When You Need Long Term Care, Don't Look to Medicare

When You Need Long Term Care, Don't Look to Medicare, Agency Warns
Social Security Statement, Unread by Many, Recommends Private Long Term Care Insurance


Last update: 6:30 a.m. EDT Oct. 27, 2008
KIRKLAND, Wash., Oct 27, 2008 /PRNewswire via COMTEX/ -- "Many Americans assume that Medicare will cover their long-term care expenses," says Cameron Truesdell, CEO of LTC Financial Partners LLC (LTCFP), one of the nation's largest and most experienced long term care insurance agencies. "But it just isn't so. The Government expects people to cover the expenses on their own -- out of pocket or through long term care insurance."

The Government's position is plainly stated in the Social Security Statement, available online and sent in print form to Social Security recipients. "But not everyone reads the fine print," Truesdell says. He recommends that everyone do so, at: http://www.socialsecurity.gov/mystatement/sample4.htm.
The section titled "About Social Security and Medicare" reads as follows:

Social Security pays retirement, disability, family and survivors
benefits. Medicare, a separate program run by the Centers for Medicare &
Medicaid Services, helps pay for inpatient hospital care, nursing care,
doctors' fees, drugs and other medical services and supplies to people age
65 and older, as well as to people who have been receiving Social Security
disability benefits for two years or more. Medicare does not pay for long
term care, so you may want to consider options for private insurance.




"Unless you're without means and qualify for Medicaid," Truesdell emphasizes, "the Government is just not prepared to help you when you need extended care for performing the tasks of daily living." He says it is vital, especially in recessionary times, "to do exactly what the Government says, look into private LTC insurance options."
Truesdell's organization offers help from over 550 independent long term care agents. "They're available by phone or in person to advise everyone on the best policies from leading insurance companies," he says. "They know which policy options fit specific needs; and they know which companies have the best track records."
A listing of LTCFP's agents, by state, is available at http://web.ltcfp.com/ltcfp/find-agent.aspx.

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Most veterans and especially disabled veterans do have access to long term care thru VA facilities and most states have veterans homes for this purpose to keep the veterans families from going broke while caring for a bed ridden veteran, or one needing hospice care.

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