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Long term care indemnity - low cost alternatives for account conscious seniors! - assurance

 

With Tending home Cost's in succession $4,000 to $6,000 a month and outpacing inflation, it is a small amazement that most seniors cannot allow the Long term Care assurance premiums. Their are low cost Alternatives free for seniors who just can't give the rising cost of these Premiums.

Many Seniors even distrust if they need Long Term Care Insurance. Take a look at the Stats and conclude for yourself.

Long Term Care by the Numbers

  • In the year 2010 about 12 million older Americans may need long term care
  • A Study by the U. S. Administrative area of Healthiness and human Armed forces predicts that 40% of all Americans over the age of 65 will need Nurture home care
  • 22% of all Americans over the Age of 85 are in a attention Home
  • According to the US Authority 40% of the Citizens Presently in receipt of Long Term Care Military are concerning 18 and 64.

Many older Ancestors are under the belief that Medicare and Medicaid will cover the cost of Long Term Care. Every State has their own rules about what earnings and net worth rations will lessen you for Long Term Care assistance. Here are some qualification rules in use by the State of Missouri as available in the Consumer Guide for seniors from the allowed Web page for the State (http://insurance. mo. gov/consumer/senior/ltcguide. pdf) (For other States check the State. gov web page and then explore on indemnity and long term care)

In the State of Missouri Medicare Pays Long Term Care as follows

  • First 20 Days Medicare will pay all
  • For the Next 80 Medicare and the Elder Split the Cost based on some Formulas
  • Beginning on the 101st Day you are accountable for all Long Term care Costs.

What About Medicaid? Here are some Rules in place in the State of Missouri.

  • A Distinct character has to spend down their assets to under $1,000 beforehand Medicaid will pay.
  • A Married combine would have to spend down 1/2 of their assets or more. According to the subsequent rules A Next of kin may keep among $13,740 and 68,700. So if a Combine only has $13,740 the Next of kin gets to keep it all and Medicaid will pay the long Term Care Costs. But if a duo has $500,000 in Assets the Husband only gets to keep $68,700 already Medicaid will Pay.
  • Certain Assets are Exempt from the Spend Day must and it is brightly advised if you have big assets that you commerce a Fiscal Advisor or attorney, who specializes in asset defense for seniors in your State.

Now that you have the Facts the Distrust is how do you guard by hand at a cheap cost. Many Cover companies offer Annuities and Evenhandedness Indexed Annuities with a Nurture Home Benefit. These Annuities would allow you to take your Allowance over a Span of 5 Years to help pay for your long term Care Expenses. In Add-on to the long term care advantage these annuities offer Tax Growth, Up to 10% Bonuses for the first 5 years and many other Benefits.

If you are a Boss afraid about the High Cost of Long term Care but exceedingly cannot give the High cost of Long term Care Indemnity Premiums then Annuities with a Long Term Care Rider may just be the elucidation you seek.

Mike Makler is a Qualified Life Cover Agent Based out of St Louis Missouri. To Learn More Call Mike at 314 398-5547 or Visit Mike's Web Page http://ewguru. com/insurance

Copyright 2005-2006 Mike Makler



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