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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“Short-term care insurance is one of the best kept secrets for men and women who have issues when it comes to long-term care insurance planning,” states Jesse Slome, director of the American Association for Long-Term Care Insurance.

“It is the ideal option for those who cannot health qualify, or those who are too old or who merely want a lower-cost option.”

Short-term care insurance policies are available in many states.

This special form of protection can provide similar benefits to traditional long-term care insurance.  While traditional long-term care insurance companies generally stop accepting applications after age 75, short-term care policies may be purchased up to age 85.

“Polices can pay for care at home as well as in skilled settings such as nursing homes,” Slome explains.  “There are some significant differences and even some advantages that make this an option worth considering.”

The long-term care insurance expert notes that short-term care insurance policies are generally simpler to health-qualify for.  “There are plans with just a few health-related questions,” Slome adds.  “Many older men and women have some existing health issues that make them ineligible for traditional long-term care insurance.  Short-term care coverage may be just what the doctor ordered.”

Short-term care insurance policies generally charge women the same premium as men according to Slome.  “That can be a significant advantage especially for older women on their own,” he notes.  Traditional LTC insurance policies generally charge women around 30-to-40 percent more than men.

The Association’s 1-Minute Primer provides an overview of the benefits of these policies.  A map showing states where the policies are available is included.  Pricing examples for both men and women ages 65 and 75 are shown.

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.

To access the short-term care insurance information, visit the organization’s website at https://www.aaltci.org/short-term-care-insurance/.   To obtain short-term care insurance costs from a specialist in both short-term and long-term care insurance call the organization at 818-597-3227 or visit their website www.aaltci.org.

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“Selling traditional long-term care insurance has become harder because policies cost more and it’s harder today to meet the required health standards,” acknowledges, Jesse Slome, head of the American Association for Long-Term Care Insurance.  “There are millions of aging baby boomers who still want to do some long-term care planning and that’s why we are helping agents learn about other options that are available.”

The special 45-minute webinar will be held Tuesday, January 24 beginning at 1:00 Eastern time.  Insurance agents can access the webinar for free although the Association notes that space is limited.

To reserve a place for the program go to https://attendee.gotowebinar.com/register/5031731724644246017

“Short-term care insurance products offer a very viable alternative for consumers,” Slome notes.  “The policies which can pay for care at home, in an assisted living community or in a skilled care center, generally provide benefits for up to one year.”  A number of major insurance companies currently offer products and Slome notes that others have expressed interest in the growing potential marketplace.

Slome is founder and director of the American Association for Long Term Care Insurance and the National Advisory Center for Short Term Care Information.  He is recognized as one the nation’s leading consumer advocates for informed and reasonable insurance planning and helps agents who want learn more about marketing and selling insurance and financial products.

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“We are talking about women who are 60 or older and were never married, are divorced or widowed and there are millions of them,” shares Jesse Slome, Association director.  Slome announced plans for a special agent webinar on July 12 that will explore an option for older women who are on their own.

“Older women who are alone face a double whammy,” Slome explains.  “Women have the greatest risk of needing long-term care simply because they tend to live longer than men,” the expert notes.  “But, women who are single, divorced or widowed tend to have lower incomes and retirement assets making traditional long-term care insurance difficult to afford for man.”

The webinar will focus on an available short-term care insurance policy now being offered by Standard Life and Accident.   “We are going to explore how a 65-year old woman can pay $100 a month for $140,000 of benefits available for care in a nursing home or even for some care in their own home.”

Most traditional long-term care insurance policies today are purchased by couples, a trend Slome hopes to change.  “The first step is educating insurance agents who for too long have overlooked this market or shied away from it because of the price of coverage.”

Slome is founder and director of the National Advisory Center for Short-Term Care Information an organization which advocates for greater consumer education and supports insurance professionals who market short-term care insurance products.  For more information, visit their website at www.shorttermcareinsurance.org.

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National Advisory Center for Short Term Care director expert Jesse Slome

Los Angeles, CA – April 20, 2016 –  Sales of short-term care insurance grew in 2015 according to a just-released industry report from the National Advisory Center for Short-Term Care Information.

“Insurance agents are selling more short-term care insurance to seniors to fill gaps in Medicare and as a long-term care planning alternative when cost, age or health is an issue,” explains Jesse Slome, director of the National Advisory Center.  Slome also heads the American Association for Long-Term Care Insurance (AALTCI).    The organization analyzed sales and claims data from seven leading short-term care insurance companies.

In 2015, sales of short-term care insurance policies increased by 19.6 percent compared to the prior year according to the study.  Short-term care insurance policies generally provide coverage for up to 360 days and can pay for home care assistance, assisted living and skilled nursing home care costs, Slome explains.

“These policies are ideal for individuals concerned about the cost of traditional long-term care insurance,” Slome adds.  “It’s a great option for people who waited too long to start the long-term care planning process.”

According to AALTCI, some 41 percent of long-term care insurance claims last one year or less.  “For many people, a year of short-term care insurance coverage is all they’ll need,” Slome explains.  “Plus, it can be easier to qualify to receive benefits, a definite advantage when care is ultimately needed.”

The average yearly cost for individuals purchasing short-term care insurance in 2015 was $1,043, a 5.3 percent increase over the 2014 average according to the Center’s study.  The research examined data on over 37,000 policies purchased in 2015.

The vast majority of buyers (90 percent) of short-term care insurance policies were 60 or older, the analysis found.  “Some 45 percent were between ages 61 and 70 and around a third (36.5%) were between 71 and 80,” Slome noted.

The National Advisory Center for Short-Term Care Information advocates for the importance of planning and supports insurance and financial professionals who market short-term care insurance products.  To learn more call the Center at 818-597-3205 or visit their website at www.shorttermcareinsurance.org.

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Medicare Supplement agent online directory

Leading national news media are sharing best online resources for consumers seeking information on long-term care insurance, Medicare Supplement insurance (Medigap) and short term care insurance.

“Consumers are going online to seek information about insurance and we wanted to educate them about various online resources,” explains Jesse Slome, who heads up industry organizations.  The American Association for Medicare Supplement Insurance recently enlarged it’s Find An Agent online directory listing Medicare Supplement agents in all 50 states.

“We are delighted that so many major national media have shared the information with consumers,” Slome states.

Here is a partial listing of news outlets sharing the information.

Yahoo Finance
http://finance.yahoo.com/news/best-long-term-care-insurance-151800912.html

Bloomberg Business
http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201602121018MRKTWIREUSPR_____11G082542_001-1

MarketWatch
http://www.marketwatch.com/story/best-long-term-care-insurance-and-medicare-supplement-insurance-websites-2016-02-12

Arizona Republic
http://finance.azcentral.com/azcentral/news/read/31537969/best_long_term_care_insurance_and_medicare_supplement_insurance_websites

Boston Globe’s site
http://finance.boston.com/boston/news/read/31537969/Best_Long_Term_Care_Insurance_and_Medicare_Supplement_Insurance_Websites

Kansas City Star
http://markets.financialcontent.com/mi.kansascity/news/read/31537969/Best_Long_Term_Care_Insurance_and_Medicare_Supplement_Insurance_Websites

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

Los Angeles, CA – October 7, 2015 – A variety of insurance and financial products exist today that can help individuals deal with the high costs associated with needing long term care services.   The head of the national long term care insurance trade group encourages more insurance agents to broaden their horizon in order to help benefit more of their clients and prospects.

“There once were just a handful of mutual funds for consumers to choose from and today there are hundreds,” shares Jesse Slome, director of the American Association for Long Term Care Insurance, a national organization that advocates for sensible planning.   “Today there are a wide range of different ways to approach sensible long term care planning.

Slome spoke today with a leading national distributor of long term care insurance products.  “If we want to help more consumers, we need to start by educating more insurance professionals to the various available solutions,” Slome shared at the meeting.   AALTCI recently established the National Advisory Center for Short Term Care which will focus on building awareness and sales of STC insurance products.

“Short term care insurance or recovery care products are one of the newer options that can be especially attractive to those in their 60s, 70s and 80s,” Slome shared with the distributor.   On Tuesday, October 27, 2015, Slome will present four online workshops for agents interested in learning more about short term care insurance products.

“Anyone interested in learning more about these solutions can watch the live broadcast online via any computer or device with Internet access,” Slome shared.  There is no cost.

To request website access to watch the free broadcast or the entire American Association for Long Term Care Insurance Summit online virtual insurance conference, go to www.insuranceexpos.com.   Insurance agents and brokers interested in learning more about short term care insurance visit the National Advisory Center for Short Term Care website at www.shorttermcareinsurance.org.

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Sell short term care insurance. Go to http://www.shorttermcareinsurance.org

Los Angeles, CA – August 24, 2015 – Nine out of 10 individuals who purchased short-term care insurance coverage in 2014 were age 61 or older according to a just released study by the National Advisory Center for Short Term Care Information.

“Short-term care insurance is clearly seen as a benefit for seniors,” declares Jesse Slome, director of the National Advisory Center.  The new organization, established as part of the American Association for Long-Term Care Insurance, conducted the first industry benchmark study examining sales and buyer data on over 30,000 policies issued by nine leading insurers who market short-term care insurance policies.

According to the study, just over half (51%) of buyers were between ages 61 and 70.   Over one-third (36%) were between ages 71 and 80 when they applied for their short-term care insurance policy.  “Some four percent were over age 80,” Slome reports.   A number of short-term care insurance policies will accept applicants up to age 89.   Nine percent of buyers were age 60 or younger according to the study.

“These products are certainly attractive to the senior market,” Slome explains.   “Simplified health underwriting makes them ideal options for individuals seeking long-term care coverage who have health issues or for Medicare beneficiaries who have coverage gaps in their Medicare Advantage or Medicare Supplement insurance policy.”

The National Advisory Center for Short Term Care Information was founded to create awareness among consumers and support insurance professionals who sell to individuals and groups.  For more information on selling short term care insurance, visit the organization’s website www.shorttermcareinsurance.org.

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National Advisory Center for Short Term Care director expert Jesse Slome

Los Angeles, CA – August 18, 2015 – Sales of short-term care insurance increased for the first six months of 2015 according to a just released industry study.   According to the National Advisory Center for Short Term Care Information, the number of new policies sold increased 71 percent and premium increased 54 percent.

“There is heightened interest for short-term care insurance policies among agents who recognize they meet the needs of individuals, especially those who cannot afford or health-qualify for traditional long-term care insurance,” explains Jesse Slome, director of the National Advisory Center.  The new organization, established as part of the American Association for Long-Term Care Insurance, is working to increase awareness among both insurance professionals and consumers.

The first industry benchmark study conducted by the trade group collected sales and buyer data from nine leading insurers who market short-term care insurance policies.  The insurers represent the majority of short-term care insurance policy sales.    According to the study, some 30,725 policies were sold in 2014.   ”Insurers participating in the study reported 26,237 policies sold during the first six months of the year,” Slome notes.

Short-term care insurance policies provide benefits for up to one year.  “Many of these products have simplified health underwriting which makes them ideal options for individuals with health issues,” Slome explains.   Of the nine insurers participating, seven had policies that covered skilled nursing home care, eight covered home health care and six provided benefits for assisted living community care.

The National Advisory Center for Short Term Care Information was founded to create awareness among consumers and support insurance professionals who sell to individuals and groups.  For more information, visit the organization’s website www.shorttermcareinsurance.org.   For information on long-term care insurance visit the American Association for Long-Term Care Insurance’s website at www.aaltci.org.

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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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