Readers' Comments
Total Comments: 18
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An Introduction to Long Term Care Insurance
Total Comments: 18
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| L Income | $14.1434 | +0.0004 | +1.89% |
July 30, 2010
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re: Long Term Care
Equity ThinkTank
Fri Dec 21, 2007 11:02 AM
Post Reply
It's "great" to see the comments regarding LTC.
With Long Term Care Awareness Week (Nov 4th - 10th) being made official earlier this year by the U.S. House of Representatives (H. Con. Res. 133), makes these reads even better.
Being advocates for responsible retiring its our passion to let America know how extremely important long term care planning, retirement planning and life planning in general are and the affect they have on us, our family and the "legacies" we leave behind.
Continue your reading and posting so everyone at least becomes aware of the important subject...
long term care insurance
the state
Fri Dec 21, 2007 4:54 PM
Post Reply
until that industry comes into overall substantial compliance 365 days a week, I am hard pressed to spend my hard earned dollars on a potential need for custodial care in an environment in which I will very likely sustain injuries, suffer abuse, or acquire life threatening infections.
Irony
DOD
Sun Dec 23, 2007 6:24 AM
Post Reply
I would probably had signed up when the plan was first introduced had I not been in a recovery facility after an accident (not my fault) that crippled me. They had an open season a couple of years later and I found myself excluded from consideration in the fine print. The irony is that I am currently off on use or lose because I never miss a day of work. Husband works in state government Dept.Labor and says that these LTC insurers are not very reliable in many cases. They delay and search for loopholes even in clear cases. So maybe I lucked out when I missed that first open period; time will tell and it is really a mute point.
Long Term Care Insurance
Treasury Dept.
Mon Jan 7, 2008 3:05 PM
Post Reply
At the age of 50, I signed up for the LTC insurance when it was first open up to Fed employees. I took the inflation option with the insurance paying $106 per month. Actually, you take a gamble when you sign up for the insurance, because you may never will need or use the benefit. I looked at my family medical history and other instances and considered that it's a possibility I might need assistance in my later years. If I did not have the insurance, I would not have the funds to take care of my needs in my later years.
Federal LTC Insurance Not Available to Disabled
SSA
Wed Jan 9, 2008 2:14 PM
Post Reply
I am a full time career Federal employee with a mobility disability. I wanted to get Long Term Care Insurance under the plan offered to Federal employees. And found out that some people who are full-time Federal employees can't get it. Specifically, if a person suffers from a mobility disability or have certain diseases such as diabetes, this benefit is flatly denied to that person.
As a job benefit, these actions smack of a violation of the Americans With Disabilities Act. One of the people who handles the Federal LTC plan told me that a court case is wending its way through the courts where a Federal employee has sued, claiming discrimination based on disability. I was told that lawyers for the government's plan are trying to tie up the lawsuit in technicalities involving jurisdiction.
I truly hope that this employee wins the lawsuit and get awarded ample compensation because this violation of the ADA is outrageous.
Long Term Care Insurance
GSA
Thu Jan 10, 2008 7:05 AM
Post Reply
My brother-in-law was covered by an LTC plan, medicare and BC/BS tie in plan. When the LTC coverage ran out after three years, it could not be extended because of his age and many conditions. For the last three years of his life, my sister paid up to $8000 per month out of pocket to care for him in a nursing home. This was AFTER the other insurances had paid their portions. LTC is always a good plan, especially since under the federal plan the rates stay the same. I would rather have the peace of mind knowing my children won't have to pay to care for me if something should happen. I pay $30/pp and it is well worth it, even after I retire. I am so glad I signed up the first time it was available. If a government employee missed the original sign up, one can still make application, it is a longer process and more questions, but well worth it. LTCFEDS.com is the website or your personal insurance provider should be able to advise you. But check around, it can't hurt.
LTC only protect your assets?
Spawar
Fri Mar 7, 2008 10:12 AM
Post Reply
I think with LTC you are buying much more than protection for your assets. You are buying control over what and where you would be cared for. In California, if you do not have LTC insurance, Medicaid will take care of you (after you have spend down), but ON THEIR TERMS. For example, I have a friend who wanted to take of four LTC patients in her home and California will pay her $1000 per month per patient. Imagine what kind of care you would get. Having a good LTC insurance may make the difference between being cared for in a "nice" facility or just existing in a lonely room run by nonprofessionals.