5 Excuses For Not Planning For Long Term Care

While studies show that 8 million Americans already purchased long term care (LTC) insurance, this is still considered within the minority compared to the total number of people who need it. Among the common misconception about ltci were discussed in the above article. People usually think that the government will take care of them when they grow old and that they are too young to purchase it. Apparently, the US government offers medicare and medicaid but medicare only covers skilled care and not custodial care while with medicaid, you need to pass certain poverty criteria before you qualify. And it is not necessarily true that ltc insurance is for the seniors, who says that young adult is not prone to accident and illness? These could make them a dependent of ltc services. And if you think that ltci is expensive, try comparing the amount of premiums you have to pay to the amount of money you will be needing to pay for caregivers and long term care facilities. So if you are still having a second thought on buying this kind of annuity, think of your loved ones, do you want to be a burden to them when you develop a condition that would require you to be on ltc? Think again…


The Insurance Barn

Slide4Right now, most Americans are grumbling about Obamacare.  There is no question that the new laws and subsidies will help low-income Americans.  The problem is that the help they are getting is hurting middle-class American entrepreneurs.

Self-employed people have to work hard for the profits they enjoy.  Many struggled in the past to earn enough, after expenses, to pay premiums for health insurance.

Unfortunately, many middle-class Americans will work too hard to qualify for federal subsidies to help pay for the higher health insurance premiums.

If they do not pay for the higher premiums, their government is going to force them to pay a penalty tax.  Mr. Obama refuses to admit that the “Shared Responsibility Payment” that is in the PPACA is a tax.  However, the U.S. Supreme Court confirmed that the penalty is an additional tax in June, 2012.

Not only is the government mandating that middle-class Americans pay…

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