“We have seen a marked increase in the number of young men and women calling for and requesting online information pertaining to long term care insurance,” cites Jesse Slome, executive director of the American Association for Long Term Care Insurance.  The industry trade group was established to provide educational information to consumers and connect those seeking costs with knowledgeable long term care insurance professionals.

“The ideal age to learn more about long term care insurance is your mid-50s,” Slome explains.  “That is when you are most likely to be able to health qualify for this protection and premiums also are still highly affordable.  Waiting until after age 65 often results in a decline due to health or significantly higher costs.”

Over the past 60 days the Association reports receiving a significant increase inquiries by Millenials.   This is the demographic cohort with birth years from the early 1980s to the early 2000s.  “It’s true that accidents among young people can result in the need for long term care but the risk is extremely small so the increase in interest was a bit perplexing,” Slome notes.

Conversations with many of the younger individuals revealed a general lack of understanding regarding long term care and a confusion between this form of protection and traditional health care.  “The good news is that younger people are seeking information and for the Affordable Care Act to be successful, younger people will need to participate,” Slome adds.  “Planning starts with education and awareness so this all represents a very positive step.”

The Association’s director noted staff would be on hand to answer inquiries and to help individuals seeking long term care insurance costs and costs comparisons.   For additional information call the organization at (818) 597-3227 or visit their website at www.aaltci.org.   The organization does not sell insurance nor recommend specific long term care insurance companies.

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Long term care insurance Obamacare Doesn’t Include

Washington DC; August 12, 2013 – Long term care insurance is not included under provisions passed by Congress as part of the Affordable Care Act also known as Obamacare.

“We are getting an increasing number of calls from consumers wanting to know how to apply for long term care insurance once insurers must accept pre-existing health conditions,” explains Jesse Slome, executive director of the long term care insurance industry trade group.  “Unfortunately I have to tell them long term care insurance is not included under Obamacare and is only available to those who can meet health requirements.”

Consumers are expected to start investigating insurance plans available under Obamacare next month and open enrollment starts October 1st.

“The Department of Health and Human Services abandoned any plans to implement the provision calling for a voluntary long term care insurance program which would have allowed those with existing health insurance to apply,” Slome notes.  “They found the monthly premiums they’d have to charge would have been far too expensive for people to afford so they walked away and allowed Congress to repeal the CLASS Act.”

“There are about a dozen insurance companies currently offering private long term care insurance,” says Slome.  About eight million Americans have some form of protection against the significant risk of needing long term care.  “If you have some existing health conditions, we can advise whether pursuing a long term care insurance policy will even be possible.”

The American Association for Long-Term Care Insurance advocates for the importance of long term care planning and supports insurance professionals who market the complete range of planning products.

Consumers interested in learning more about long term care insurance protection can read four consumer guides providing helpful information on planning and reducing long term care insurance costs.  They can be accessed on the Association’s website at www.aaltci.org/guides and no information is required to access these guides.  To connect with a designated long term care insurance professional, a member of the Association, for information and no-obligation cost comparisons call the organization’s at 818-597-3227.

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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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