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Retirement Terrors

With all the confusion around the Affordable Care Act (ACA) these days, discussing health care costs in retirement is more than ever becoming a critical part of the retirement advisory profession. And it is no surprise why. In a new Nationwide Financial Retirement Institute survey, more than three in five (61 percent) affluent pre-retirees now... Read more »
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The ‘silver tsunami’: Nursing homes prepare for wave of baby boomers

Although the oldest baby boomers won’t turn 80 until 2026, nursing home operators are getting ready now. “There is a silver tsunami coming” of baby boomers who first will require short-term rehabilitation care funded by Medicare and later require long-term and hospice care, said Kelly Gasior, vice president of strategy and housing operations with Livonia-based CHE... Read more…

Mistakes to Avoid When Shopping for Long-Term-Care Insurance

It’s a decision many baby boomers are grappling with: Should I buy long-term-care insurance? The decision has never been more difficult. According to researchers at Georgetown University and Pennsylvania State University, about 70% of individuals 65 and older will need long-term care—whether at home or in an assisted-living facility or nursing home. At the same... Read more…

How to win the long-term-care insurance game

The long-term care insurance industry has seen its share of challenges in recent years, generating no shortage of negative headlines. But while such coverage isn’t for everybody, almost anyone planning for retirement ought to carefully consider whether they might need it—after all, burying our heads in the sand about our future care needs is hardly... Read more…

Congress approves bill to avert Medicare pay cut for doctors

The U.S. Senate gave final congressional approval on Monday to legislation to avert a pay cut for doctors who participate in the Medicare insurance program for the elderly and disabled. By a vote of 64-35, the Democratic-led Senate sent the measure, approved last week by the Republican-led House of Representatives, to President Barack Obama to sign into... Read more…

A Quiet ‘Sea Change’ in Medicare

Ever since Cindy Hasz opened her geriatric care management business in San Diego 13 years ago, she has been fighting a losing battle for clients unable to get Medicare coverage for physical therapy because they “plateaued” and were not getting better. “It has been standard operating procedure that patients will be discontinued from therapy services... Read more…

Unless You Have Cash, You Don’t Have Long Term Care Insurance

In the long term care insurance early days, every policy sold was a traditional reimbursement policy. Over recent years sales trends have changed with LTCi plans including a partial cash benefit gaining market share. Why have sales started to increase with plans that offer a cash benefit?  Many feel agents are showcasing the cash benefit... Read more…

Premiums Rise for Long-Term Care Insurance. Keep It or Drop It?

Every day, Jesse Slome says, about a half-dozen people contact his office at the American Association for Long-Term Care Insurance, a group for industry professionals, to complain about premium increases on their policies. Financial planners, too, are hearing from their clients. “We’re definitely seeing a lot of increases, especially for older policies,” said Clarissa Hobson,... Read more…