Genworth managed to weasel out of inclusion in the ban with its long term care insurance product.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
That would be the point of buying the long term care insurance product in the first place.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
There was no long term care insurance and the cost of assisted living was not covered by Medicare.
The same rules that apply to health insurance should apply to long term care insurance in every state.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
As for us Boomers, we can be smart and get long term care insurance our parents never thought of getting.
The other circumstance when long term care insurance is vital is when you live alone and are highly independent (which then translates into isolated).
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Perhaps they do not have to access any long term care insurance benefits as soon or as much because of this help, mostly provided by women.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
Major insurer, Genworth Financial, just announced that it will be raising rates for single female purchasers of long term care insurance by as much as 40% for women, not for men.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
Critics of long-term-care insurance argue that many who need long-term care use it for less than 90 days, and that most policies have a 90-day deductible, meaning most owners of long-term care insurance will receive no benefits.
Rise up, protest, let your legislator know that you will not accept being punished for helping the men in your life when they need it, only to be overcharged when you need long term care insurance benefits yourself.
FORBES: Gender-Discriminatory Insurance Pricing: I'm Outraged!
Panel members are to reflect the interests of recipients of care, their caregivers, providers, care workers, long-term care insurance companies, and state Medicaid officials.
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Longevity insurance may also help those unable to obtain long-term-care insurance, although there is no guarantee that payments will coincide with long-term-care expenses, says Dan Guilbert, executive vice president at Symetra Life Insurance Co.
And it opposes the CLASS Act, another part of health care overhaul that sets up a voluntary, long-term care insurance program.
He also recommends that single people, who may not have family who could care for them in old age, to seriously consider long-term care insurance as well.
There were also opponents most prominently from the life insurance industry, especially two companies with large footprints in the long-term care insurance market, Genworth and John Hancock, as well as their trade organization, the American Council of Life Insurers.
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When it comes to long-term care insurance, I am often asked the same question: Should I buy?
Finally, Anne said it was important to improve consumer projections for buyers of private long-term care insurance.
It dwarfs the benefits provided by private long-term care insurance or what people pay out of pocket.
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It may be possible to design a modest government-run voluntary long-term care insurance program that is financially viable.
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Many already own private long-term care insurance and others have enough savings, home equity, or other resources to self-insure.
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There may be an increased need for long-term care insurance to cover in-home, as well as nursing home, services.
They also recommend new highly-targeted government subsidies, such as tax credits, to encourage moderate-income consumers to purchase long-term care insurance.
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Once single again, long-term care insurance may need to be considered for those who are unable to self-insure that expense.
And if we do try again to adopt a national long-term care insurance system, should it be mandatory or voluntary?
FORBES: Reopening the Debate Over How to Pay for Long-Term Care Services
Thanks to technical budget rules, Congress can now kill the national, voluntary long-term care insurance program without adding to the deficit.
Private long-term care insurance can be an important tool to protect against the risk of needing costly personal assistance in old age.
If you can afford it, consider purchasing long-term care insurance to preserve both your assets and your choice of care and facilities.
More than half said they would help a parent pay for long-term care insurance instead of contributing to their own retirement savings.
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And private long-term care insurance is expensive and increasingly difficult to buy.
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The measure, a piece of the 2010 health reform law, was supposed to create a new national, voluntary long-term care insurance system.
FORBES: Fiscal Cliff Deal Repeals CLASS Act, Creates Long-Term Care Commission
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