Here are all the articles I wrote during February, 2015. I hope they're useful to you.

February 27th, 2015

What’s the cost of getting older? $90,000 a year!

$90,000.   That’s a lot of money!   On a national average, it’s what you’ll pay  if  your Mom or Dad lands in a nursing home for a year (and the average stay is 2.5 years).  That’s really a ton o’money!!

If your Mom or Dad would prefer to get better at home (and who wouldn’t?), today the cost of home care is about double.

Do you have over $225,000 (or more?) to pay for long term care services?   No?  Do your parents have over $225,000 to pay for long term services?  No?  What ever will you do?

The Insurance Mom knows!  Doesn’t that make you feel better already?    Long Term Care Insurance is the answer.   Let an insurance company pay the bills.

Find out how.   What better reason to call The Insurance Mom?…

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February 25th, 2015

Repost! 4 Simple Rules About Long Term Care Insurance

Another oldie but a goodie (with some updates) about Long Term Care Insurance.  Is it time for you or your parents to think about Long Term Care Insurance?  Here’s 4 quick rules about LTC . . .

First, always consult with a qualified broker, like The Insurance Mom!

Second, buy a plan that’s affordable.  Don’t go hog wild and buy a plan that’ll  cover 100% of anticipated future costs just because you think it’s better.  It is much smarter to buy a policy you can afford to pay for every month.   If you can’t pay the premium, what’s the point?  You’ll get no benefits at all if that happens!   It’s better to buy a policy that will cover at least half of future costs than buy no policy at all.

Third, buy a policy that keeps up with inflation (that’s called a Compound Inflation Rider).   The cost of care rises every year.   Get a policy that keeps up with the times.   Look for a policy with a built-in 5% Compound Inflation Rider.

Fourth, aim for the shortest possible waiting period for the plan to kick in (that’s called the Elimination Period).  For example, if you have a 30-day elimination period, you’ll pay for the first 30 days of expenses out of your own pocket.  The shorter the Elimination Period, the more expensive the policy will be.   If the Elimination Period is 90 days or longer, be sure you have the moo-la to cover you!

Now…. don’t you feel smarter?!  You get a cookie for reading!


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February 23rd, 2015

Revisiting A Short Course on LTC

Now that we have a bit of a handle on Open Enrollment for health insurance, I am getting nostalgic on my old blog posts and found this goodie on LTC:

Did you know that at least 60% to 70% of people over 65 will eventually need long term care, either at home or in a nursing home?   That can be very expensive.

The average stay in a nursing home per year is almost $90,000.

Your health insurance does NOT cover this kind of expense, neither does Medicare!   Oy.   That’s why The Insurance Mom wants you to consider Long Term Care Insurance (LTCi)  especially if you don’t have enough savings or a rich uncle.

If you have LTCi and have to go into a nursing home or need at-home care, the total cost of all your premium payments combined will likely be less than the cost of a single year in a nursing home or full-time home care — no matter how many years you’ve been paying premiums.

Think about that for a moment.   No matter how long you pay LTCi premiums, you will get it all back in one year of benefits!   That’s huge.   I think it’s a wise investment in your financial future.

Come back Wednesday for 4 simple rules to follow when buying Long Term Care Insurance.…

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February 20th, 2015

Open Enrollment Announcement! Extension!

Hello, kiddies!  The emails just started flying in.  The new news is that Open Enrollment has been extended on Covered California for those who are currently uninsured.  It will now end April 30th. 2015.

I was just about to post a funny piece on winding down from Open Enrollment, but I suppose that will wait until April!  Call The Insurance Mom if you’re uninsured and need help with getting new health insurance.…

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