Foreword
The Internal Revenue Service has approved a tax incentive with substantial implications for long-term care insurance coverage. The new proceedings established in this new code are rather intricate, but in short establish three key assumptions for policyholders and physicians alike. The first is that the incentive allows for premiums to be paid with money that is yet to be taxed. Second, the return of said premiums can be assigned to a given property tax-free. Third, long-term care benefits do not need to be extended to all persons under management. This tax incentive is precisely correlated with the growing cost of health care and the raised expenditures connection to long-term care.
Researches show that the yearly cost of long-term care averages $ 70,000 with an expected growth rate of 5 % per year. This number would be mostly erroneous if long-term care wasn't as in demand as it is today, nevertheless that is not the world we live in. In reality, 70 % of our society's senior citizens over the age of 65 will need some sort of long-term care. The following guide responds to this trend by pinpointing a unique illustration of long-term care from both a medical professional and a patient's point of view.
Part 1, Physicians Perspective:
Physicians and other specialties in the medical field are by no means a stranger to the conditions of long-term care insurance. The possibility of ill-advised aftermaths and the expenditures associated with long-term care are extraneous variables that are difficult to indicate and control. This assertion, however, does not mean that a healthcare professional has to be adept to the complexness of long-term care to shield his/her patients. A longstanding LTC carrier can take care of that for you.
Still, medical professionals often call into question whether or not long-term care is right for both the sake of their practice and their own fiscal health. Certainly, risk is a factor, but so is analyzing the pros and cons. Take into consideration how patients will counter to the idea of investing in long-term care protection. Some may be doubting at the thought, but if they know they can rely on it, their trust and devotion in you as a doctor will be reaffirmed. It's also important to take into consideration how current advances in health care have affected the supply and demand for medical attention. Patient are living longer and the demand for long-term care is by no means slowing down.
Now think about your own financial wellbeing. During the working years, nearly all medical professionals employ disability insurance to guard their money. But when that cash flow stops paying off and you leave the professional practice, you still need to protect what you've earned. Long-term care is a means of guarding the assets you've accumulated so they can be enjoyed and passed on.
Long term care insurance quotes
Part 2, Patients Perspective
In the grand scheme of things, long-term care insurance isn't just selling coverage for seniors needs, its selling peace of mind. This peace of mind is a resultant effect of greater quality of life for the policy holder and their loved ones. Additionally, long-term care may be utilized during retirement, but is best secured prior to then.
Of the most common long-term care misunderstandings is that LTC is the same as nursing home insurance coverage. While it is true that nursing homes are a policy option, the site at which the person in need acquires care is entirely up to their own choosing.
Getting long-term care before the age of 50 is by no means unheard of, as half of the four million long-term care policy holders in the US are less than the age of 65. Additionally, these policies are unique in that partners and members of the immediate family can share a single policy. As for costs, the younger you obtain long-term care, the less you'll pay in premiums. This is because a younger policy holder is more likely to be healthier. Finally, long-term care immediately protects your present and future assets.
Conclusion
With increased demand comes increased supply. Many insurance carriers have responded to the needs of the elderly since the long-term care boom circa twenty years ago. Each of these agencies differs significantly in terms of wisdom and quality. Consequently, physicians direct patients in need of long-term care to the agencies with solid reputations built up over years of experience. Long-term Care Financial Partners, or LTCFP for short, is one of the most highly renowned agencies that physicians refer their patients to. Holding branches in most major cities, LTCFP is highly at your disposal. In addition, there various product providings draw the attention of medical professionals and patients across the country. For example, all potential candidates receive a free evaluation session for those interested in adding long-term care to their list of employee benefits. Awareness and professional help is the best way to capitalize on a long-term care insurance plan. As the world progresses, the needs of people change; long-term care markets itself to respond to the needs of the elderly and is a win-win situation for physicians and patients alike.
The Internal Revenue Service has approved a tax incentive with substantial implications for long-term care insurance coverage. The new proceedings established in this new code are rather intricate, but in short establish three key assumptions for policyholders and physicians alike. The first is that the incentive allows for premiums to be paid with money that is yet to be taxed. Second, the return of said premiums can be assigned to a given property tax-free. Third, long-term care benefits do not need to be extended to all persons under management. This tax incentive is precisely correlated with the growing cost of health care and the raised expenditures connection to long-term care.
Researches show that the yearly cost of long-term care averages $ 70,000 with an expected growth rate of 5 % per year. This number would be mostly erroneous if long-term care wasn't as in demand as it is today, nevertheless that is not the world we live in. In reality, 70 % of our society's senior citizens over the age of 65 will need some sort of long-term care. The following guide responds to this trend by pinpointing a unique illustration of long-term care from both a medical professional and a patient's point of view.
Part 1, Physicians Perspective:
Physicians and other specialties in the medical field are by no means a stranger to the conditions of long-term care insurance. The possibility of ill-advised aftermaths and the expenditures associated with long-term care are extraneous variables that are difficult to indicate and control. This assertion, however, does not mean that a healthcare professional has to be adept to the complexness of long-term care to shield his/her patients. A longstanding LTC carrier can take care of that for you.
Still, medical professionals often call into question whether or not long-term care is right for both the sake of their practice and their own fiscal health. Certainly, risk is a factor, but so is analyzing the pros and cons. Take into consideration how patients will counter to the idea of investing in long-term care protection. Some may be doubting at the thought, but if they know they can rely on it, their trust and devotion in you as a doctor will be reaffirmed. It's also important to take into consideration how current advances in health care have affected the supply and demand for medical attention. Patient are living longer and the demand for long-term care is by no means slowing down.
Now think about your own financial wellbeing. During the working years, nearly all medical professionals employ disability insurance to guard their money. But when that cash flow stops paying off and you leave the professional practice, you still need to protect what you've earned. Long-term care is a means of guarding the assets you've accumulated so they can be enjoyed and passed on.
Long term care insurance quotes
Part 2, Patients Perspective
In the grand scheme of things, long-term care insurance isn't just selling coverage for seniors needs, its selling peace of mind. This peace of mind is a resultant effect of greater quality of life for the policy holder and their loved ones. Additionally, long-term care may be utilized during retirement, but is best secured prior to then.
Of the most common long-term care misunderstandings is that LTC is the same as nursing home insurance coverage. While it is true that nursing homes are a policy option, the site at which the person in need acquires care is entirely up to their own choosing.
Getting long-term care before the age of 50 is by no means unheard of, as half of the four million long-term care policy holders in the US are less than the age of 65. Additionally, these policies are unique in that partners and members of the immediate family can share a single policy. As for costs, the younger you obtain long-term care, the less you'll pay in premiums. This is because a younger policy holder is more likely to be healthier. Finally, long-term care immediately protects your present and future assets.
Conclusion
With increased demand comes increased supply. Many insurance carriers have responded to the needs of the elderly since the long-term care boom circa twenty years ago. Each of these agencies differs significantly in terms of wisdom and quality. Consequently, physicians direct patients in need of long-term care to the agencies with solid reputations built up over years of experience. Long-term Care Financial Partners, or LTCFP for short, is one of the most highly renowned agencies that physicians refer their patients to. Holding branches in most major cities, LTCFP is highly at your disposal. In addition, there various product providings draw the attention of medical professionals and patients across the country. For example, all potential candidates receive a free evaluation session for those interested in adding long-term care to their list of employee benefits. Awareness and professional help is the best way to capitalize on a long-term care insurance plan. As the world progresses, the needs of people change; long-term care markets itself to respond to the needs of the elderly and is a win-win situation for physicians and patients alike.