Long Term Care Insurance, LTC

Why are Long Term Care Costs a Concern?

Pass on as much as possible to estate for: family, charitable organizations	Maintain standard of living for community spouse
Fear of outliving Savings.	To maintain dignity and independence.

Long Term Care Costs Don't Just Affect
Those Over Age 65
( Every Generation has It's Chronic Illnesses )

Accidents at any age.	Birth disabilities.
Strokes, multiple sclerosis, Pakinson's disease, heart and lung problems for the middle aged.	Arthritis, circulatory and negative effects from past illness and injury.

What Is Considered Long Term Care?

A chronic illness usually lasting a year or more.

When a family member becomes dependant or needs help with activities of daily living (ADL's): dressing, bathing, walking, eating, taking medication.

Depending on the Level of care, One May Receive Help From:

A family member (usually female). Home health care agency. Adult
day care. Assisted
living.

Adult foster care. Home for the aged. Nursing homes (last resort).

How Much Does Long Term Care Cost?
One Year.......

In Nursing Home

-or-

Of Home Health care

From $36,000 to $75,000 and up

From $8,000/year to more than a nursing home.

Who Pays For Long Term Health Care Costs?

Private pay (our own responsibility). Private long term care insurance. Medicaid.......once qualified.

Who Does Not Pay!

Group insurance, major medical, Medicare and
V.A. are designed to pay for an acute condition
(such as hospital stay, surgery, doctors, etc.)

Medicaid Pays Nearly Half
of All Nursing Home Bills
People end up on Medicaid because of
planning.......or lack of planning.
BUT......

To Receive Medicaid You must meet
your state's poverty guidelines.
These guidelines vary from state to state.

The Spousal Impoverishment Act
was enacted in 1988.
Do you Qualify?
To qualify for Medicaid you must spend down your assets to $84,120, as of January 1, 2001. This is the dollar amount that you are allowed to keep.

Assets That Are At Risk

Cash, savings and checking. Credit union shares and draft accounts. Certificates of deposits (CD's). U.S.Savings Bonds.

IRA's and 401 (k)'s. Nursing home trust funds. Prepaid funeral costs. Trusts.

Real Estate (other than your home). More than one car. Boats and recreational vehicles. Stocks, bonds, and mutual funds.

Mortgages held on real estate sold.

More Information.

Income That is at Risk

Income you would have to use to pay for Nursing Home. If the confined clients' monthly income is over $1500.00 he/she does NOT qualify for Medicaid. If the client does qualify, the community spouse is only allowed to keep $1295.00 per month. All excess income goes towards paying for nursing home.

Income sources that are considered and at risk.

Social Security	Pension	Interest
Rents (minus expenses)	Land Contracts	Dividends
	Income Reported to IRS

Assets that you may keep In most states.

Burial spaces and certain related items for you, your spouse and immediate family members. Income producing real estate, if annual income after expenses, is equal to at least 6% of equity. Assets which you and your spouse do not have the legal right to use or
dispose of.

All life insurance, if the insured is at least age 70, or terminally ill. First $1,000 cash surrender value of life insurance. Assets you and your spouse have been unable to sell at fair market value.

Irrevocable prepaid funeral contracts. One car. Personal belongings and household goods.

Unfortunately Everything Is At Risk for The Single Person!

What Are The Options
For Your Concerns?

Irrevocable Trust (give up control). Self Insure (it's all at risk).

Long Term Care Insurance, LTC Offers: Choice, Flexibility and Control. Give Away Assets...give up control...after 36 month look-back* period (* You would have to have given assets away 36 months prior to admission to a nursing home to have them protected.)

What Solution Will Best Protect
Your Lifestyle
And
Your Legacy?

Long Term Care Insurance, LTC
Preserves Wishes and Desires

As a rule of thumb, a long term care policy will provide an affordable solution to your concerns.

One may be purchased for less than 1.5% of counted assets, or:

Less than 10% of annual income.

Other Considerations For Long term Care Insurance Include...

Health Do you meet the underwriting guidelines? You may qualify today...but will you qualify tomorrow?

Considerations For Choosing a Company.....
And A Product

Financial Stability.
Levels of Care.
Community Based Benefit
For Choices and Flexibility.
Commitment of The Company
Claims Paying Ability.

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(800) 574-8840 © 1997 Information@ltcfs.com
235 S.W. 33rd St
Cape Coral Fl 33914
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Burial spaces and certain related items for you, your spouse and immediate family members.	Income producing real estate, if annual income after expenses, is equal to at least 6% of equity.	Assets which you and your spouse do not have the legal right to use or dispose of.
All life insurance, if the insured is at least age 70, or terminally ill.	First $1,000 cash surrender value of life insurance.	Assets you and your spouse have been unable to sell at fair market value.
Irrevocable prepaid funeral contracts.	One car.	Personal belongings and household goods.