term care insurance policy. Once you purchase a policy the rate is typically locked in for the life of the policy and the policy is generally good as long as you pay the premiums.

What should I consider when selecting a long-term-care insurance policy?

Look for stable insurers that have been in long-term-care insurance business for a long time. Review the coverage the insurer offers carefully. Long-term care policies can have many exclusions and requirements that make it difficult to obtain the coverage when you place a claim. Some of the less expensive policies may cover nothing more than you are eligible for with Medicaid.

Some of the features you may want to consider include:

• Look for a flexible policy that covers alternate plans of care including home based care not just skilled nursing home care.

• Make sure there are no excluded conditions such as Alzheimer’s or Parkinson’s.

• Determine the maximum amount the policy will pay per day and how that amount is calculated.

• Determine the length of benefit period you can afford. The average nursing home stay is 2 1/2 years. You generally can select a benefit period of between 2 years and an unlimited number of years. The longer the benefit period the higher the premium you can expect to pay.

• Choose how soon you want the payments to begin after you become eligible. Usually the waiting period is between zero and ninety days. The longer the waiting period the lower your premiums will be. • Consider adding an inflation adjustment to your policy. Inflation adjustments are expensive but nice to have if you can afford to add one to your policy.

How do I evaluate which insurance company to choose?

Because you may not need your long-term care policy until years after you purchase the policy the most important choice you will make is choosing a company that is stable and will be around to make good on the policy when you need the insurance. Look at the company’s financial strength and their rating with the major rating services.

Question by SM S: Long term care premium – only for state tax return credit an no federal tax impact?
If I use itemized deduction, there is no impact on federal tax return related to long term care premium paid, correct? Only state income tax can give creidt. Right? Thanks

Best answer:

Answer by bostonianinmo
There’s no deduction for them on your Federal return. Some states do allow a credit or deduction for them; MO is one that does and there are likely others as well.

Give your answer to this question below!


Conference Members Urged to Participate in National Campaign to Inform Public about Extended Care

Novato, CA (PRWEB) April 13, 2011

Long Term Care insurance professionals are being urged to participate in a national campaign to inform the public that 3 in 4 Americans need more information and planning to prepare for extended care.

 

Harry Crosby, Director of New Agent Growth and Development for ACSIA Long Term Care Inc. (ACSIA), was one of the featured speakers at the annual meeting of the Association for Long Term Care Insurance. The annual meeting brings together the top Long Term Care insurance specialists from around the country to discuss industry issues.

 

“We need to embrace the national ‘3in4 Need More’ campaign to better help the public understand the need for a plan to deal with extended care,” Crosby said at the event’s opening day.

 

“As Long Term Care insurance professionals we need to embrace the best practices and have the training to better educate the American people and help them plan for something that impacts 70% of us at some point,” he explained.

 

In his role with ACSIA, Crosby prepares new and experienced agents to help their clients make decisions about Long Term Care planning. Mr. Crosby has authored two books on Long Term Care insurance sales and has trained and mentored thousands of new agents over his 18 year career in the industry.

 

According to Mr. Crosby, the goals of the “3in4 Need More” campaign include:
Spread the word among the public that “3 in 4 Need More” and that Long Term Care insurance is a good solution.
Support legislation that provides additional tax deductions or rebates to make Long Term Care insurance more affordable.
Encourage others in industry, education and the government to join the “3 in 4 Need More” campaign, making use of the logo and other visual creatives to spread the word.
Educate the public that Long Term Care insurance many not be a solution for everyone, but everyone needs a Long Term Care plan.

Additional information about the “3in4 Need More” campaign can be found at http://www.3in4needmore.com and on 3 in 4’s YouTube channel at http://www.youtube.com/3in4needmore.

 

About ACSIA®

Founded in 1958, ACSIA® is a leading national distributor of Long Term Care insurance. ACSIA® is a member of the LTC Global group of companies and headquartered in Fort Myers, Florida. For more information about ACSIA®, visit http://www.acsia.com.

 

About LTC Global

LTC Global is a leading independent marketer of insurance and financial products to seniors with emphasis on Long Term Care insurance, Medicare insurance products and HECM reverse mortgages. In addition, LTC Global provides capital to insurance agents and agencies through commission-based lending and renewal commission purchases. LTC Global has a national distribution network and is headquartered in Fort Myers, Florida. For more information about LTC Global, Inc., visit http://www.ltcglobal.com.

 

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This week, the New York Times reported that 90 percent of all nursing homes have been cited for violating federal health and safety standards. Even worse, 94 percent of all privately-owned facilities were cited for such violations. It is clear that nursing home abuse and neglect has become an epidemic, and anyone with a loved one in a nursing home needs to be aware of this issue.

Nursing home residents rights are guaranteed by the federal 1987 Nursing Home Reform Law. The law requires nursing homes to promote and protect the rights of each resident?.  Yet, as the New York Times recently made clear, nursing homes are not doing enough to protect their residents.

The National Center on Elder Abuse estimates at least one in 20 nursing home patients has been the victim of negligence and or abuse, though it concedes that the number is probably higher. According to the National Centers study, 57% of nurses aides in long-term care facilities admitted to having witnessed, and even participating in, acts of negligence and abuse.  Data from the U.S. Centers for Disease Control and Prevention show that nursing home neglect played role in the deaths of nearly 14,000 nursing home patients between 1999 and 2002.

The New York Times report detailed a study conducted by the inspector general of the Department of Health and Human Services.   According to the inspector general, more than 1.5 million people live in the nations 15,000 nursing homes. To participate in Medicare and Medicaid, facilities must meet federal health and safety standards. These programs cover more than two-thirds of nursing home residents, and cost taxpayers more than billion per year.

According to the inspector generals report, in the past year, poor nursing home conditions were the subject of 37,150 complaints. Of those, 39 percent were later substantiated by inspectors, and at least 20 percent involved the abuse and neglect of patients.  Whats more, 17 percent of nursing homes had deficiencies that caused “actual harm or immediate jeopardy? to patients, the report said.

About two-thirds of the nations nursing homes are owned and operated by for-profit companies. Non- profit organizations own 27 percent, while government entities own and operate 6 percent. Of the facilities owned by non-profits, 88 percent were cited for violations, while 91 percent of government-run institutions received citations. According to the report for-profit nursing homes averaged 7.6 deficiencies per facility, while not-for-profit and government homes averaged 5.7 and 6.3, respectively.

To protect a loved one living in a nursing home, it is important to understand what constitutes nursing home abuse and how to spot it. The most common type of nursing home abuse is neglect. Understaffing at nursing homes is the main culprit behind this kind of abuse. Evidence of nursing home neglect includes bedsores and stiff joints, as well as signs of depression. A patient who appears over medicated or is needlessly sedated could be a victim of nursing home neglect.  The smell of urine or feces and poor personal hygiene are hallmarks of this problem.  Extreme unexplained weight loss in an otherwise healthy resident can also be a sign of abuse. And if visitors are made to wait while the staff readies a patient to see them, – or does not allow the visit at all – neglect could be the reason.

Nursing home neglect is as much a crime as any other form of abuse. Nursing home neglect robs patients of their dignity, and it can be deadly. Neglected nursing home patients have been known to wander away from facilities, and sadly some of these patients have died of exposure. Other unattended patients have been allowed to die as a result of undetected internal bleeding or other ailments that could have been corrected with proper medical care.

Physical abuse is an unfortunate fact of life in many nursing homes. Nursing home staff are often guilty of this crime, but abuse among residents is not unheard of. About 2500 cases of physical abuse by nursing home staff are being reported each year.  While physical abuse encompasses crimes like battery, it also includes placing a patient in excessive restraints or physically confining residents for no valid reason.  Over-medicating patients simply to keep them quiet, or withholding medical care are also forms of physical abuse.

And sadly, sexual abuse also occurs in nursing homes. Again, both staff and other residents can be guilty of this type of abuse. According to a 1996 Medicaid Fraud Report, 10% of all physical abuse cases in nursing homes are of a sexual nature. Sexual elder abuse is defined as non-consensual sexual contact of any kind with a nursing home resident. Sexual contact with any person incapable of giving consent is also considered sexual elder abuse.

Often, nursing home sexual abuse goes undetected. Sadly, the physical and cognitive impairments common among nursing home patients make it impossible for them to fight off sexual assailants or report sexual abuse. Some physical signs of nursing home sexual abuse bruising around breasts, upper abdomen, or inner thigh; is often evidence of inappropriate touching or worse. Signs that a nursing home resident has been the victim of a sexual assault include bleeding from the vagina or anus; the presence of a sexually transmitted disease; troubles walking or discomfort when sitting; and irritation or itching in genitals.

If nursing home abuse is suspected, immediate action must be taken. Call 911 if a resident appears to be in immediate danger, otherwise, report the situation to an administrator. All nursing homes are required to have formal complaint procedure and a staff person who is designated to review grievances. Submit specific information about your complaints and attempts to resolve them. If the situation is not resolved, then the problem should be reported state agency charged with overseeing nursing homes.  It may be necessary to remove a resident from a deficient nursing home if the problem is not corrected. In many cases of suspected nursing home abuse and neglect, it can be helpful to retain an experienced elder abuse lawyer to take action on a loved one’s behalf.

This is for my Disability Studies class. It is about the truth in nursing homes. Working in a nursing home myself, I hope to be an advocate for those who have been abused, or a family member who has lost a loved one from abuse.

Find More Nursing Home Abuse Articles

Question by Scooter9: Has anybody heard of nursing home abuse in the Fresno area?
*******Please only serious answers*******
If u have heard of any nursing home abuse reports in the FRESNO area(they dont have to be recent) please past a link here to the website proving your answer. Also feel free to share any stories u may have relating to this topic, it would be greatly appreciated. THNXXX

Best answer:

Answer by Lincoln6
How about Nursing Home abuse in all areas? The day that George Bush left office, he snuck in legislation, limiting people’s ability to sue Nursing Homes for malpractice. Was George a corporate butt kisser or what? Many Nursing Homes at night, have one Nurse to look after 50 to 60 patients.

Add your own answer in the comments!

State putting nursing home inspection reports online
The state started putting the findings of its nursing home inspectors online Wednesday in an effort
Read more on Lexington Herald-Leader