All articles about health insurance or related to health insurance from Consumer Insurance Guide
When you’re young, long-term care insurance is not something you’re likely to think about. You might also think that long-term care insurance is something to worry about well into your 60s or 70s. But in reality, an illness or disability can strike at any time and at any age, and long-term care does not come cheap. In fact, Genworth’s 2019 Cost of Care Survey found that the average monthly cost of professional care in the U.S….
Read More
Experts estimate that about one out of every 10,000 people have Huntington’s Disease.
Read More
Dementia patients’ long-term care (LTC) makes up the bulk of cost in treating the disease, and not the actual medical treatment itself, stated a 2013 RAND Corporation report. RAND research estimated dementia costs to reach as high as $511 billion by 2040 and found the bulk of the cost was LTC. The aggressive rise in cost, RAND researchers noted, was due to gaps in current policy that didn’t adequately support treatment measures financially and left too…
Read More
Planning for retirement in the long-term is on the to-do list for most people. However, many Americans neglect to prepare for long-term care (LTC) expenses, which can often turn out to be the most significant expense you’ll face in retirement. Approximately 70% of adults will need long-term care eventually, according to the U.S. Department of Health and Human Services. And those who do need this type of care will require it for an average of…
Read More
“Every 70 seconds someone in America develops Alzheimer’s,” warns the Alzheimer’s Association in a 2017 Facts and Figures report. Just last week, the association, a nonprofit research advocate for Alzheimer’s care and support, released its figures from 2019 and current figures project Alzheimer’s cases to triple to 13.8 American by 2050. Alzheimer’s is incurable. It is a progressive dementia that can last decades, slowly deteriorating a person’s cognitive function, while the body and mind weaken…
Read More
Genworth’s 2019 Cost of Care survey shows the average cost for a home healthcare worker rose 4.55 in 2019. The survey also surmises that a staggering “10,000 Baby Boomers turn 65 everyday until 2030 and 7 out of 10 will require long-term care in their lifetime.” Think about it. That is 70 percent of the senior pool which will need LTC. Unfortunately, the cost of long-term care is rising faster than the rate of inflation,…
Read More
Several Democrats on a House Energy and Commerce subcommittee at a hearing Wednesday derided short-term health-insurance plans as “junk,” accusing the Trump administration of “sabotaging” the health care system with a rule that expanded people’s ability to purchase these plans. The accusations are without merit. While I was at the National Economic Council, I coordinated the process to implement several policies to expand Americans’ ability to purchase more affordable coverage, including short-term plans. Here are the key…
Read More
Like every other insurance plan out there (auto, homeowners, disability), there is no “one size fits all” model. Instead, the differences lie in the size of the premiums, and how restrictive the plan is with regards to the consumer’s choice of doctor.
Read More
Thirty-two states, including the District of Columbia, have chosen to expand their Medicaid programs under the Affordable Care Act (ACA). Medicaid is already placing a severe financial strain on state budgets, and the program has a proven track record of failing to provide cost-effective and efficient care for those in need. Congress is now considering several plans to replace the Affordable Care Act, with no clear choice yet available. A new option recently proposed by…
Read More
Transitioning Medicaid from an unlimited entitlement program to limited block grants could save U.S. taxpayers more than $100 billion, or $803 per household, over the next five years, according to a study from the healthcare innovation research company Avalere. Block grants of fixed amounts to states would save $150 billion by 2022, the February analysis found. A per-capita block grant, which would increase or decrease with enrollment, would cut federal spending by $110 billion. In…
Read More
LOS ANGELES, Calif. — Thousands of residents from Los Angeles
When you’re young, long-term care insurance is not something
