Author: Rebecca Wilson

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CareOptions® – A Free Family Healthcare Advisory Program

  Available FREE to All LTC Members   CareOptions® A Family Healthcare Advisory Program More than 70 apps and resources Interactive/web based – Family Healthcare Advisory program, care guide tools and care resources. Provides Search capabilities for medical facilities, physicians, assisted living facilities, nursing homes, home health care agencies, adult day cares, homemaker services and … Continue reading “CareOptions® – A Free Family Healthcare Advisory Program”

Nov 06 no Comments. Rebecca Wilson

Why Do I Need Long Term Care Coverage?

Everyone remembers that they need health and auto insurance but what about Long Term Care coverage? For most of us it falls far down on our “to do” list, if it even makes it on the list. But have you considered how you’ll pay for Long Term Care when you need it?

MediCare and standard health insurance don’t cover Long Term Care. MediCal requires you to run through your money and other assets before coverage can begin. If you have a pension, you’ll probably never qualify for MediCal coverage.

Of course, you may think that you’ll never need Long Term Care. Statistically, this is improbable. Current estimates show that people can expect to live an average of 18 years after retirement at age 65. In addition, 60% of people over 65 will need a minimum of 3 years of Long Term Care and 40% will spend some time in nursing facilities. Post-retirement isn’t the only time you might need Long Term Care. Recent statistics show that 1 out of 7 people currently in nursing facilities is under 65. Statistically, our chances of needing some form of Long Term Care are pretty high.

When you think of reasons you might need assistance as you age, you probably think of heart disease and stroke. But did you know that arthritis is the primary cause of disability among the elderly? Arthritis often causes serious long-term disabilities, while the effects of heart disease and stroke are often lessened by treatment.

Changes in our society make planning for Long Term Care especially important. In the past, parents have depended on children as primary caregivers. However, children tend to be more geographically dispersed making them a less dependable care network. Additionally, the economic necessity of two income households means it’s unlikely a family member will be able to act as your caregiver. Another side effect of increased longevity is that you may already be helping your parents with their Long Term Care when you retire.

Since it’s obvious that most of us will need some type of Long Term Care the question remains; how will we pay for it? Costs are high and will only increase. By 2030, the average annual cost is expected to exceed $180,000.

A good option to protect against Long Term Care costs is participating in a Long Term Care plan. Depending on the plan you choose, Long Term Care coverage will pay for a variety of care options including in-home assistance, assisted living facilities and nursing facilities. A Long Term Care plan will protect your pension and other assets by paying for your care costs. Ultimately, Long Term Care allows you to take control of your future care needs while protecting your assets.

May 25 no Comments. Rebecca Wilson

The Advantages of Youth — Stop Procrastinating!

The Advantages of Youth —
Stop Procrastinating!

Are you considering NPFBA Long Term Care coverage? Stop procrastinating! Every year you wait equals an increase in cost for coverage.

Take for example, John Smith who knows that he needs long term care coverage when he’s older but is only 35 now. John thinks that he can wait to purchase a policy, after all retirement is still about 20 years away. However, if John purchases his long term care coverage today his monthly payment on a NPFBA 25-Year, 150 Comprehensive Plan is only $67. If John waits until he’s 56, the monthly payment goes up to $180. Purchasing a long term care policy now will save John $100 a month that’s $1,356 a year.

In addition to saving money, John protects himself in case he becomes disabled tomorrow. Before turning 65, John has a 1 in 5 chance of missing work for a year or more because of an accident or illness.*

Maybe John is really procrastinating because money is tight right now. NPFBA has a solution to John’s problem––the Mod-35 Plan. The Mod-35 Plan is a payment option to help you purchase long term care coverage now instead of later. Until John turns 55, his payment is just $35 a month. During that time, John enjoys all of the benefits of the 150 Comprehensive Plan should he need them. Most importantly for John, since he already has the NPFBA Long Term Care (LTC) Plan he does not have to worry about his insurability at an older age. John gets to keep his LTC Plan the rest of his life while earning an on-going 3% compounded increase of benefits, which by age 55 has grown to $264 per day of benefits. At age 55, John can choose whether to pay the shortage amount created by the lower payments in one payment and then continue monthly payments for the remainder of his term or pay adjusted monthly payments that include the shortage amount for the remainder of his term. In essence the Mod-35 Plan allows John to purchase “term” type long term care coverage with the option to convert to a “whole life” long term care policy at age 55.

If you’re like John and just haven’t gotten around to purchasing long term care or don’t think you can afford it, Stop Procrastinating! Purchasing long term care coverage for you and your spouse now will save you money and increase your benefits. Plus if you procrastinate too long you won’t be eligible for the NPFBA Long Term Care Plan. To join the Plan you must be under 61 and you or your spouse must be an active firefighter. Don’t forget, health buys long term care coverage—money simply pays for it!

May 25 no Comments. Rebecca Wilson

Reasons to Choose Long Term Care

Nursing Home Care Covers inpatient room and board, supplemental services, and patient supplies. You are eligible when you can’t perform 3 or more Activities of Daily Living (ADLs). Refer to Glossary page for Activities of Daily Living. Residential Care Covers room and board, supplemental services, and patient supplies in an eligible residential care facility. You are … Continue reading “Reasons to Choose Long Term Care”

Nov 07 no Comments. Rebecca Wilson
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An Inspiration to All: Meet a Fire Fighter Who Beat The Odds

On April 20, 2006, Sean Simonson, a City of Milpitas fire fighter, flew over the handlebars of his mountain bike and landed on his head. Sean’s accident injured his spinal cord and changed his life forever when he became a quadriplegic (someone with limited or no movement in their arms and legs).

Oct 24 no Comments. Rebecca Wilson
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12 Reasons You Need Long Term Care

As the cost of healthcare continues to rise, Long Term Care (LTC) coverage becomes an increasingly important component of every American’s safety net. Traditional health insurance doesn’t cover most LTC services. State and Federal programs only cover people with low incomes and are notorious for the poor quality of care provided.

Oct 24 no Comments. Rebecca Wilson
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Compare Our Plans With This Helpful Chart

If you would like to see a comparison of long term benefits, check out the post below!

Oct 24 no Comments. Rebecca Wilson
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