by | Feb 15, 2019 | long term care insurance
Long-Term Care Insurance.
Who needs Long-Term Care Insurance? Anyone who does not have the means to pay for long term services and support in a nursing home setting may be at high risk for losing everything. The statistics show us that 70% of those over 65 will need some sort of long-term care during their lifetimes*. Are you prepared? Neither health insurance nor Medicare pay for personal or custodial care. This includes the type of nursing services associated with recuperation or assistance in daily life. Assistance with eating, bathing, dressing, and toileting are during a recuperative period can cost about $400 per day. The average stay in a nursing facility in Connecticut is 2.5 years. How can you plan for this? We are PBI, and we are in the business of insuring your future.
Long-term care describes a person’s medical needs and non-medical personal care. Care can be provided from a number of different sources, from friends and family members to paid home assistance to nursing facilities. Suppose your parent has a debilitating condition, such as dementia, ALS, or a medical condition from which he is not expected to recover. Medical services are entirely separate from non-medical services. Non-medical services include meal preparation and feeding, bathing, reminders to take prescribed medications, and bathroom assistance.
At PBI our staff is well-versed in health insurance and long term care insurance. Many assumptions are made about long term care, what it means, and how to pay for it. Whether the custodial care is needed for a post-surgical recuperative period or for terminal conditions, you need the advice of a professional so you can prepare. The PBI Staff are experts in all aspects of Medical Insurance and Medicare Benefits and we can assist you with your questions about Long-Term Care Insurance. We believe it is important to open a dialog about long-term care with your spouse and your family. At PBI Insurance, we will be happy to meet with you to talk about your options for long-term care. We have offices in West Hartford and Hamden for your convenience. 860-233-1171.
*U.S. Department of Health and Human Services
by | Dec 30, 2018 | long term care insurance
PBI can help save your nest egg with Long Term Care Insurance. Long Term care insurance, when purchased early, can help pay for nursing care for terminal conditions. Are you aware that neither health insurance nor Medicare pay for personal or custodial care? This includes the type of nursing services associated with recuperation or assistance in daily life. Assistance with eating, bathing, dressing, and toileting are during a recuperative period can cost about $400 per day. The average stay in a nursing facility in Connecticut is 2.5 years. How can you plan for this? We are PBI, and we are in the business of insuring your future. Many people have never heard of long term care insurance – and what you don’t know can lead to potential financial ruin for yourself or a loved one. We believe it is important to open a dialog about long-term care with your spouse and your family.
Long-term care describes a person’s medical needs and non-medical personal care. Care can be provided from a number of different sources, from friends and family members to paid home assistance to nursing facilities. According to the U.S. Department of Health and Human Services, 70% of those over 65 will need some sort of long-term care during their lifetimes. Are you prepared? At PBI our staff is well-versed in health insurance and long term care insurance. Many assumptions are made about long term care, what it means, and how to pay for it. Custodial care may be needed for a post-surgical recuperative period or for terminal conditions. The staff at PBI can answer your questions about Long-Term Care Insurance.
One of the greatest potential risks faced by America’s elderly is the need for long-term care. Long-term care insurance transfers a portion of the risk of long-term care expenses to an insurance company. Insurance helps protect you and your family from potentially devastating expenses. Medicare and Medicaid are federal programs that pay for portions of medical or non-medical care. Medicaid is the payor of last resort for those with no assets. There are strict financial eligibility requirements associated with Medicaid that vary from one state to another. Medicaid planning can be complex and challenging, and we strongly advise you consult a professional who can work through the eligibility requirements with you. Private long term care insurance is an option open to those who are able to afford it.
There are many types of long term care insurance with a wide variety of benefits. Veterans Administration Benefits also provide a home care/assisted living benefit, usually available to veterans and their spouses. Again, you must meet certain criteria to qualify for VA benefits. When it comes to end of life care, what you don’t know can devastate you financially. At PBI Insurance, we will be happy to meet with you to talk about your options for long-term care. We have offices in West Hartford and Hamden for your convenience. 860-233-1171.
by | May 27, 2018 | long term care insurance
Long Term Care Planning and Insurance
Until you are faced with a debilitating health condition, you may never learn about long term care insurance. In fact, what you haven’t learned about long term insurance options may cause financial hardship in the future. Statistics tell us that more than 50% of people turning 65 today will need long-term care at some point. Yet, out of more than 313 million Americans, only 8 million have the protection of a long-term-care insurance policy. The Alzheimer’s Association estimated that end of life care in 2016 cost between $217,820 and $341,651. [source: https://www.alz.org/documents_custom/2017-facts-and-figures.pdf]
There are many ways in which we are expected to plan for our futures, and nobody expects to have their nest egg decimated for failure to plan for the worst. What you don’t know can lead to potential financial ruin for yourself or a loved one. We believe it is important to open a dialog about long-term care with your spouse and your family. Why does one need Long Term Care Insurance? We are PBI, and we are in the business of insuring your future. PBI Insurance is Connecticut company that provides individuals and businesses with insurance and financial planning resources.
Long-term care describes a person’s medical needs and non-medical personal care. Most Long term care in the U.S. occurs in the home, not in a nursing facility. Care can be provided from a number of different sources, from friends and family members to paid home assistance to nursing facilities. Suppose your parent has a debilitating condition, such as dementia, ALS, or a medical condition from which he is not expected to recover. Non-medical services include meal preparation and feeding, bathing, reminders to take prescribed medications on schedule, bathroom assistance, and other “custodial” care.
Opening up a dialog about your long-term care options with a trusted insurance agency is the first step. It is important to understand what your financial burden will be with the options before you, and how to qualify for and receive benefits with which to pay for needed services. A 2013 Public Opinion Strategies poll found that 65% or Americans surveyed have made no long-term care plans at all. According to the U.S. Department of Health and Human Services, 70% of those over 65 will need some sort of long-term care during their lifetimes. Long-term care insurance transfers a portion of the risk of long-term care expenses to an insurance company helping to protect you and your family from potentially devastating expenses.
Medicare and Medicaid are federal programs that pay for portions of medical or non-medical care. Medicaid is the payor of last resort for those with no assets. There are strict financial eligibility requirements associated with Medicaid that vary from one state to another. Medicaid planning can be complex and challenging, and we strongly advise you consult a professional who can work through the eligibility requirements with you. Private long term care insurance is an option open to those who are able to afford it. There are many types of long term care insurance with a wide variety of benefits. Veterans Administration Benefits also provide a home care/assisted living benefit, usually available to veterans and their spouses. Again, you must meet certain criteria to qualify for VA benefits. When it comes to end of life care, what you don’t know can devastate you financially. At PBI Insurance, we will be happy to meet with you to talk about your options for long-term care. We have offices in West Hartford and Hamden for your convenience. Call today: 860-233-1171.
by | Apr 29, 2018 | long term care insurance
Who needs Long Term Care Insurance? Are you aware that neither health insurance nor Medicare pay for personal or custodial care? This includes the type of nursing services associated with recuperation or assistance in daily life. Assistance with eating, bathing, dressing, and toileting are during a recuperative period can cost about $400 per day. The average stay in a nursing facility in Connecticut is 2.5 years. How can you plan for this? We are PBI, and we are in the business of insuring your future. Many people have never heard of long term care insurance – and what you don’t know can lead to potential financial ruin for yourself or a loved one. We believe it is important to open a dialog about long-term care with your spouse and your family.
Long-term care describes a person’s medical needs and non-medical personal care. Care can be provided from a number of different sources, from friends and family members to paid home assistance to nursing facilities. Suppose your parent has a debilitating condition, such as dementia, ALS, or a medical condition from which he is not expected to recover. Medical services are entirely separate from non-medical services. Non-medical services include meal preparation and feeding, bathing, reminders to take prescribed medications on schedule, bathroom assistance, and other “custodial” care.
According to the U.S. Department of Health and Human Services, 70% of those over 65 will need some sort of long-term care during their lifetimes. Are you prepared? At PBI our staff is well-versed in health insurance and long term care insurance. Many assumptions are made about long term care, what it means, and how to pay for it. Whether the custodial care is needed for a post-surgical recuperative period or for terminal conditions such as Alzheimer’s Disease or Amyotrophic Lateral Sclerosis, you need the advice of a professional so you can prepare. The PBI Staff are experts in all aspects of Medical Insurance and Medicare Benefits and we can assist you with your questions about Long-Term Care Insurance.
One of the greatest potential risks faced by America’s elderly is the need for long-term care. Long-term care insurance transfers a portion of the risk of long-term care expenses to an insurance company helping to protect you and your family from potentially devastating expenses. Medicare and Medicaid are federal programs that pay for portions of medical or non-medical care. Medicaid is the payor of last resort for those with no assets. There are strict financial eligibility requirements associated with Medicaid that vary from one state to another. Medicaid planning can be complex and challenging, and we strongly advise you consult a professional who can work through the eligibility requirements with you. Private long term care insurance is an option open to those who are able to afford it. There are many types of long term care insurance with a wide variety of benefits. Veterans Administration Benefits also provide a home care/assisted living benefit, usually available to veterans and their spouses. Again, you must meet certain criteria to qualify for VA benefits.
When it comes to end of life care, what you don’t know can devastate you financially. At PBI Insurance, we will be happy to meet with you to talk about your options for long-term care. We have offices in West Hartford and Hamden for your convenience. 860-233-1171.
by JT Gutcheon | Jan 21, 2018 | long term care insurance
The High Cost of Long Term Care
Many people are confused about long term care, what it is, and what is covered by insurance. A sad fact in America is the high cost of nursing and custodial care. When a loved one must spend time in a skilled nursing facility, or opts for in-home custodial care, the cost of care is grossly underestimated. Long term care planning awareness in early adulthood can help families prepare for the inevitable. Many assumptions are made about long term care, what it means, and how to pay for it. Long-term care services include help with everyday tasks, “custodial” care, or “activities of daily living”. Whether the custodial care is needed for a short term recuperative period or for terminal conditions such as Alzheimer’s Disease, you need the advice of a professional so you can prepare. The PBI Staff are experts in all aspects of Medical Insurance and Medicare Benefits and we can assist you with your questions about Long-Term Care Insurance.
A 2016 poll conducted by the The AP-NORC Center for Public Affairs Research at the University of Chicago explored long term care planning. Apparently the majority of Americans age 40 and older lack confidence that they will be able to pay for long-term care, and few expect their current insurance to cover the costs of ongoing living assistance. Instead, many older adults expect to turn to Medicare or Social Security to support their care as they age, although these programs generally do not cover most long-term care services or costs. Additionally, support is high for policies that help Americans save for long-term care and for those that defray the costs of caregiving.
Custodial services are not covered by health insurance or Medicare. While Medicaid provides long-term services to those with chronic disabling conditions, it is only available for individuals who meet income and other eligibility requirements. Paying for custodial care services out-of-pocket is out of reach for the average person. According to the HHS Office of the Assistant Secretary for Planning and Evaluation Office of Disability, “While most people with LTSS needs will spend relatively little on their care, about one in six (17%) will spend at least $100,000 out-of-pocket for future LTSS.” In fact, in Connecticut, the 2017 average monthly cost for home care is $4,000 and residing in a nursing facility (semi-private room) is more than $7,000. (source: https://www.genworth.com/about-us/industry-expertise/cost-of-care.html).
The senior population is expected to nearly double by 2040. The majority of these seniors will require some form of long-term care – help with activities such as cooking, bathing, or remembering to take medicine – that can be provided in a home or institutional setting. How to finance the provision of high-quality services so that the costs are manageable for families and governments will remain a primary challenge. You may have a loved one who is in need of long-term care, now or in the near future. Talk to the experts at PBI Insurance and get your questions answered at 860-233-1171.
by JT Gutcheon | Dec 6, 2017 | long term care insurance
For Long-Term Care Insurance Options Call PBI
The PBI Insurance team would like to talk with you about Long Term Care Insurance. PBI Insurance is Connecticut company that provides individuals and businesses with insurance and financial planning resources. Many people have never heard of long term care insurance – and what you don’t know can lead to potential financial ruin for yourself or a loved one. We believe it is important to open a dialog about long-term care with your spouse and your family.
Long-term care describes a person’s medical needs and non-medical personal care. Care can be provided from a number of different sources, from friends and family members to paid home assistance to nursing facilities. Suppose your parent has a debilitating condition, such as dementia, ALS, or a medical condition from which he is not expected to recover. Medical services are entirely separate from non-medical services. Non-medical services include meal preparation and feeding, bathing, reminders to take prescribed medications on schedule, bathroom assistance, and other “custodial” care.
Most Long term care in the U.S. occurs in the home, not in a nursing facility. Opening up a dialog about your long-term care options with a trusted insurance agency is the first step. It is important to understand what your financial burden will be with the options before you, and how to qualify for and receive benefits with which to pay for needed services. A 2013 Public Opinion Strategies poll found that 65% or Americans surveyed have made no long-term care plans at all. According to the U.S. Department of Health and Human Services, 70% of those over 65 will need some sort of long-term care during their lifetimes.
One of the greatest potential risks faced by America’s elderly is the need for long-term care. Long-term care insurance transfers a portion of the risk of long-term care expenses to an insurance company helping to protect you and your family from potentially devastating expenses. Medicare and Medicaid are federal programs that pay for portions of medical or non-medical care. Medicaid is the payor of last resort for those with no assets. There are strict financial eligibility requirements associated with Medicaid hat vary from one state to another. Medicaid planning can be complex and challenging, and we strongly advise you consult a professional who can work through the eligibility requirements with you. Private long term care insurance is an option open to those who are able to afford it. There are many types of long term care insurance with a wide variety of benefits. Veterans Administration Benefits also provide a home care/assisted living benefit, usually available to veterans and their spouses. Again, you must meet certain criteria to qualify for VA benefits.
When it comes to end of life care, what you don’t know can devastate you financially. At PBI Insurance, we will be happy to meet with you to talk about your options for long-term care. We have offices in West Hartford and Hamden for your convenience. We are PBI, and we are in the business of insuring your future. Call 860-233-1171 today.
Many people are confused about long term care, what it is, and what is covered by insurance. A sad fact in America is the high cost of nursing and custodial care. When a loved one must spend time in a skilled nursing facility, or opts for in-home custodial care, the cost of care is grossly underestimated. Long term care planning awareness in early adulthood can help families prepare for the inevitable. Many assumptions are made about long term care, what it means, and how to pay for it. Long-term care services include help with everyday tasks, “custodial” care, or “activities of daily living”. Whether the custodial care is needed for a short term recuperative period or for terminal conditions such as Alzheimer’s Disease, you need the advice of a professional so you can prepare. The PBI Staff are experts in all aspects of Medical Insurance and Medicare Benefits and we can assist you with your questions about Long-Term Care Insurance.