When it comes to options regarding how to fund a future Long Term Care need, it is easy to be confused. If you are one of the many who find this process difficult to navigate, you are certainly is good company!
One of my female clients just called, age 65. She had procrastinated buying Long Term Care insurance for several years. She was rolling the dice, and simply hated to "put out the money." However, as she neared her 65th birthday earlier this year, she felt it was finally time to get her insurance in place.
Medicare supplements, prescription drug plans, and Medicare open enrollment don't have to be burdensome! I had three clients this week who were so happy when they left my office, a handshake just wasn't good enough. "Please let me give you a hug! I was so confused and you made this so clear and easy!" Enough said!
Beware of phone solicitors trying to talk you into a plan you are not enrolled in currently. First of all, it is strictly against Medicare rules and regulations for anyone to call you and solicit your enrollment in a Medicare Advantage Plan without you requesting the call first. Other names for these type of plans are "Medicare Plans" "Medicare HMO's" or "Medicare PPO's". While these plans are appropriate for some consumers, there are limitations of which you may not be made fully aware.
I have to remind myself when I'm talking to clients that they might not readily understand the LTC lingo I use. Learning a glossary of words found in standard policies is beneficial.
The Affordable Care Act (Obamacare as it has been pegged) is now in full swing for individuals seeking health insurance.There are so many options, it's no no wonder that Oklahomans are confused and don't know where to turn. Call us so we can connect you with a professional, knowledgeable, SAFE agent to help you make decisions during this time of transition. There are options both on and off the Exchange program. Talk to a real person to explore your choices
"Two leading long term care insurance companies have started charging single women between 40 and 60 percent more than single men and two more insurers are poised to launch their new products with sex distinct pricing," declares Jesse Slome, executive director of the national long term care insurance industry trade group.
I have seen more changes in the long term care insurance market in the last year than in over the 14 years I've been selling it! A major change is that we now have gender-specific ratings. Why? because women utilitze care more than men! Two carriers have already raised rates on new applications for single women 24-40% higher than men for the same coverage. Buy now, while there are still a few carriers left that have not implemented this change.
