Long-Term Care Solutions

by Oct 1, 2016

Home Page » Long-Term Care Solutions

We are of the opinion that there is no consensus solution to the health care distribution and cost issue.   It’s broken.

But equally troubling is the rapid expense growth of the cost and the number of people needing Long Term care without a manageable solution

You have:

  1. Self-insure – on average of $100,000+ per year in 2016, and the typical stay of just under 3 years, you are looking at well over $300,000
  2. Buy a Long-Term Care policy– the more than 30 insurers who provided LTC policies 10 years ago has reduced to a handful. Those handful are raising rates and limiting coverage each year.  This will not end well
  3. Hybrid Life Insurance– structuring a life or restructuring an existing permanent life policy could work, and a full refund if you do not use the long-term care coverage
  4. Medicaid-is the Federal government backstop for those who have no other options. This option generally involves significant pre planning for the eventual need (5 years ahead), or if not ultimately exhausting your assets before Medicaid begins to pick up the cost.  There are some options here but generally Medicaid has eliminated the avoidance schemes.

The challenge is complicated because if over 60% of 65-year-olds are projected to need Long Term care, which option is best for you.

If you have questions email Kyle at  or call 203.698.9342.

Written by: Steve Shepard

Founder/Principal, Shepard Insurance Group. At Shepard Insurance Group we begin every relationship with a face to face meeting with the client. In a comprehensive discussion of coverage needs, personal concerns, objectives and finally appetite for risk, we can arrive at the proper insurance solution. Understanding the client is the first step to accurate execution.

October 1, 2016

You May Also Like…

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.