Long Term Care Insurance Is Not Changed By Obamacare

Obamacare will not impact long term care planning and makes no changes to long term care insurance.

President Obama long term care insurance

Obamacare has no impact on long term care insurance

According to Jesse Slome, executive director of the American Association for Long-Term Care Insurance, a national trade group, consumers have the mistaken belief that Obamacare changes taking effect in 2014 will do everything from mandate insurers accept all new long term care insurance applicants to the mistaken belief that Medicare will now pay for all costs related to long-term care.

“We now regularly receive calls from consumers asking what companies will offer long term care insurance starting next year to those who already have been diagnosed with serious health issues or Alzheimer’s,” Slome explains.  “Obamacare does not change long term care insurance and insurers will continue to require that applicants meet health standards prior to being accepted for coverage.”

The national long term care insurance expert also notes that consumers calling the Association’s headquarters in Los Angeles have the mistaken belief that in 2014 Medicare will be expanded to cover long term care benefits.  “A Congressional commission has been formed to examine all options and issue a report but right now there are no changes and none likely to happen for many years, if then,” Slome adds.  “In fact, the debate about curtailing Medicare and Medicaid expenditures will likely heat up as part of the 2016 Presidential election so talk of cuts in benefits and increases in taxpayer contributions is far more likely a future outcome.”

Slome advised individuals in their 50s and 60s to start thinking about long term care planning.  “Chances are you are going to live a long life and that will entail needing long term care at some point,” he declares.  “Your 50s and 60s are the sweet spot when you have the most time to build a plan which may or may not include long-term care  insurance.”

For long term care insurance costs or to connect with a designated specialist, a member of the American Association for Long-Term Care Insurance, visit the organization’s website or call 818-597-3227.

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