LTC Terms

Why You Should Work with an Independent Agent for Long Term Care Insurance

Using a financial advisor to help you plan for retirement can be a great choice: it can help you get a better grasp on your finances, understand specific goals and targets for savings, and provide you with information that you otherwise might not know.

Long Term Care Residents Paying with Only Medicaid Make Up Highest Expenditures

New data says that long term care residents who qualify for Medicaid but not Medicare accrue the most expenses for their state’s program.
Medicaid Beneficiaries
The US Government Accountability Office released a report detailing the expenditures of Medicaid beneficiaries based in their form of payment.

Home Care Makes Up Most Long Term Care Claims

As the presence of long term care continues to increase across the country, more people are looking into the details of long term care and the direction the industry is moving. Though nursing homes were once the dominating care setting, recent data revealed that is no longer the case. The majority of long term care claims paid to policyholders are for home care, according to this new data.

Genworth Sees Rise in Profits in 4th Quarter

After months of focusing on cutting costs, Genworth Financial (GNW) reported their 4th quarter earnings today. The company saw an increase in profits and overall positive results during the quarter.
4th Quarter Profits
Genworth’s 4th quarter profits rose 24%, with a reported net income of $208 million, compared to a net income of $168 million in the 4th quarter of 2012.

Maryland Bill Would Create Tax Credit for Long Term Care Insurance

A new bill proposed in Maryland would create a more extensive taxpayer credit for long term care insurance policyholders.
Long Term Care Insurance Tax Credit
Senator Katherine Klausmeier (D-Baltimore) introduced SB 478 in the legislature this week. The bill would half the value of the state’s current tax credit for the first year the policyholder pays premiums.

Most Boomers Think Affordable Care Act Covers Long Term Care

Since its initial implementation, confusion has surrounded the Affordable Care Act. People are unsure about what it covers, how it affects their benefits, premiums, and hospital networks. A new study, however, shows that more people than ever believe the Affordable Care Act covers long term care costs.

Millionaires on Medicaid? Program No Longer Serves Just Those In Need

An interesting article appeared in the Wall Street Journal earlier this month that discussed the current state of Medicaid across the nation.

High Net Worth Investors and Long Term Care Insurance

Long term care insurance isn’t for every one, and many wealthy investors seem to think they don’t need a policy. Even those with an extremely high net worth are ignoring long term care insurance, according to a new study.

Maine Long Term Care Commission Suggests $10M More Needed for State Medicaid

The recently created long term care commission completed their evaluation and analysis of the Maine long term care system and released their final report last week. After taking time to study the dynamics and current trajectory of long term care within the state, the panel is now proposing an additional $10 million be allocated to the MaineCare program in 2014.

South Carolina Long Term Care On the Rise

Long term care use is on the rise around the nation as states struggle to keep up with the high demand. A recent report by the AARP analyzes the prevalence of South Carolina long term care services.

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