Private long-term care insurance remains relatively rare, but coverage rates are nearly twice as high among those with annual...Read more
ElderLawAnswers Visitors More Likely to Have Long-Term Care Insurance
- September 12th, 2008
ElderLawAnswers recently polled site visitors on whether they had long-term care insurance. According to the results, the percentage of visitors to the site with long-term care insurance is significantly higher than the national average.
Of the 270 visitors to the site who chose to answer the poll, 28 percent have long-term care insurance. While still not a large number, this is significantly higher than the national average. There are 8 million long-term care policies in force nationwide, according to the American Association for Long-Term Care Insurance Association. This means that approximately 3 percent of adults in the United States have long-term care insurance. (Assuming the 8 million policies were issued only to those 55 or older, that is still only 11 percent of that population.) The ElderLawAnswers poll also found that 70 percent of respondents do not have long-term care insurance and 3 percent do not have insurance, but their spouse does.
Long-term care insurance can be a good way to pay for a nursing home stay or a home health care worker, but it doesn't come cheap and some applicants may not qualify because of preexisting health conditions or age. For more information on long-term care insurance, click here
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Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
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For Jeffrey Hammond, the practice of Elder Law is personal. Jeff’s many years of experience in law and in business did not prepare him for the crisis he faced in 2005 and 2006 when his father suffered a stroke and both of his parents suffered from dementia and other medical problems. At that time, Jeff began an i...