1. Long-Term Care Insurance “The Essentials 101”

2.  About 38.9 million people in US are over age 65  One in two people age 85 need LTC 1  The need for LTC is not limited to older Americans.  44% of those needing LTC will be over the age of 65. 2 LTC services may be necessary at any age. Older adults may gradually find day-to-day living increasingly difficult. Younger adults may suffer a heart attack, stroke, disabling accident or develop a chronic illness. Long-term care services are generally custodial and personal in nature but, in some cases, may be rehabilitative. To be continued…

3.  Neither medical insurance, Medicare, or Social Security are designed to pay for LTC.  LTC insurance can help pay for care.  LTC insurance can help retain assets.  LTC insurance can help retain independence. This presentation is a general introduction to LTC insurance. It defines terminology generally used in industry and presents basic issues answers to frequently asked questions.

4.  Current Long Term Care Environment  The Class Act

5. DEFINITION Long-term care (LTC) refers to a variety of services designed to help people perform the functions of day-to-day living and possibly remain independent. Some long-term care is aimed at providing help with day-to-day activities for those with chronic illness, or cognitive impairment, such as dementia. Other long- term care services are rehabilitative and will help someone regain function after serious injury.

6.  There are Long Term Care carriers exiting the business.  There are Long Term Care carriers requesting states for rate increases on their current books of business.  Will all the current carriers increase their rates too?

7.  What does it stand for:  “Community Living Assistance Services and Supports”  The Senate passed the bill December 24, 2009.  The House approved it March 21, 2010.  President Obama signed into law March 23, 2010.  The Secretary of Health and Human Services is expected to set benefits by October 2012.