LTC Health Issues

Introduction to LTC Health Issues

  We hear constantly about health care in America.  There is constant debate about the best way to deliver hour health care services, how to insure that even the poor receive adequate benefits, and even how to deny coverage to certain segments of people, such as illegal aliens.  Unfortunately too often the need for long-term care services as we age is often not part of the discussions.

  It’s not that Americans are unaware that people end up in long-term care facilities; nearly everyone knows of a relative or friend who has lived their final years receiving institutionalized care.  With that in mind it would seem natural for everyone to consider purchasing insurance coverage for the possibility of long-term care needs, but that is not the case.  In the past this could be blamed on misconceptions – people thought their Medicare benefits would pay these costs.  Today we know that is not true; Medicare is designed to cover hospitalization and doctors, not long-term care services.  Medicaid will cover the costs but only after all personal assets are depleted and application has been made.  The federal government passed the Deficit Reduction Act of 2005 allowing all states to offer Partnership long-term care insurance plans if they wished to; participation is not mandatory.  Partnership plans will protect assets in a dollar-for-dollar program, but they will not protect income.  The federal government and participating states hope the Partnership plans will increase consumer use of insurance to fund their long-term care needs, thereby saving Medicaid dollars and easing the state’s budget crisis.  Taxpayers have a huge stake as well since it is their tax dollars that fund Medicaid.

  It may be years before we have enough statistical information to know whether or not the Partnership plans accomplished what they hoped for.  In the meantime, it is up to each individual to plan ahead for their personal long-term care needs.  Failing to act means their children or their state will make decisions on their behalf; decisions they may not have made for themselves or agreed with in better circumstances.

Please Do Your Own Work

  Your state requires each agent to work independently on internet and home-study based courses.  Of course it is neither ethical nor legal to copy another person’s test (even with their permission) or obtain help from any entity, such as your employer.  You must do your own work, which means reading the course material and completing your own test.  We cannot grant you a certificate of completion under any other circumstances.

Copyrighted Material

  United Insurance Educators copyrights all their courses.  We reserve all rights to our courses.  You may not copy or use any portion of the material without express written permission from us.  This course is not intended to offer any type of legal or personal advice.  In all cases, seek council from the appropriate authority.

Long-Term Care Applies to Everyone

  Every taxpaying citizen has a stake in long-term care insurance.  While there are a minority of individuals who can self-fund their long-term care needs, the majority that end up on Medicaid utilize our tax dollars for their care.  Therefore, we have not only a social responsibility to care for our elderly, but also a financial responsibility to protect our children and grandchildren from future staggering tax-related expenditures for our future care as we age and enter the long-term care facilities.

United Insurance Educators, Inc.

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