Elder Law Answers
How to Cope With Big Rate Hikes on Long-Term Care Policies
If you have long-term care insurance, brace for the possibility of a steep increase in premiums this year . . .
Read moreHow Can I Save Money on Long-Term Care Insurance?
- September 16th, 2013
A
While long-term care insurance can be a good way to pay for a nursing home stay or a home health care worker, it doesn't come cheap. Annual premiums vary significantly, depending on your age, health, and the type of policy, but policies can run as high as $5,000 per year. You do not need to pay that much, however. There are some ways to reduce costs:
- Buy a shorter benefit period
- Buy when you are younger
- Get a “shared care” policy with your spouse
- Purchase a longer elimination period
- Reduce the daily benefit amount
- Buy inflation protection with simple-interest increases
For more information, click here.
Local Elder Law Attorneys in Ashburn, VA
Meet John Laster
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John Laster
Law Offices of John L. Laster
John Laster is a lawyer licensed to practice in Virginia, Maryland and the District of Columbia. He limits his practice to wealth transfer planning, trusts, wills, powers of attorney, health care decision-making issues, estate administration and related tax, elder law and disability concerns. Listed in The Best Lawyers...
(703) *** ****
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Meet William Fralin
(301) *** ****
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William Fralin
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Bill founded The Estate Planning & Elder Law Firm, P.C. in 1994. Bill limits his practice to the areas of estate planning and administration, incapacity planning, Medicaid, asset protection planning, and elder law. He is one of (15) fifteen attorneys practicing in Virginia, Maryland and the District of Columbia, ce...
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Meet Loretta Williams
(703) *** ****
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Loretta Williams
Hale Ball Carlson Baumgartner Murphy PLC
Loretta Morris Williams is a certified elder law attorney by the National Elder Law Foundation. Ms. Williams was admitted to the Council of Advanced Practitioners, National Academy of Elder Law Attorneys (NAELA) in 2012. She serves as President of the Virginia Academy of Elder Law Attorneys. Ms. Willia...
(703) *** ****
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