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February 2019 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

2019 Tax Guide

Use this updated tax guide as a reference throughout the year. Click here to view.

The Largest Individual LTCI Claim of 2018

Seven insurers share their largest claims they still had open as of Dec. 31, 2018. At each of those insurers, the largest open claim was for more than $1 million. At several, the largest open claim has surpassed the $2 million threshold. Most of the largest claims have been open for at least 11 years. Read more

Good News for Indemnity Based LTC Coverage

The 2019 HIPAA per diem rate for LTC has been raised to $370 per day. This is particularly good news this year as there was some preliminary concern that it would be lowered in 2019 (due to the Tax Cuts & Jobs Act) instead of increased as has been the norm. Read more in this article by Shawn Britt of Nationwide.

Sandwich Generation: When Insurance and Caregiving Collide

Sandwich Generation: a person who is sandwiched between caring for aging parents while also caring for children at home.

Securian Financial recently conducted a survey of more than 800 people who are currently providing, or who have provided, unpaid care to a parent, in-law or spouse who is aging, or has a disability or chronic disease. Here’s what was found: The 60% of caregivers spend more than 10 hours per week caring for a family member, and about one in four spend more than 20 hours weekly. Read more

CT Bill to Establish a Personal Income Tax Deduction for Long-Term Care Insurance Premium Payments

A bill to establish a personal income tax deduction for long-term care insurance (LTCi) premiums paid is being put forth in Connecticut. This would benefit the people of Connecticut as the state does not currently have any state tax incentives for LTCi premiums like many other states. View State Tax Incentives for LTCi Premiums

75 Must-Know Statistics About Long-Term Care: 2018 Edition

If there’s a single unsolved problem in the retirement plans for many middle- and upper-middle-income adults, it’s what to do about long-term care costs later in life. Read more

Adding a Professional Caregiver to Your Team

Distance does make things a little more complicated when your parents are aging as it’s not always realistic for you to move closer to them or to uproot them and bring them to your home territory. There are ways to foster their independence and success at home. Once you’ve built a care network, you may also want to consider a professional caregiver from a trusted home care provider. What can a professional caregiver do to help? There are a wide range of non-medical services available, from meal prep and laundry, to help with light housework, to medical appointment transportation and more. Some partner with a professional caregiver simply for the companionship benefits. Moreover, you can still organize and coordinate this care, even if you don’t live locally.

A professional caregiver can be your eyes and ears on Dad, or the extra hands Mom needs around the house. Find out all the ways we can surround an older loved one who doesn’t have family nearby.

Source: January 2019 Visiting Angels Newsletter

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