“It is my pleasure to speak to caregivers serving consumers and families with a member suffering from Alzheimer’s Disease,” shared Slome, AALTCI’s director.  “This disease ravages millions of Americans and impacts their families and loved ones.”

As part of the presentation, Slome shared an overview of the role played by long-term care insurance, conveyed the latest data regarding long-term care insurance buyers and claimants.  “Alzheimer’s disease (AD) and related dementia issues comprise the largest claims that long-term care insurers pay every year,” Slome noted.  “If you live a long life, the chances of needing long-term care increase significantly as does the risk of suffering from AD.  There are so many long-term care insurance professionals who have been personally touched by this and thereby become passionate advocates for this important protection.”

The presentation What Caregivers Should Know About Long-Term Care Insurance is available for viewing online via the Alzheimer’s Federation website.  To access go to https://www.youtube.com/watch?time_continue=394&v=uayU-PXb4FQ.

The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning.   Established in 1998, the organization connects consumers with knowledgeable professionals who are independent advisors for no-cost, no-obligation long-term care insurance quotes and policy comparisons.

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According to the just-released 2019 Long-Term Care Insurance Price Index for individuals age 60, prices for coverage can vary significantly.  “We found a spread of over 100 percent between the lowest priced coverage from a top-rated insurer to another,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.  “Once again, it reveals the importance of comparison shopping and working with a knowledgeable long-term care insurance specialist.”

According to the Association’s 2019 Price Index, the average annual premium for a 60-year-old couple was $3,400.   ”That may sound like a lot but each spouse would have nearly $400,000 available for their care at age 90,” Slome notes.  “These policies included an option that increases the benefits by three percent annually.  If the consumer selects a lower annual growth option, say 2 percent yearly, the cost of insurance would be lower.”

Married couples often benefit from a significant spousal discount, Slome explained.  According to AALTCI studies, married couples or older adults living together purchase the majority of long-term care insurance policies the Association director notes.

The long-term care insurance expert recommends consumers consider some advantageous planning and savings strategies.   “There are smart ways to protect yourself and save money,” Slome explains.  “For example, married couples should ask if a shared care option is available.”  This option enables one spouse to use the benefit pool of the other.  “Accepting a two (2) percent inflation growth option instead of the three (3) percent can save nearly 20 percent yearly,” he adds.  These features are not offered by all insurers the Association director points out making comparison shopping vital.

The Association’s website offers consumers free access to informational guides on long-term care planning.  To obtain long term care insurance costs from a professional with expertise specifically in long term care insurance products offered by multiple leading companies call the national organization at (818) 597-3227 or visit the Association’s website at www.aaltci.org/long-term-care-insurance/free-quote/.

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Long-term care insurance covers home care for claimants

The days immediately after Thanksgiving are the ideal opportunity to conduct an evaluation of the status of aging parents and relatives recommends the American Association for Long-Term Care Insurance.

“Millions of Americans are returning from Thanksgiving visits with their aging parents and other loved ones, making this the ideal time to spend a few minutes reflecting on what you just saw,” explains Jesse Slome, director of the national long-term care insurance association.  “Nobody wants to bring up difficult issues around the Thanksgiving table but neither should you ignore signs and symptoms that you saw during your visit.”

Slome recommended taking a few minutes to reflect on what you witnessed when spending time with aging parents.  “How was their mobility?  Were they able to rise from a chair easily or did they struggle to stand up?  Did you see mail and bills piled up?  Were there light bulbs that needed replacing or dark areas that could use additional lighting?

“These are all signs that aging may be having an impact on a person’s normal ability to function and evidence that care might be needed now or in the future,” the long-term care insurance expert pointed out.

“How did the home look, were there obstacles and impediments that could cause your elderly relative to fall?” he notes.  Such items as loose rugs or low furniture such as ottomans are common causes for falls that result in broken and fractures that can have severe consequences for seniors.

According to the long-term care insurance organization, the time period following Thanksgiving is a peak time when consumers contact insurers to discuss policy provisions.  “If there’s a long-term care insurance policy in place, insurers will gladly explain the process for determining if a policyholder is able to start to claim benefits,” Slome notes.  “For the millions without such insurance, taking measures to ensure a safe home and to have a family plan of care in place is equally important.”

“Many family members will be gathering again at Christmas,” Slome states.  “Your post-Thanksgiving evaluation can result in an action plan of steps you can implement when you return.  The greatest gift of love you can give is ensuring someone remains safe and healthy for another year.”

The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning and helps consumers connect with knowledgeable professionals who are independent advisors.  Consumers looking for local long-term care insurance agents or cost comparisons should visit the Association’s website at www.aaltci.org or can call the organization’s national headquarters at 818-597-3227.

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Jesse Slome, leading long term care insurance expert, director AALTCI

The American Association for Long-Term Care Insurance announced support for the AARP-coalition seeking continuation of the medical expense tax deduction.  Premiums for approved tax-qualified long-term care insurance may be a deductible expense for individuals, a significant benefit for seniors during retirement.

“There are millions of seniors who have limited retirement income who also face medical costs,” declares Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).  “They need this deduction and taking it away while giving tax deductions to millionaires would be an affront to American seniors.”

The AARP-led coalition reportedly delivered a letter this week to leading U.S. Senators asking them to continue their fight to maintain the medical expense deduction.  The coalition includes the American Health care Association, the Alzheimer’s Association, the American Heart Association, the American Psychological Association, the March of Dimes and the National Committee to Preserve Social Security and Medicare.

“We are tiny by comparison but this is a most worthy effort we are proud to support,” said Slome.  The organization advocates for the importance of long-term care planning and supports insurance professionals who offer various planning options.  “There are millions of seniors who purchased tax-qualified long-term care insurance policies who would lose the option to deduct premiums at a point when living off limited retirement income and Social Security.”

According to the Association, roughly eight million Americans have some form of long-term care insurance.  Most policies sold over the past decade met the IRS established tax-qualified standards, Slome notes.  “Currently, only a small percentage of long-term care insurance policies now sold meet the requirements to be tax deductible but it still a vital benefit that should not be taken away from America’s retired seniors.”

For a couple who are both older than 70 and paying for long-term care insurance, the maximum allowable amount eligible for the deduction calculation would be $10,400.  For an individual, age 65, the maximum allowable amount would be $4,160 according to AALTCI.   “The IRS allows you to deduct qualified medical expenses that exceed 7.5% of your adjusted gross income for 2018,” Slome explains.   “Beginning January 1, 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of their adjusted gross income.”

The American Association for Long-Term Care Insurance advocates for the importance of planning and helps consumers connect with knowledgeable professionals who are independent advisors.

Consumers looking for local long-term care insurance agents or cost comparisons should visit the Association’s website at www.aaltci.org or can call the organization’s national headquarters at 818-597-3227.

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Long-term care insurance covers home care for claimants

To create heightened awareness of the fact that most long-term care insurance claims begin in the home, the American Association for Long-Term Care Insurance (AALTCI) has released a new infographic.

“More than half of all newly opened long-term care insurance claims begin with the policyholder receiving care in their own home,” states Jesse Slome, director of long-term care insurance organization.   “Too many people only associate long-term care insurance with care received in a skilled nursing home setting which simply is not the case.”

According to a study conducted by the association, some 52.1 percent of all new long-term care insurance claims that started in 2017 began in the home setting.  AALTCI created a special infographic that will be available to requesting members that promotes this important fact.  The Association develops multiple tools that can be used by agents who market insurance products.

“We know that consumers want to remain in their own homes and having a long-term care insurance policy can make it easier for them to do just that,” Slome shared with top LTC experts.   “Home care benefits from a long-term care insurance policy is one fact that surprises consumers,” Slome adds.  “The other is that policies, especially for those wanting home care benefits, can be more affordable than many people think.”

In addition to traditional LTC policies, in many states consumers can obtain short-term care insurance coverage that will provide home care benefits for up to 360 days.  “A significant percentage of home care claims last one year or less, making this a very viable and affordable option,” Slome suggests.

Consumers who want to learn more about long-term care insurance costs and planning options can call the American Association for Long-Term Care Insurance at 818-597-3227 or visit the organization’s website at www.aaltci.org to find and connect with local LTC insurance professionals.

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“Anyone who has visited a skilled nursing home facility quickly realizes what a difficult job those working there face,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI).  “That said, the reports are extremely concerning and a reason more consumers will want the means and option to be cared for in their own home.”

Reports have stipulated that patients in the nation’s 15,500 nursing homes are given antipsychotic drugs used as chemical restraints especially for those patients suffering from dementia.   These drugs are intended for people with severe mental illness.

“According to a report aired today by NPR, some 300,000 nursing home residents are currently receiving antipsychotic drugs,” Slome adds.  “The report indicates they are administered to suppress the anxiety or aggression associated with Alzheimer’s disease and other dementia.”

“Consumers continue to associate long-term care insurance with nursing home care,” Slome advised a group of long term care insurance specialists this morning.
“The industry keeps strengthening that association with many reports citing costs.  Instead, we should be focusing on the fact that long term care insurance pays for home care services which is what patients want and can provide a greater degree of control over situations like this.”

Slome urged the agents to focus on the fact that just over half of all new long term care insurance claims begin and end paying for home care services.  “Until you break the cycle of connecting your product with something people don’t want and now have an even greater reason to view it negatively, you won’t see consumers view this protection positively,” Slome admonished.

To learn more about how long term care insurance can pay for quality home care services, call the Association at 818-597-3227 or visit their website at www.aaltci.org.

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Long term care insurance experts call for no obligation costs information

“Long term care insurance plays an increasingly important role paying for care needs and protecting retirement plans,” declares Jesse Slome, executive director of the American Association for Long Term Care Insurance (AALTCI).  The organization released industry claim projections today based on analysis by leading independent actuarial experts.

In 2012, long-term care insurers paid $6.6 Billion in claim payments to some 264,000 individuals according to AALTCI.  “By 2032 insurers are expected to pay $34 Billion-a-year in benefits a 415 percent increase,” Slome reports.  “The quadrupling in benefit payments is the result of aging of policyholders, policy value increases and the continued growth of individuals purchasing protection,” Slome explains.  “State regulations require insurance companies set aside significant reserves ensuring that today’s insurers are prepared to pay increasing claim costs in the future.”

The Association study focused on traditional long term care insurance policies purchased by individuals or offered to employees at the worksite. “Billions more in yearly long-term care benefits will be paid to the growing number of people who are purchasing hybrid products including life insurance policies that offer long term care benefit riders,” Slome adds.  The Association reports that roughly eight million Americans currently have some form of long-term care insurance protection.  Over 320,000 individuals purchased new coverage in 2012, an increase over 2011, according to the 2014 Long-Term Care Insurance Sourcebook published by AALTCI.

“Taxpayer supported government programs like Medicare and Medicaid simply cannot afford to pick up the growing cost for care as today’s Baby Boomers reach the age when most long term care is needed,” Slome concludes.  “Private long-term care insurance will play an increasingly important role providing individuals with choices and options not available elsewhere.”

The Association recently issued a report citing the largest long-term care insurance claims paid in 2012.  “The largest claim for a female policyholder has reached $1.8 million with the claim lasting nearly 16 years,” Slome notes.  “The largest claim for a male policyholder has reached $1.3 million.”  The vast majority of long-term care insurance claims begin after the policyholder reaches age 70 according to Association research.

“A healthy 60-year-old woman today has a 70 percent chance of reaching age 85,” Slome says.  “If you live a long life, the risk of needing long-term care is enormously high and most people have no plan in place to deal with this reality.”  The long-term care insurance expert recommends individuals interested in long-term care insurance as an option commence planning in their 50s.  “One must health qualify for insurance coverage and health starts to change after age 60,” Slome shares.

For more information, visit the American Association for Long-Term Care Insurance’s website at www.aaltci.org or call (818) 597-3227.

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“The Wall Street Journal reported this week that as baby boomers enter old age, nursing homes will face a serious labor shortage,” explains Jesse Slome, AALTCI’s executive director.  “Their current workforce is old and beginning to retire and finding and keeping workers who will accept minimum wage is difficult at best.”

Slome was speaking to consumers about the importance of long-term care planning and benefits of long term care insurance.  “There are about 40 million Americans currently over age 65, but that number is projected to reach 73 million by 2030,” Slome shared.  “The vast majority have no plan in place and will rely on whatever government and charity programs will exist at that time.”

According to U.S. government estimates, the growing population of elderly will require five million direct-care workers in 202.  “That’s nearly 50 percent more than the current workforce,” Slome shared.  “Nursing homes will do their best but how much quality can you provide when workers demand more and government programs pay less.  The formula just adds up to poorer quality for those who can not afford to pay themselves.”

Slome refers to long term care insurance as today’s ‘nursing home avoidance’ protection.   “Insurance provides you with the ability to receive care at home and avoid going to a nursing home,” Slome adds.  “Medicaid, the government’s program for the poor will be sending more people to nursing homes and then limiting the payments.  If you want options to avoid that situation, start saving now or have some insurance to help pay part of the costs for home care. ”

The Association recommends a “Good, Better, Best” approach to long term care insurance protection.  “Good coverage may only pay half the cost with you paying the rest from Social Security or savings,” Slome explained.  “But you’ll be able to get better care and access to workers when you have the ability to pay, and that’s an advantage those without long term care insurance will not enjoy.”

Established in 1998, the American Association for Long-Term Care Insurance is the national trade organization based in Los Angeles, California.  To connect with a designated specialist for no-obligation long term care insurance costs from 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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“Long term care insurance will become known as nursing home avoidance insurance,” predicts Jesse Slome, executive director of the American Association for Long Term Care Insurance, the national trade group based in Los Angeles, CA.  “Medicaid already underpays for every patient and the pending Federal budget talks are only going to make matters worse.”

According to the study released by the American Health Care Association, the average shortfall amounted to $22.34 per patient day.  “For a two year nursing home stay, Medicaid is underpaying by $16,300 an amount that nursing homes expect to cover from payments from private-pay patients,” Slome explains.  “That’s an unsustainable model and people will understand that inevitably there will be two classes of care, one for those with the ability to pay and the other who must depend on whatever government programs exist at the time.”

The estimated typical Medicaid shortfall for 2012 of $22.34 per Medicaid patient day was reportedly 14.3 percent higher than the preceding year’s projected shortfall of $19.55 the report notes.   Researchers point out that for a typical nursing home facility with 100-beds where 63 percent of residents rely on Medicaid for coverage, this shortfall would mean a loss of more than $500,000 annually.

“It’s not an ideal situation but it’s a real issue and unless the taxpaying public has a significant change of heart and chooses to pay more taxes to cover all the future needs of Medicare and Medicaid, the shortfall will only grow,” explained Slome.  The national long-term care insurance expert noted that as awareness of the issue grows, people will realize that even a basic amount of long-term care insurance can help them avoid becoming dependent on family members or a deficient government program.

“We have millions of people who have no plan in place, find a million excuses for procrastinating and then are forced to depend on whatever government programs exist.” Slome adds, urging the membership of the organization to play a role in educating the American public.

Consumers seeking information on long term care insurance costs or looking to connect with a designated professional can do so via the organization’s website or should call the Association at (818) 597-3227.   Established in 1998, the American Association for Long-Term Care Insurance is the national association serving insurance and financial professionals who provide long-term care financing solutions.

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“While most long term care takes place today in the home, people still want to prepare for what we refer to as the worst case scenario, which is a nursing home stay,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance.  The organization publishes independently conducted research in their 2012 Long Term Care Insurance Sourcebook.

<h2>Long Term Care Insurance – Nursing Home Avoidance Insurance</h2>

According to the data that reported the length of stay in a nursing home since admission, nearly a quarter (24.5%) of individuals under the age of 65 had been residents for three months or less.  “About the same percentage (24.2%) had been there for between one and three years,” Slome notes.  The study reports that 27.6 percent had been residing in the nursing home for three years or longer.

The study revealed compared those with stays of three years or more and found that 27.5 percent of women were residents longer, compared to 21.1 percent for men.  “There’s no question that because women live longer lives, their risk of needing long term care services, which could take place in a skilled nursing home facility is greater,” Slome, one of the nation’s long term care insurance experts reports.  “That is a reason we urge both women and men, but especially women, to do some long term care planning prior to reaching Medicare-qualification age.”

November is Long Term Care Awareness Month and the trade group urges individuals to take 10 minutes to learn more about the issue.  The organization offers four excellent consumer guides that are available online addressing ways to plan for the long term care risk and providing information relevant for those who may want to consider long term care insurance.  The guides can be accessed at http://www.aaltci.org/guides.

Established in 1998 as a non-profit trade group, the Los Angeles, California-based American Association for Long Term Care Insurance advocates for the importance of planning for long term care and supports insurance and financial professionals who market LTC insurance.  The Association established November as National Long Term Care Awareness Month in 2001.  To learn more about long term care insurance costs call the organization’s offices at (818) 597-3227 or visit the Association’s website.

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