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December 2016 LTC Newsletter

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LTC in the News

The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a few recent third party articles.

Top News

Federal Workers Cling to Long-Term Care Insurance

The enrollees in the Federal Long Term Care Insurance Program may hate the recent round of rate increases, but most are continuing to pay their premiums. The program has about 274,000 enrollees. Premiums for most of the enrollees increased sharply November 1st. The average increase originally proposed for the enrollees affected was 83 percent. Read more

Medicaid Still Institutionalizes the Elderly Despite Program’s Emphasis on Home and Community-Based Long-Term Care

In recent years, the Medicaid program has begun to shift the delivery of custodial care – what CMS (Centers for Medicare and Medicaid Services) refers to as long term services and supports (LTSS) – from institutions to home and community. The statistics show that rebalancing is succeeding. In 2013, for the very first time, more of the LTSS budget was spent on home and community-based services (HCBS) than facility-based care. Does this mean more Medicaid –eligible seniors now age in place and avoid nursing home placement? Read more

Increased 2017 Tax Deduction Limits for Traditional LTCi

The tax deductible limits for traditional long-term care insurance premiums paid in 2017 increased according to a just-released IRS announcement. “The tax deductibility of premiums when you purchase traditional long-term care insurance provides a real incentive for consumers, especially after retirement,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). Read more

Know the Difference: Chronic Illness vs. LTCI Riders

Baby Boomers are on the precipice of retirement, if not retired already, and many are challenged with planning for future health care costs. Life insurance with a chronic illness (CI) living benefit rider may be the perfect financial solution for long-term care needs. However, not all boomers understand how CI riders differ from long-term care insurance (LTCI) or how recent innovation has impacted CI rider designs. Read more

Here’s What You Need to Know About a Long-Term Care Insurance Policy

This is a great article to share with your clients when having a conversation about long-term care planning. It discusses the four components that determine long-term care benefits and influence monthly cost. Click here to view article.

 

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