A 65-year-old female seeking $55,000 of home care benefits would pay $65 in monthly premiums according to the 2024 Short-Term Care Insurance Price Index released today by the American Association for Long-Term Care Insurance.

“Short-term care insurance is an increasingly viable option for many seniors,” states Jesse Slome, director of the long-term care insurance organization. ”The better policies available offer benefits for home care as well as skilled nursing home care. Available in many states, these policies can be very attractive for seniors, especially women.”

According to Slome, short-term care insurance policies can be especially attractive to older individuals, to those with some existing health conditions and to those who find traditional long-term care insurance too costly.

“A real overlooked benefit is the fact that these policies generally charge women and men the same amount for equal coverage,” Slome explains. “With traditional long-term care insurance, women can pay 40 percent t more than men for equal coverage because their risk of needing care and use of insurance is so much greater. The equal cost is a significant advantage that should not be overlooked by the many older women who are living alone.”

According to the 2024 Short-Term Care Insurance Price Index, a 65-year-old woman could pay $125 monthly for coverage including both nursing home as well as home care benefits. Identical coverage purchased at age 75 would currently cost $277-per-month.

Access the complete 2024 Short-Term Care Insurance Price Index at https://www.aaltci.org/long-term-care-insurance/learning-center/ltcfacts-2024.php#2024short-term.

The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions. Access the latest long-term care insurance statistics at https://www.aaltci.org/long-term-care-insurance/learning-center/ltcfacts-2024.php.

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Home care insurance up to age 89

Los Angeles, CA – Aug 3, 2015 – People associate long term care insurance with nursing home coverage but what they really want is care at home.  A new video from the national long term care insurance trade group shares information on an available option. the head of the national long term care insurance trade group.

“We get calls daily from spouses or family members who are looking for insurance that will pay for home care services,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).  “Most of the time, the individual is too old or can not health qualify for traditional long-term care insurance.

The trade group just posted a new four-minute video that shares a home care insurance policy available in a number of states.  The policy can provide up to $750-per-week for home care services when the individual meets the policy requirements.

“Traditional long term care insurance policies stop taking new applications after age 75 and most are sold with a 90-day deductible or elimination period,” Slome shares.   ”Often, especially with older individuals, home care services are desired immediately and when we find an option worth considering, we like to share it with consumers.”

The Association’s new video can be accessed at https://youtu.be/QozR9jtQtMk

Created in 1998, the American Association for Long Term Care Insurance works to create heightened awareness among both consumers and insurance professionals.  The National Advisory Center for Short Term Care Information was created to make American consumers aware of options that can affordably provide benefits for care needs.  To learn more call 818-597-3205 or visit the organization’s website at www.aaltci.org/stc.

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