Long Term Care Insurance is Second Leading Source Paying for Private Home Care, Reports AALTCI Director
People purchase long term care insurance to receive care at home and a national study finds their planning works, shares the director of the American Association for Long-Term Care Insurance.
Los Angeles, CA, February 18, 2016 --(PR.com)-- Some eight million Americans have purchased some form of private long term care insurance and a 2015 national report finds insurance validates that insurance is the second leading source paying for private duty home care.
"Many people mistakenly associate long term care insurance with nursing home care and while that's part of the benefit, far more people buy this protection to receive needed care in their own home," declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance, a national insurance trade group. Slome shared findings from a national report published for the private duty home care industry with industry professionals.
AALTCI recently launched a new operation focused on creating awareness for short term care insurance. "The newly established National Advisory Center for Short Term Care Information will educate both consumers and insurance professionals to the fact that there are now many options available for their long term care planning needs," Slome noted.
"Home care, home care, home care -- what you want, where you want it, with long term care insurance giving you greater choice and options when the need arises," Slome advised members of the newly-created group. Slome noted that a recent Private Duty Benchmarking Study reports that around 70 percent of costs are "private pay." "That means the individual pays from their savings or retirement," he shares.
According to Slome, between nine and 10 percent of costs were paid by long-term care insurance, the second highest percentage according to the study.
The American Association for Long Term Care Insurance (AALTCI) is a national trade organization promotes sound and affordable planning for Americans. To obtain long term care insurance cost comparisons from a designated professional call (818) 597-3227 or visit the organization's website at www.aaltci.org.
"Many people mistakenly associate long term care insurance with nursing home care and while that's part of the benefit, far more people buy this protection to receive needed care in their own home," declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance, a national insurance trade group. Slome shared findings from a national report published for the private duty home care industry with industry professionals.
AALTCI recently launched a new operation focused on creating awareness for short term care insurance. "The newly established National Advisory Center for Short Term Care Information will educate both consumers and insurance professionals to the fact that there are now many options available for their long term care planning needs," Slome noted.
"Home care, home care, home care -- what you want, where you want it, with long term care insurance giving you greater choice and options when the need arises," Slome advised members of the newly-created group. Slome noted that a recent Private Duty Benchmarking Study reports that around 70 percent of costs are "private pay." "That means the individual pays from their savings or retirement," he shares.
According to Slome, between nine and 10 percent of costs were paid by long-term care insurance, the second highest percentage according to the study.
The American Association for Long Term Care Insurance (AALTCI) is a national trade organization promotes sound and affordable planning for Americans. To obtain long term care insurance cost comparisons from a designated professional call (818) 597-3227 or visit the organization's website at www.aaltci.org.
Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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