Welcome to NortheastLTC.com, Massachusetts one stop source for up to date information on long term care and long term care insurance. This site is designed to provide real, unbiased information for consumers and industry professionals.
Despite the prevalence of long term care needs, finding useful information about the options available to plan for long term care can be difficult. This is further complicated by the constant changes taking place in the long term care industry as aging baby boomers, government deficits and new products and planning tools are thrown into the mix. The first Long Term Care Insurance policies appeared in the 1970s and were marketed to elderly people as nursing home insurance. These products were created in response to the changing landscape in Long Term Care and a variety of other factors including dual income households. Traditionally, when someone needed care, family members were the first line of defense. When the care needs became too great or if family care wasn't an option, the alternative was generally a nursing home. People of means were able to privately pay for care in their home or in a facility. Others were able to receive public funds for their nursing home care after they had spent through the great majority of their assets. Up until recently there were several loopholes that allowed people to transfer assets in order to qualify for Medicaid. Due to tightening guidelines and look back periods, this is no longer a viable option for most.
Over the last few decades, as families have changed, the cost of care has increased and government funding has become more difficult to obtain, the way people receive and pay for care has changed as well. Today, there are over 8.25 million people protected by a Long Term Care Insurance Policy and over $8.5 billion in claims have been paid to date.1 Almost everyone has had an experience with long term care and seen firsthand the emotional, physical and financial stress that a long term care event can cause. Our goal is to help people have a plan in place to protect their families and finances from this risk.
We have tried to address most of the key issues, questions and concerns people generally have about long term care, but please click on the contact tab for information on how to contact us with additional questions. For specific information, enter one or more keywords below:
1 American Association for Long Term Care Insurance, Sourcebook 2009
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