The concern shouldn’t be looking for Long-Term Care coverage. The concern should be the price of the policy. The annual premium for $150 daily benefit went from $1,524 in 2007 to $2,269 this year – a 49% increase. Policies sold today cost 6% to 17% more than they did last year, according to an LTC trade group, and insurers regularly seek double-digit rate hikes on existing policies. Still, insurance can protect against depleting savings on extended care. Insurance costs can be cut by limiting coverage to three years. Inflation protection is a must. Buy as much as you can – at least 3% yearly.
One guiding principle is that annuities, life insurance, disability insurance and long-term care insurance can all help.
Officials contend that using this technique beats getting hooked on opioids.
The company provides provider cost and quality information for about 96 million health plan enrollees.
Sponsored by Cetera Financial Group
Do you know the difference between client experience and customer service? The answer is crucial.
Sponsored by T. Rowe Price Investment Services, Inc.
The “reflation trade” appears real, but risks are still elevated.
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