Anyone know much about long term care insurance?

I'm just overwhelmed by the information. Sometimes I think it's a great thing and I should sign up, then I read another article that makes it seem like a pathetic scam.

I don't have much in the way of family, and I'm not rich. I don't want to be a burden if I get sick.

Anyone have advice on this difficult matter?

thanks

b_b

I'm headed out tomorrow to find a long term care solution for him.

and since I'm single, would provide nursing services in my home or help to pay for a nursing home if ever needed.

What kind of benefits does it promise? (Like, how much a day?)
Did you do a lot of research before you decided on it?

b_b

I'm a Florida agent and I do believe in this coverage after having one relative on each side (my father and my mother-in-law) need the coverage and the cost having been borne entirely by the insurance company at over $700 per week in claims. Since I'm unable to respond to you privately, I'll just mention a few variables that are very important:

financial stability of the company (rated hopefully better than 'A');,

length of the policy (e.g., lifetime, 10 years, 5 years, etc.);

daily or monthly maximum amount that the company will pay once you're on claim;

elimination period, i.e., deductible in terms of days you must first pay out of pocket before the company pays;

inflation protection (if under 73 or so, it's a must, 5% compound being the best, but 5% simple is acceptable and generally far less pricey).

Wish I could help you more.

I'm eligible for the federal employee program which is MetLife I believe, but is not subsidized by the government. I am familiar with most of what you noted. The daily maximum is either $100 or $150. That doesn't seem like much these days, for nursing home care. Is that typical?

The elimination period can be chosen between 30 and 90 days.

I definitely need inflation protection as I am 50. It offers ACIO or FPO.

Is it better to get a weekly benefit than a daily benefit? It costs more but does it make more sense?
The weekly benefit is isequal to seven times the daily benefit.

The benefit period can be 3 yrs, 5 yrs or unlimited.

I read that Congress, while making it more difficult for people to give their property or other valuables to their children and thus qualify for Medicaid, has made it so there can be certain things one can do to protect some property, e.g., if you buy a $250,000 policy, you can protect that much of your house value. Do you know anything about that?

Thanks for any advice/information.

b_b

Find someone to love, better yet, who will love you, and you'll never become a burden.
Been a care giver for my wife for many years, gone outside the box for medical help and came back with a basket full, and we are both here today, yet she can be a bitch, and sometimes I think I don't like her at all, but I remember thirty something years ago, when we were both young and innocent, I guess it's just that, seeing the innocence in us all, that I can forgive everything. Just a rant, thanks for bringing this up for me. Peace

Long-term care insurance - that's a tough one and depends on your personal situation and luck. May be a good idea for you or may not. Possible you may have long-term care and not have the money to pay for health care to get to the point you need long-term care. Or it may be exactly what you end up needing.

It's the system that is broken that encourages us to "gamble" with our lives. Other examples of gambles that may or may not work for you are specialized insurance like for specific diseases. If you get the disease, might be just what you need if you get a different condition and don't have the money to pay for it - too bad.

Consider in your situation.

Overall the system is broken that encourages this type of gambling with our lives. We need to look at what other countries are doing and establish a Comprehensive National Health Care plan where people and money is placed in one risk pool to pay for health care issues.

Please join in the access to health care discussion at www.HCtalk.com - start a long-term care discussion if you like.

imo would be prevention of chronic conditions by:

taking good multivit/min daily along with other nutritional measures
such as lots of veges and fruit, avoidance of hydrogenated fats,avoidance of refined white bread products, avoidance of
high levels of high sugar corn syrup, avoidance of aspartame, etc.

avoidance of toxic exposures from toxic metals, pesticides, solvents, etc. including getting a hair element test(www.vrp.com or www.bodybalance.com or etc.) and regular blood scan periodically and tests(there are home and medical tests) for hormone problems
hypothyroid is common(you can home scan test by putting thermometer under arm before getting up for 5 minutes and see if temperature is more than a degree below 98.6 degrees and followup if so) , monitor prostrate, etc. with periodic physical

Glyconutrients also appear to have added benefits for most people(www.glycoscience.com)

and regular exercise such as walking, biking, gym, etc.